Press Release

Rising Demand for Energy Efficient Buildings to Escalate the Market Growth

According to MarkNtel Advisors, the Global Sustainable Building Material Market is anticipated to grow at a CAGR of around 11% during the forecast period, 2022-27. The factors responsible for the market growth are the initiatives taken by various regional & country-level governments to ensure a smooth way of reducing greenhouse gas emissions. Additionally, sustainable building materials reduce operational costs, increase durability, and reduce waste.

Furthermore, the countries such as the US, Canada, and China, among others, have introduced numerous green building criteria to provide flexibility in the construction industry for raising the number of new sustainable residential buildings. Therefore, the demand for sustainable building materials, including insulated solutions, walls, sidings, panels, floors, solar systems, etc., is expected to witness a noticeable incline during the forecast period.

Moreover, the rising demand for energy-efficient buildings & various government policies for green buildings is expected to boost the market growth in the coming years. For instance, the government of India has provided numerous initiatives such as Green Rating for Integrated Habitat Assessment (GRIHA) to stimulate sustainable buildings in the country. Under GRIHA, it has been compulsory for all central government & other residential buildings to acquire nearly 3-star ratings. Hence, this resulted in boosting the demand for the Sustainable Building Material market.

Solar System Accounted for a Significant Share in the Global Sustainable Building Material Market

Based on product type, the market bifurcates into Exterior, Interior, Solar System, and Others. Of them all, the Solar System segment captured a notable share in the Global Sustainable Building Material market during 2017-21. The factors responsible for the growth of the segment are rising awareness among building contractors & customers, along with more availability of solar systems globally.

Further, minimizing the overall costs of the solar system associated with power generation for the building has accelerated the demand for solar systems. Moreover, the decline in the price of solar photovoltaic cells in regions such as North America, Europe, and the Asia-Pacific has increased the utilization of solar systems.

North America to Witness Substantial Growth in the Years to Come

Based on geography, North America captured a notable market share during the historical period. The construction sector in the region has witnessed considerable growth due to increased demand for houses & acceleration in renovation projects. Further, owing to its proactive efforts to mitigate adverse environmental effects of the construction industry, the region has seen an increase in the demand for sustainable building materials in the historical years.

Moreover, numerous mandatory government regulations such as Leadership in Energy and Environmental Design (LEED), and Green Building Certification, among various subsidies for green housing projects, have escalated the construction of sustainable buildings in the region. For instance, in 2020, according to the U.S. Green Building Council, nearly 1,171 projects have been licensed with LEED certification for green buildings in the United States with about 281.05 million Gross Square Feet (GSF) land.

In regard to this, the demand for sustainable building materials has been propelled in the country, revels MarkNtel Advisors in their research report, "Global Sustainable Building Material Market Analysis, 2027."

Key Market Competitors

According to MarkNtel Advisors, the leading players in the Global Sustainable Building Material Market are Kingspan Group plc, Amvic Inc., BASF SE, Alumasc Group plc, Bauder Ltd., Binderholz GmbH, E. I. du Pont de Nemours and Company (DuPont), Forbo Holding Ltd, Interface Inc., Owens Corning, Sika AG, Nexii Building Solutions Inc., Saint-Gobain (CERTAINTEED), Chengdu Onekin Green Building Materials Co. Ltd, Soben International (Asia-Pacific) Ltd.

Key Questions Answered in the Study

1. What are the current & future trends in the Global Sustainable Building Material Market?
2. How has the industry been evolving in terms of geography & product adoption?
3. How has the competition been shaping across various countries, followed by their comparative factorial indexing?
4. What are the key growth drivers & challenges for the Global Sustainable Building Material Market?
5. What are the customer orientation, purchase behavior, and expectations from product providers across various countries?

Market Segmentation:

1. By Product Type (Exterior, Interior, Solar Systems, Others (Composites, Coatings, Others))
2. By End User (Residential, Non- Residential (Commercial, Institutional, Others))
3. By Region (North America, South America, Europe, Middle East & Africa, Asia-Pacific)
4. By Competitors (Kingspan Group plc, Amvic Inc., BASF SE, Alumasc Group plc, Bauder Ltd., Binderholz GmbH, E. I. du Pont de Nemours and Company (DuPont), Forbo Holding Ltd, Interface Inc., Owens Corning, Sika AG, Nexii Building Solutions Inc., Saint-Gobain (CERTAINTEED), Chengdu Onekin Green Building Materials Co. Ltd, Soben International (Asia-Pacific) Ltd.