Global Green Building Materials Market Set For Robust Growth In 2023-2028: Market Size To Reach $490.8 Billion By 2028 As Per The Business Research Company’s Green Building Materials Global Market Report 2024

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LONDON, Feb. 05, 2024 (GLOBE NEWSWIRE) — As per The Business Research Company’s Green Building Materials Global Market Report 2024, the green building materials market has witnessed a rapid surge in recent years, projecting a growth from $305.63 billion in 2023 to $338.53 billion in 2024 at an impressive compound annual growth rate (CAGR) of 10.8%. This upward trajectory is expected to persist, with the green building materials market size forecasted to reach $490.8 billion in 2028, maintaining a strong CAGR of 9.7%. The sector’s promising growth is underlined by the increasing adoption of sustainable practices and the introduction of eco-friendly materials.

Government Support Drives Growth

Supportive government policies worldwide are set to propel the green building materials market further. Governments globally are mandating the integration of green technology to address environmental concerns, reduce carbon emissions, conserve resources, enhance energy efficiency, and promote sustainability. Such regulations not only aim to mitigate climate change and improve public health but also foster innovation within the green technology sector.

For instance, Israel’s recent move to make rooftop solar panels mandatory for all new non-residential structures is a prime example of government initiatives driving the adoption of green technology. This policy, with a 180-day implementation deadline, underscores Israel’s commitment to achieving 30% renewable electricity by 2030.

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https://www.thebusinessresearchcompany.com/report/green-building-materials-global-market-report

Eco-Friendly Innovations

Major players in the green building materials market are responding to the demand for sustainability by introducing eco-friendly solutions. Notably, Switzerland-based Holcim launched ECOPlanet in July 2021, a green cement solution meeting the highest sustainable building standards, including BREEAM and LEED certifications. ECOPlanet offers at least 30% lower CO2 emissions compared to traditional cement, utilizing innovative low-emission raw materials such as calcined clay and recycled construction and demolition waste.

Market Segmentation

The green building materials market, as covered in the report, is segmented based on type, application, and end-use:

  1. By Type: Structural, Exterior, Interior, Other Types
  2. By Application: Framing, Insulation, Roofing, Exterior Siding, Interior Finishing, Other Application
  3. By End-Use: Residential Buildings, Non-Residential Buildings

Key Findings

  • Structural Dominance: Among types, the structural segment emerged as the largest, accounting for 47.2% or $144,344.5 million of the total green building materials market in 2023.
  • North America Leads: Geographically, North America took the lead in the green building materials market, accounting for 33.5% or $102,398.3 million of the total green building materials market in 2023. Followed by Asia-Pacific, Western Europe, and other regions.

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Future Growth Prospects

Looking ahead, Asia-Pacific and Western Europe are projected to be the fastest-growing regions in the green building materials market, with anticipated CAGRs of 11.9% and 10.9%, respectively.

Industry players can leverage the insights provided in the Global Green Building Materials Market Report 2024 to navigate and capitalize on the sector’s growth. With the market set to expand, businesses are encouraged to stay informed about evolving trends, government policies, and innovative solutions. This comprehensive green building materials market report equips players with the knowledge needed to make strategic decisions and contribute to the sustainable evolution of the global green building materials industry.

Green Building Materials Global Market Report 2024 by The Business Research Company provides insights on the green building materials market size, green building materials market segments, green building materials market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.

The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Check Out Similar Market Intelligence Reports By The Business Research Company:

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Multifamily Housing Green Buildings Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/multi-family-housing-green-buildings-global-market-report

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