GLOBE NEWSWIRE
Rising awareness about energy efficiency in buildings along with growing green building construction activities across emerging economies will positively impact the market growth.
Green Building Materials Market to hit US$ 610 billion by 2028, Says Global Market Insights Inc.
Major green building materials market participants include BASF SE, Sika AG, PPG Industries, Inc., Owens Corning, Kingspan Group, and Dupont de Nemours, Inc.
The green building materials market is anticipated to surpass USD 610 billion by 2028, as reported in a research study by Global Market Insights Inc. Rising awareness about energy efficiency in buildings along with growing green building construction activities across emerging economies will positively impact the market growth.
Residential & commercial building contractors are becoming aware of the significance of green building materials in the construction industry owing to the increasingly adverse effects of traditional materials on the climate through the production of steel and cement, among others. Rapid industrialization in the Asia Pacific is driving building & construction activities for commercial purposes. The adoption of green building materials as a viable alternative to traditional construction materials will drive the green building materials market growth.
The exterior type of segment is expected to generate over USD 155 billion in revenue by 2028. The exteriors of various buildings are now being developed using wood, bamboo, etc. A sustainable exterior design practice highlights the commitment toward protecting the environment and reducing carbon footprints. In exterior designs, sustainability is involved in various aspects, right from material selection to the designing of the exterior portion of buildings, thus delivering long-lasting & high-quality buildings with a low environmental impact, in turn, lowering pollution.
Framing application is poised to showcase a considerable growth rate of around 612% from 2022 to 2028 in the green building materials market. Framing is the skeleton of a house. Various green building materials are now used in the framing of houses. Wood, bamboo, etc., are increasingly being adopted in various emerging markets as a framing material. Moreover, inclination toward the sustainable development of construction projects and the need to utilize green building materials will further drive the market during the projected period.
The commercial offices & buildings segment is likely to witness significant growth through 2028. Rising commercial spaces across emerging economies, such as China and India, along with the growing global hospitality industry are driving the market growth. Several commercial projects across the U.S. and Europe are further integrating energy-efficient materials during construction to minimize the adverse environmental impacts.