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)

In the UAE, in May, the cabinet approved a total of 78 environmental initiatives in preparation for hosting COP28.

Six Emirati banks have supported the green energy initiatives in the UAE by funding projects worth USD51.8 billion in 2022, according to the UAE Banks Federation. In July, Abu Dhabi Global Market (ADGM) announced the implementation of its sustainable finance regulatory framework with immediate effect.

In November 2022, Saudi Arabia announced 13 new renewables projects in latest move towards net-zero. Saudi Arabia is constructing the world’s largest green hydrogen plant at NEOM, the USD500 billion futuristic megacity being built on the Red Sea.

Morocco has set an ambitious target of achieving a 52 percent share for green building materials in its electricity mix by 2030. At the end of 2021, the country had 4,109MW of green building materials capacity in operation from wind, hydro and solar projects.

There are early signs of adoption of UN PRI in MENA as evidenced by a growing number of signatories. UAE tops all other countries with 18 signatories, followed by Saudi and Tunisia which had four signatories each by end of July 2023.

Green building materials are materials that are environmentally responsible and resource-efficient throughout a building's life cycle, from planning to design, construction, operation, maintenance, renovation, and demolition. The rising government’s carbon-reducing goals and massive abundance of green building materials resources in the MENA region are driving the growth of green building materials. In the UAE, in May, the cabinet approved a total of 78 environmental initiatives in preparation for hosting COP28. In July, Abu Dhabi Global Market (ADGM) announced the implementation of its sustainable finance regulatory framework with immediate effect. The growing energy demands through sustainable sources and green building materials projects offer job opportunities and stimulate economic growth.

The report suggests that the rising government’s carbon-reducing goals and massive abundance of green building materials resources in Middle East and North Africa (MENA) region had a significant impact on the green building materials industry in the MENA region. Some of the ways in which this impact has been felt include:

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In July 2020, Air Products & Chemicals (“Air Products”), whose principal business is selling gases and chemicals for industrial use, announced plans to build a green hydrogen plant in Saudi Arabia. The plant will be powered by 4 GW of wind and solar power, making it the world's largest such project.

In March 2020, the DEWA Research and Development Centre (the “R&D Centre”), part of the Mohammed bin Rashid Al Maktoum Solar Park, was opened. The R&D Centre is focused on four major operational areas: “electricity generation from solar and clean energy, integration of smart grids, energy efficiency, and water”.

In October of this year, the UAE became the first Gulf country to commit to eliminating planet-warming emissions within its borders. The UAE committed to invest AED 600 billion (USD 163 billion) in clean and green building materials by 2050 as part of its efforts to achieve climate neutrality. In addition, the UAE has recently announced that it has won its bid to host the COP28 conference in 2023 (the UN Climate Change Conference is the largest global conference of heads of states and governments on climate and environmental issues).

Apart from this, in recent years, several governments in the Middle East and North Africa have implemented policies and provided funding support to enhance the growth of the Green building materials industry. Some examples include:

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Conclusion

In conclusion, The MENA region is witnessing a surge in green building materials capacity, with solar and wind energy potential fulfilling local demands and setting the stage for becoming green building materials exporters. 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.

Key Offerings of the Report

Market Size, Trends, & Forecast by Revenue | 2023−2030

Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities

Market Segmentation – A detailed analysis by Application, and End-Use

Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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