- Increasing awareness of the materials' health benefits and the growing regulations for energy saving and environmental emissions in construction applications are the drivers for the growth of the market.
- Market Size – USD 254.76 Billion in 2019, Market Growth - CAGR of 11.3%, Market Trends – High demand from commercial construction applications in developed economies.
NEW YORK, July 1, 2020 /PRNewswire/ -- The global Green Building Materials market is forecast to reach USD 573.91 Billion by 2027, according to a new report by Reports and Data. Green building is a technology for developing an environmentally friendly infrastructure. The goal of these structures is to reduce the negative impacts of residential and commercial constructions on human health and the environment through better site selection, construction, design, maintenance, and disposal at the most, along the full life cycle of green building materials.
The positive effect of these materials on human health mainly stimulates the market. Besides, the governments of various developed countries facilitate high-performance green buildings; an example of this is the US recovery and reinvestment law. Due to frequent climate change and extreme weather conditions, consumers prefer to adopt green roof technology to maintain the temperature inside the structure as well as to recover rainwater. However, the unavailability of high performance, eco-friendly green building materials, and cost issues are the key factors hampering the market growth.
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The cost of the construction of green buildings is higher than that of typical buildings. The market anticipates significant growth due to the strict regulations adopted by the North American and European governments, which focus on green building technologies. Also, attempts by various NGOs and companies to raise awareness of the adoption of sustainable technologies would stimulate the market for green building materials in the future.
The market presents a growing activity of integration in the long term by the suppliers of raw materials because of the growing demand and the infinite growth prospects of the market. The regional dominance of industry participants is expected to decrease due to the growing demand for imports. This trend should continue over the next few years and should propel market growth.
The COVID-19 impact:
The COVID-19 pandemic is expected to have a massive downward impact on the global Green Building Materials market in 2020, the reason being the halt in the residential and commercial construction applications, which are responsible for the significant demand. After the pandemic, however, trends discussed in the study of the global market do hold ground.
Also, supply chain disruptions and production shutdowns have resulted in a downgraded outlook for the production of green building materials, which will have short-term impacts on market sales that could have lasting effects. While the industry expects things to return to near normal state well before the end of 2020, negative demand shock caused by the crisis is likely to last.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/green-building-materials-market
Further key findings from the report suggest
For the purpose of this report, Reports and Data have segmented into the global Green Building Materials market on the basis of Product, End-User Industry, Application, and Region:
Product Outlook (Revenue, USD Billion; 2017-2027)
End-User Industry Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
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