MENA Green Building Materials Market: Current Analysis and Forecast (2023-2030)
Emphasis on Application (Framing, Insulation, Roofing, Exterior Siding, Interior Finishing, Others); End-User (Residential, Commercial, Institutional, Industrial, Healthcare, Others); Country
Geography:
Industry:
Last updated:
Dec 2023
The MENA Green Building Materials market was valued at USD 7,931.40 Million in 2022 and is expected to grow at a strong CAGR of around 10.26% during the forecast period (2023-2030) owing to the increasing demand for energy-efficient buildings coupled with the growing adoption of green building materials in commercial, healthcare, and other sectors. Currently, the level of green building in the MENA region is lower than the MENA average for those doing the majority (more than 60%) of their projects green. Only 11% from the MENA region as a whole, and 12% from Saudi Arabia, report engaging in green building to that degree, significantly less than the 28% MENA average for that level of engagement, as per the World Green Building Trends 2021 Data. Moreover, addressing climate change and air pollution through clean energy solutions is a significant environmental concern. The strong government incentives, subsidies, and policies promoting green building materials are driving the shift towards green building materials.
Some of the major players operating in Saint-Gobain, LAFARGE, RAK CERAMICS, Kingspan Group, ALICO, Arabian Tile Company Ltd. – ARTIC, SABIC, Gulf Extrusions, Sika GCC, Owens Corning. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst application, the roofing segment held the largest share of the market in 2022.”
Based on the applications, the market is segmented into the market is segmented into framing, insulation, roofing, exterior siding, interior finishing, and others. Roofing held the largest share of the market. This is mainly due to the roofing materials are vital in protecting buildings from the harsh climate conditions prevalent in the MENA region. Green roofing materials, like cool roofs and solar panels, help reduce heat absorption and lower energy consumption. The MENA region’s abundant sunlight makes it an ideal location for solar energy adoption, which can be integrated into roofing systems. This has led to a surge in the use of green roofing materials as the region seeks to harness solar power for sustainable energy solutions.
“Amongst end-use, the residential is expected to grow with a significant CAGR during the forecast period (2023-2030).”
By end-use, the green building material market has been classified into residential, commercial, institutional, industrial, healthcare, and others. The commercial is expected to grow with a significant CAGR during the forecast period (2023-2030). Companies are increasingly recognizing the benefits of green buildings, such as lower operating costs and improved employee productivity. Green building materials play a crucial role in commercial construction, with features like energy-efficient HVAC systems, LED lighting, and recycled materials being incorporated to meet sustainability goals. As per IEA’s analysis, the highest sector that consumes energy in UAE is the Industry Sector followed by transport and residential sector. Agriculture/forestry sector consume the least energy within the UAE, in 2022.
“Saudi Arabia dominated the market.”
The green building materials industry holds a significant share in Saudi Arabia due to surge in green building materials due to its Vision 2030 plan, which includes a strong focus on environmental sustainability and reducing the carbon footprint. The construction sector is a significant contributor to the country’s economy, and the government is actively encouraging the use of eco-friendly materials and practices. This has created a substantial market for green building materials. Additionally, the abundance of renewable energy sources like solar power in the region provides opportunities for integrating energy-efficient technologies into building designs, further boosting the demand for such materials.
MENA Green building materials Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The MENA Green building materials market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the MENA Green Building Materials Market Analysis (2023-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the MENA Green building materials market were the three major steps undertaken to create and analyze the adoption of MENA Green building materials in major countries. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the MENA Green building materials market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the MENA Green building materials market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the MENA Green building materials market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & and sub-segments for major regions. Major segments are included in the report as application and end-use. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the MENA Green building materials market. Further, we conducted factor analysis using dependent and independent variables such as application and end-use of the MENA Green building materials market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the MENA Green building materials market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the MENA Green building materials market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the MENA Green building materials market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the MENA Green building materials market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Key Stakeholders of Green building materials Market in the MENA Region
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the MENA Green building materials market. The data was split into several segments & and sub-segments post studying various parameters and trends in the areas of the application and end-use of the MENA Green building materials market.
The main objective of the MENA Green building materials Market Study
The current & future market trends of the MENA Green building materials market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional and country level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the MENA Green building materials market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the application and end-use
- Define and analysis of the regulatory framework for the MENA Green building materials industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the MENA Green building materials market for the major region
- Major countries of regions studied in the report include Saudi Arabia, UAE, Egypt, Iran, and the Rest of MENA
- Company profiles of the MENA Green building materials market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
Frequently Asked Questions FAQs
Q1: What is the current market size and growth potential of the MENA Green building materials market?
Q2: What are the driving factors for the growth of the MENA Green building materials Market?
Q3: Which segment has the largest share of the MENA green building materials market by application?
Q5: Which country will dominate the MENA Green building materials market?
Q6: Who are the key players operating in the MENA Green building materials market?
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