The sustainable construction materials market has experienced rapid growth in recent years. It is forecasted to rise from $255.79 billion in 2023 to $286.85 billion in 2024, at a CAGR of 12.1%. This growth is driven by heightened awareness of environmental impacts, government regulations and green building standards, the cost-competitiveness of materials, urbanization and infrastructure development, and the increasing availability of recycled materials.
The sustainable construction materials market is expected to grow to $456.94 billion by 2028, at a CAGR of 12.3%. Growth is fueled by the demand for green buildings, eco-friendly materials, green certifications, educational programs, and government incentives. Trends include advancements in energy-efficient materials, smart technologies integration, innovative manufacturing processes, and the development of climate-resilient materials.
Major Driver In The Sustainable Construction Materials Market
The increasing awareness of environmental issues is anticipated to boost the sustainable construction materials market. This awareness arises from media coverage and advocacy efforts, leading to greater public understanding. Sustainable construction materials mitigate environmental impacts by utilizing eco-friendly options that enhance energy efficiency and reduce waste. In July 2023, the Office for National Statistics noted that 86.5% of adults in Great Britain made lifestyle changes to address environmental concerns. Therefore, heightened environmental awareness is propelling the sustainable construction materials market's growth.
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Sustainable Construction Materials Market Competitive Landscape
BASF SE, Johnson & Johnson, Compagnie de Saint-Gobain, Holcim Group Ltd., 3M Company, Novelis Inc., Knauf Gips KG, Skanska AB, CEMEX S.A.B. de C.V., DuPont de Nemours Inc., Sika AG, Owens Corning, Kingspan Group plc, Rockwool International A/S, Tarmac Ltd., Boral Limited, Forbo Holding AG, GAF Materials Corporation, Heidelberg Materials AG, The Alumasc Group plc, RedBuil LLC, Ecovative Design LLC
Key Sustainable Construction Materials Market Trend
Companies in the sustainable construction materials market are focusing on creating innovative solutions, such as carbon-captured net-zero cement, to reduce carbon emissions and improve the environmental footprint of construction projects. Carbon-captured net-zero cement is designed to capture and store or utilize CO2 emissions produced during manufacture, achieving a net-zero carbon footprint. In November 2023, Heidelberg Materials, a German company, introduced evoZero, the world’s first carbon-captured net-zero cement. This product uses advanced carbon capture and storage technology at the Brevik plant in Norway to reduce CO2 emissions without relying on carbon offsets. The cement also features a transparent carbon accounting system verified by blockchain technology, contributing to the decarbonization of the cement industry and aiming to reduce CO2 by 10 million metric tons by 2030.
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Global Sustainable Construction Materials Market Segmentation
The sustainable construction materials market covered in this report is segmented –
1) By Type: Bamboo, Reclaimed Wood, Green Insulation Materials, Structural Insulated Panels, Cross-Laminated Timber, Recycled Metal, Precast Concentrate, Recycled Plastic-Based Cement, Other Types
2) By Application: Exterior, Interior, Structural, Other Applications
3) By End-User: Residential, Commercial, Industrial
By Geography:The regions covered in the sustainable construction materials market report areAustralia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the sustainable construction materials market in 2023.
The Sustainable Construction Materials Global Market Report 2024 furnishes information about the global sustainable construction materials market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
