ENERGY EFFICIENT MATERIAL MARKET ANALYSIS
The global energy efficient material market size is projected to reach US$ 16.56 billion by 2025, and register a CAGR of 7.1% over the forecast period (2019 - 2027).
Market Trends
The need for reducing energy costs and conserving the environment have led to a high demand for energy efficient materials. Material efficiency means reducing the degree to which raw material is used, wasted, consumed, or incorporated in manufacturing and transportation processes.
Market Outlook
Regions such as North America and Europe are expected to be the largest markets owing to the colder climate in the region which requires effective window insulations and lighting systems. Furthermore, incentives and tax credits provided by governments in the EU and in the U.S. for energy efficient materials are projected to account for a major market share in the energy efficient material market in Europe and North America. Increasing awareness of sustainable living and energy efficiency in the Asia Pacific region are likely to benefit the market growth in the region. Moreover, rapid industrialization and increasing gross domestic product (GDP) in countries in South America, Middle East, and Africa are projected to result in considerable demand for energy efficient products in these geographies.
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