Green Building Market: Current Analysis and Forecast (2023-2030)

Green building market materials support environmentally friendly, long-lasting construction that uses less energy. These environmentally friendly building materials can benefit the environment. Fiberglass, recycled metal, timber, and mineral wool are examples of non-toxic, renewable materials used in green construction. The industry's solutions make advantage of onsite generation of renewable energy, including solar power, biomass power, wind power, and hydropower.

Green building market is expected to grow at a significant growth rate of 6.4% during the forecast period (2023-2030). The green building market is expected to witness steady growth owing to increasing environmental concerns and stringent government regulations. Due to their cheap operating and upkeep costs, green buildings are predicted to become more popular in the industrial sector. Green buildings are predicted to become increasingly popular due to rising consumer demand for energy-efficient technologies. Growing demand for green buildings in the residential and commercial sectors is anticipated to significantly fuel market expansion over the course of the projected period. The market for green buildings is anticipated to be significantly constrained by high material costs. In addition, on 29 June 2022, CEMEX launched the first Green Financing Framework in the building materials sector, expanding the company's focus on sustainable finance and creating a more sustainable world.

Based on product type, the green building market is bifurcated into exterior and interior products. Exterior products which include water harvesting systems, solar systems, smart lighting systems, Heat ventilation air conditioning systems, and water treatment plants are the most important components and are extensively used in green buildings, therefore, make exterior sub-segment hold a lucrative market share.

Based on application, the market is sub-segmented into the residential and non-residential sectors. Of both, the residential sector holds a significant market share owing to strict and supporting government policies to promote less energy consumption by using smart technologies. Residential high-rise buildings have to follow strict government norms while constructing a building. However, with rapidly increasing industrialization nonresidential sector is likely to grow fastest during the forecast period

For a better understanding of the market adoption, the report provides detailed analysis for major regions and countries including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World. The Asia-Pacific is expected to see a high growth for green building owing to increasing governments' focus on sustainable development and availability of a cost-competitive workforce. Since the region is facing problems due to increasing pollution and scarcity of water. The Asia-Pacific consisting of countries like China, India, Bangladesh, Indonesia, Pakistan, and Japan which lies in top 11 most populated countries in the world. Region is running out of resources and facing imbalances due to over population, due to which governments are taking important steps to control the imbalances.

Some of the major players operating in the market include: CEMEX S.A.B. de C.V., Owens Corning, Bauder Limited, Binderholz GmbH, Ginkgo Sustainability Inc., Kingspan Group plc, Saint Gobain S A, E.I. Du Pont De Nemours and Company, Interface, Inc., Weinerberger AG.