The Business Research Company's green building materials market research report expands on key drivers, trends, and growth opportunities in the market.
LONDON, July 12, 2022 /PRNewswire/ -- The search for better, stronger, and more durable concrete has always been a priority for the construction sector. Green cement, therefore, appears to be the ideal option. Green cement is cement that is made with a carbon-negative manufacturing technique. Most of the rejected garbage from industry serves as one of the primary raw materials utilized to make green cement. To produce green cement, blast furnace slag and fly ash are the main ingredients. The amount of carbon dioxide released while manufacturing green cement is remarkably low, lowering the carbon footprint by 40%. It is a less expensive and environmentally friendly alternative to traditional cement because it utilizes industrial waste as a raw material.
In February 2021, ACC Ltd., an India-based cement producer, launched ECOPact, its new low-carbon range of ready-mixed concrete. The introduction of ECOPact is crucial in advancing the shift to low-carbon and circular construction, decreasing CO2 emissions by up to 100%.
The global green building materials market size is expected to grow from $238.91 billion in 2021 to $276.13 billion in 2022 at a compound annual growth rate (CAGR) of 15.6%. The green building materials market growth is expected to reach $421.64 billion in 2026 at a CAGR of 11.2%.
Green Building Material Types
The main types of green building materials are structural, exterior, interior, and others. The materials, equipment, and elements that make up the walls, roof, foundation, stairs, associated projections, and other external sections and features are referred to as the building's exterior. Bamboo, recycled steel, and reclaimed wood are some of the green building materials used for exterior purposes. It is used in framing, insulation, roofing, exterior siding, interior finishing, and others and is implemented in various sectors such as residential buildings and non-residential buildings.
According to the green building materials industry report, North America was the largest region in the market and was worth $85.51 billion in 2021. The green building materials market in North America is supported by the increased awareness about using sustainable technologies for building construction and the presence of big players in the green building construction industry such as AECOM in the region. The market is also supported by government initiatives.
Awareness of the availability and functions of many of these new-age green products is fairly low. Information about their availability, cost, and function is limited, leading to misconceptions about viability and long-term cost savings. Therefore, the lack of awareness about the benefits of eco-friendly materials in the construction sector hampered the growth of the green building materials market.
Check out similar market reports:
Green Cement Global Market Report 2022 – By Type (Fly-Ash Based, Slag Based, Recycled Aggregates, Other Types), By Application (Residential, Commercial, Industrial), By End User (New Constructions Activities, Repair & Maintenance Activities) – Market Size, Trends, And Global Forecast 2022-2026
Nonresidential Green Buildings Global Market Report 2022 - By Product (Interior Products, Exterior Products), By Application (Office, Education, Hotels And Restaurants, Retail, Institutional/ Assembly, Healthcare, Warehouse), By Component (Roofing, Insulation, Framing, Exterior Siding, Interior Finishing) - Market Size, Trends, And Global Forecast 2022 – 2026
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