The world's green building materials market will be worth well over US$800bn by 2032, according to a new report by Future Market Insights (FMI).
The major business market intelligence consultancy’s report Green Building Materials Market Outlook (2022-2032) tips the global green materials market to reach a value of $823bn by 2032 – compared to $265bn in 2021. The same source says the market’s CAGR (compound annual growth rate) will be 11.8% in the 2022-2032 period.
Customised green building material products will boost demand, says FMI, as will a growing awareness of environmental degradation, natural resource depletion and governmenal regulations and incentives to encourage green building projects. Acoustical Surfaces, Cemex, Green Build Products, Cold Mix Manufacturing Corp, Green Build Products, Green Fiber, National Fiber Technology, and Novagard Solutions are said by FMI to be some of the key players in the green building materials market.
Company green building materials growth strategies identified in the new FMI report include mergers and acquisitions, trends and analyses relating to strategic collaboration among partners, and mutual agreements and partnerships.
The top players use novel product launch tactics to enhance their geographical footprint:
- Sika announced its consumer purchase intention MBCC Group in November 2021 to accelerate its growth strategy and strengthen its position as a global sustainability champion in the construction sector.
- SmartLam North America and RedBuilt established cooperation in May 2020 to provide Cross-Laminated Wood (CLT) supplies and solutions to architects, engineers, and contractors working on projects utilising the popular mass timber building technology.
- In the Pacific Northwest, West Coast, and Southwest, which encompasses nine states, RedBuilt will be the only distributor of SmartLam CLT.
- The use of natural resources has been strained by the rising global population and growing urbanisation. Concept of sustainable growth and a drop in challenges connected to environmental degradation and natural resource depletion, green construction materials are becoming increasingly popular.
For more details, visit Green Building Materials Market by Future Market Insights .
