WILMINGTON, DE / ACCESSWIRE / February 10, 2023 / Transparency Market Research Inc. - The Global Sustainable Construction Materials Market is expected to advance at a CAGR of 12.7% during the forecast period from 2022 to 2031, as per a report by TMR (Transparency Market Research).
Adoption of sustainable construction materials has increased in the past few years owing to eco-friendly nature and lower environmental impact in comparison to conventional construction materials. Demand for bamboo, reclaimed wood, rammed earth, straw bale, and recycled & reclaimed materials, such as concrete and steel, is anticipated to increase in the next few years owing to advantages such as energy efficiency, durability, and ability to reduce carbon footprint of buildings. These factors present significant business opportunities for sustainable construction materials providers.
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Key Findings
- Bamboo is gaining popularity in the construction industry as extremely sustainable construction material owing to advantages, such as sturdiness, durability, improved compressive strength, and tensile strength similar to steel. Moreover, it is increasingly utilized in seismic-prone regions owing to its flexible and lightweight nature. As per TMR market trend analysis, the bamboo segment is likely to account for prominent share of the global industry during the forecast period. This can be ascribed to rise in the usage of bamboo in the construction of bridges, houses, and other structures across the globe.
- Understanding of climate change and its impact on overall environment has increased in the past few years across the globe. Government authorities in several developed and developing countries are focusing on environmental sustainability. They are taking initiatives in order to implement different regulations that can help in preserving biodiversity, decreasing greenhouse gas emissions, and encouraging sustainable practices in various industry verticals, such as transportation, agriculture, and construction. Governments are also promoting R&D activities focused on the development of eco-friendly building materials by providing financial aids to these researches. In addition, tax rebates and incentives are available for organizations utilizing environmental-friendly products. These factors are anticipated to propel the global market during the forecast period.
Sustainable Construction Materials Market: Growth Drivers
- Increase in focus on adoption of environmental-friendly construction across the globe is fuelling demand for sustainable construction materials
- Rise in awareness about need for reducing greenhouse emissions is increasing demand for sustainable construction materials globally
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Regional Analysis
- North America held 41.6% share of the global market in 2021. It is estimated to account for larger share of the global industry during the forecast period. This can be ascribed to rise in implementation of stringent regulations pertaining to the environment in the construction sector. Moreover, increase in adoption of sustainable construction techniques in various renovating and retrofitting applications is anticipated to propel market growth in North America.
- According to TMR's research report, Asia Pacific and Europe held 13.5% and 36.8% share of the global market, respectively, in 2021. Increase in awareness about environmental sustainability in these regions offers significant business opportunities to market players.
Sustainable Construction Materials Market: Competition Landscape
Major companies operating in the global industry are increasing investment in R&D activities in order to develop sustainable building products
These companies are adopting strategies, such as product launch and partnership, in order to increase market share
Sustainable Construction Materials Market: Key Players
- Alumasc Group plc
- 3M
- BASF SE
- Amvic Systems
- Binderholz GmbH
- Bauder Limited
- DuPont
- CertainTeed
- Interface Inc.
- Forbo Group
- Lafarge
- Kingspan Group
- Owens Corning
- National Fiber
- RedBuilt, LLC
- PPG Industries
- Structurlam Mass Timber Corporation
- Reward Wall Systems
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Sustainable Construction Materials Market Segmentation:
Type
- Bamboo
- Reclaimed Wood
- Green Insulation Materials
- Structural Insulated Panels
- Cross-laminated Timber (CLT)
- Recycled Metal
- Precast Concrete
- Recycled Plastic-based Cement
- Others
End-use
- Residential
- Commercial
- Offices
- Institutions
- Hospitality & Leisure
- Industrial
Regions Covered
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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