Research and Markets just released the Green Building Materials Strategic Business Report. The report states that in 2023, the global market for green building materials is estimated at $436.9 billion and that number is predicted to grow at a CAGR of 8.8 percent between 2023 and 2030, reaching $786.1 billion by the year 2030.
The report provides a number of key insights, including that the structural building materials segment of the market is expected to reach $564.4 billion by the year 2030. At the same time, the interior building material segment is estimated to grow by 7.7 percent CAGR by 2030.
According to the report, one of the largest areas of growth is in China, which is expected to grow by 13 percent CAGR by 2030.
Driving Factors Behind the Market Growth of Green Building Materials
Some of the main drivers behind this market growth include increasing consumer awareness of environmental issues, technological advancements in material science, the rise of green building standards and certifications, innovations in nanotechnology and the development of recycled materials and bio-based materials.
Other notable factors behind the expansion of the market include the evolution of green building practices and design trends, the social and economic impact of sustainable building materials, improvements in recycling processes and the demand for energy-efficient insulation.
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