The Global Green Building Market is projected to grow at a CAGR of 13.2% from USD 247.26 billion in 2019 to USD 671.37 billion in 2027. Increasing concerns regarding growing environmental pollution has compelled governments around the world to formulate policies and regulations which requires the usage of eco-friendly solutions. This factor is expected to drive the market's growth during the forecast period.
Green building materials restrict the usage of toxic paints thus improving indoor air quality. The products also offer huge amount of natural lighting thus helping in reducing energy usage. Technological innovations and advancements have contributed largely in the industry's development over the years. The demand from construction and real estate projects have increased significantly. The materials have become quite popular in emerging economies around the world. Several environmental regulations aimed at preventing pollution is encouraging the usage of green building materials in residential as well as non-residential buildings.
The major factor restraining the industry's growth is the high cost of the materials used in green buildings. Thus the selling price of the solutions provided by the industry is quite high and a major percentage of population are unable to afford it. Major players of the market are trying to formulate strategies in order to negate this factor.
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Key players in the market include Alumasc Group PLC, Amvik Systems, BASF SE, Bauder Limited, Binderholz GmbH, Certain Teed Corporation, Forbo International SA, Interface Inc, Kingspan Group PLC and Owens Corning.
The COVID-19 impact: The COVID-19 pandemic is likely to disrupt the industry's growth to a certain extent. Major industry players are skeptical about the future of the market and are trying to redesign their strategies for sustaining in this difficult situation. They are trying to spread the message regarding importance of building a sustainable ecosystem amongst people which can prevent many diseases. The pandemic had badly affected the construction industry and most of the large companies have been forced to stop operations. Thus the demand from the real estate sector has completely dipped. There is a shortage of manpower due to repeated lockdowns in several parts of the world. COVID-19 has affected the international trade, exports and imports, and consequently, the demand in the industry has also largely reduced. The major companies operating in the market are trying to clear their stocks, and they are focusing on maintaining their cash balances. They are concentrating on the health and welfare of their workforce and are trying to provide them all sorts of assistance.
Further key findings from the report suggest
- Solar products is expected to emerge as one of the major lucrative segments due to the increasing demand for efficient usage of energy.
- Offline sales channel is popular among small suppliers and producers who are trying to cater to the domestic markets of their respective regions.
- Commercial application segment is expected to register high growth due to the need of eco-friendly office buildings in different parts of the world.
- The European green building market is experiencing significant growth since the industry offers perfect solution amidst rapid climatic changes in the region. Stringent government regulations and targets set by European Commision in order to reduce CO2 emission is supporting the growth of the market in Europe.
- In March 2020, Amvik Systems announced the plans of development of zero energy smart homes as part of their 'Pinnacle' project.
- In June 2020, BASF SE partnered with Zhengming in order to develop high-quality Elastopir polyurethane insulation panels in China.
- There have been a number of M&A in the industry like Binderholz GmbH acquiring Klenk Holz AG from The Carlyle Group in 2017, Interface Inc acquiring Nora Systems in 2018, Certain Teed Corporation acquiring Norton Industries' wood ceilings business in 2019 and BASF SE acquiring polyamide business from Solvay in 2020.
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For the purpose of this report, Reports and Data have segmented into the global Green Building Market on the basis of Product Type, Sales Channel, Application and region:
Product Type Outlook (Revenue, USD Billion; 2020-2027)
- Exterior Products
- Interior Products
- Building Systems
- Solar Products
Sales Channel Outlook (Revenue, USD Billion; 2020-2027)
Application Outlook (Revenue, USD Billion; 2020-2027)
- Residential Buildings
- Commercial & Office
- Hospitality & Leisure
The research study includes an in-depth analysis of the market using advanced research methodologies such as SWOT analysis and Porter's Five Forces analysis. The report further explores the key business players along with their in-depth profiling, product portfolio, and strategic business decisions. The report has been formulated through extensive primary and secondary research and further validated by analysts, industry experts, and market professionals. The report also sheds light on the recent mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches, among others.
Regional analysis covers assessment of import/export, production and consumption ratio, supply and demand, cost, price, estimated revenue and gross margins, and presence of key players in the region. The report also offers insights about revenue growth, market size, market share, technological advancements, and presence of key players in each region.
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Regional Bifurcation of the Green Building Market Includes:
* North America (U.S., Canada, Mexico)
* Europe (U.K., Italy, Germany, France, Rest of Europe)
* Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
* Latin America (Chile, Brazil, Argentina, Rest of Latin America)
* Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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