Sharp Growth Forecast for Green Building Materials
DUBLIN —The global green building materials market is expected to grow at a compound annual growth rate of more than 12% over the next four years, due largely to “a growing awareness about environmental sustainability that’s driving demand,” a leading market research firm said last month.
According to Dublin, Ireland-based Research and Markets, the global green building materials market is expected to increase from $238.9 billion in 2021 to $383.9 billion in 2025. North America was the largest region in the green building materials market in 2021, the research firm said. Asia Pacific is expected to be the fastest region in the forecast period, researchers added.
“The introduction to environment-friendly products is gaining significant popularity in the green building materials market,” research officials said. “Major participants in the green building materials industry are concentrating on launching new product lines that minimize the global warming potential (GWP) without compromising product quality.”
The green building materials market consists of sales of eco-friendly, durable structural, exterior and interior products that use less water, are easier to maintain than traditional building materials, and improve the sustainability and efficiency of a building because of a lower carbon footprint. The products are used in framing, insulation, roofing, exterior siding and interior finishing for both residential and non-residential structures.
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