The global market for green building materials was estimated at $238 billion in 2020 and is projected to reach $425.4 billion by 2027, growing at a CAGR of 8.6%, according to ResearchandMarkets's "Green Building Materials—Global Market Trajectory & Analytics" report.
After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the exterior siding segment is readjusted to a revised 7.1% CAGR for the next seven-year period, according to ResearchandMarkets.
The green building materials market in the U.S. was estimated at $64.6 billion last year, per the report.
The market in China is projected to hit $84.8 billion by 2027, exhibiting a CAGR of 11%, according to ResearchandMarkets.
According to the report, the framing segment is forecast to register an 11.5% CAGR, with 10.8% of that coming from the U.S., Canada, Japan, China and Europe.
These markets accounted for a combined $34.8 billion of the market in 2020 and will reach $71.3 billion in 2027, per ResearchandMarkets.
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