Market Definition
Sustainable building materials are those materials that are made from renewable resources to reduce the environmental impact associated with fabrication, processing, installation, transportation, disposal, and recycling. They are employed in the address environmental challenges, including drastic climatic change, natural resource depletion, atmospheric pollution, contamination of freshwater resources, and loss of biodiversity. With the rapid construction of new green buildings across the globe as well as supportive government policies & initiatives, the demand for sustainable building materials is expected to proliferate in the upcoming years.
Market Insights
The Global Sustainable Building Material Market is projected to grow at a CAGR of 11% during the forecast period, 2022-27. The demand has been escalating on the backdrop of deepening the emphasis of numerous regional & country-level governments to ensure a smooth path for reducing greenhouse gas emissions. Further, these sustainable settings offer energy efficiency, low maintenance, durability, reduction in overall operational cost, and waste reduction over traditional buildings.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2022-2027) | 11% |
| Regions Covered | North America: US, Canada, Mexico |
| Europe: The UK, France, Germany, Italy, Spain, Rest of Europe | |
| Asia-Pacific: China, India, Japan, South Korea, Singapore, Rest of Asia Pacific | |
| South America: Brazil, Argentina, Rest of South America | |
| Middle East & Africa: UAE, Saudi Arabia, South Africa, Turkey Rest of Middle East and Africa | |
| Key Companies Profiled |
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 |
| Unit Denominations | USD Million/Billion |
In this regard, countries such as the US, Canada, Spain, the UK, China, India, Singapore, the UAE, and others have introduced green building standards to bring resilience in the construction industry for increasing the number of new sustainable residential or non-residential structures. Consequently, the demand for sustainable building material, including insulated solutions, walls, sidings, panels, floors, solar systems, etc., is expected to witness a noticeable incline during 2022-27.
Additionally, the increasing number of sustainable building certification organizations, such as DGNB (German Sustainable Building Council), LEED (Leadership in Energy and Environmental Design), BREEAM (Building Research Establishment's Environmental Assessment Method), HQE (The Haute Qualité Environnementale), Energy Star, etc., have created benchmarks for attaining sustainability in construction buildings.
Therefore, with the emerging trend of zero-carbon energy buildings along with the establishment of various green building councils, the Global Sustainable Building Materials market would experience substantial growth prospects over the forecast period.
Impact of Covid-19 on the Global Sustainable Building Material Market
The advent of COVID-19 led to a significant decline in the demand for sustainable building materials during 2020. The construction industry was one of the worst-hit industries among others. The stringent imposition of mobility measures led to a low number of active construction projects.
In addition, the uncertainty posed by the global pandemic led to a downfall in the real estate sector as a result of low consumer confidence. Consequently, it resulted in the cancellation & halt of the ongoing construction projects, including green building projects. The halt in the projects also led to delays in project deliveries.
Therefore, in 2020, the demand for sustainable building materials declined sharply. In addition, the gradual revival of the construction industry contributed to the recovery of demand for sustainable building materials in 2021. Hence, the impact of COVID-19 on sustainable building materials would diminish with the resumption of ongoing & new sustainable buildings across the globe.
