Green Building Materials Market By Type (Structural, Interior, Exterior, Others), By Application (Framing, Insulation, Roofing, Interior & Exterior Finishing, Other), By End-Use (Residential, Commercial offices & Buildings, Institutions, Others), And Region - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits - Forecast 2024-2030

Industry : Chemicals & Materials | Pages : 179 Pages | Published On : Jun 2024

         
     
The Green Building Materials Market is Valued USD 334 Billion in 2023 and projected to reach USD 648.3 Billion by 2030, growing at a CAGR of 11.2% During the Forecast period of 2024-2030.

Market Overview

The green building materials market is poised for growth due to a variety of factors. To begin with, these materials provide both environmental and economic advantages. They boast a reduced carbon footprint, necessitate less maintenance and water, and have the potential to cut energy expenses. Furthermore, an increasing demand for sustainable construction methods is propelling the market forward. Consumers and developers are showing a growing interest in cost-effective, eco-friendly, and energy-efficient structures. Government policies that support green building initiatives and aid in the economic recovery of the construction industry are also fueling market expansion.

Despite these promising prospects, there are obstacles that must be addressed. The upfront cost of green materials may exceed that of traditional materials, and inconsistent enforcement of energy regulations could impede market growth. Moreover, certain consumers may prioritize lower initial costs over long-term savings due to price sensitivity. Nevertheless, the market is anticipated to flourish in the long run, driven by a focus on achieving carbon neutrality, decreasing operational expenses of green buildings, and the rising use of recycled construction materials. Currently, North America leads the market due to the strong demand for green building materials across various sectors.

Green Building Materials Market Size

Graph
ReportDetails
Market Size ValueUSD 334 Billion in 2023
Market Size ValueUSD 648.3 Billion by 2030
CAGR11.2%
Forecast Period2024-2030
Base Year 2023
Historic Data2020
Segments CoveredApplication . Material Type and Region

Major vendors in the global Green Building Materials Market are PPG Industries, E. I. du Pont de Nemours and Company, Forbo International SA, Interface Inc., Kingspan Group plc, Lafarge, BASF SE, Owens Corning, National Fiber, RedBuilt, LLC, CertainTeed Corporation, Binderholz GmbH, Sika AG, Holcim, Bauder Limited and Alumasc Group and Others.

Shift towards Green buildings

The construction industry is a major contributor to global energy consumption and emissions, according to the International Energy Agency. In 2023, buildings were responsible for 30% of global final energy consumption and 26% of global energy-related emissions. This breaks down to 8% direct emissions from buildings themselves and 18% indirect emissions from the production of energy used in buildings.

Sustainable construction practices, which include the use of green building materials, offer a way to reduce this environmental footprint. Green materials are typically made from renewable resources and are designed to be energy-efficient throughout a building's life cycle, from construction to demolition. Examples of these materials include recycled plastic, bamboo, and straw bales. This not only reduces greenhouse gas emissions but also helps conserve natural resources and combat environmental issues like air and water pollution. The growing demand for green buildings is anticipated to boost the market for green building materials in the coming years. For instance, a report by CBRE India, a commercial real estate services and investment company, found that in April 2022, the supply of green-certified buildings in India had increased by 37% over the past five years, adding 78 million square feet of certified inventory. This surge in green building construction highlights the increasing demand for sustainable construction practices and the materials that support them.

Market Dynamics

Drivers:

  • Increasing awareness of environmental sustainability
  • Need to reduce the carbon footprint
  • Shift towards Green buildings
  • Government initiatives and green building certifications

Opportunities:

  • Minimal upkeep and operational expenses
  • Government-mandated environmental restrictions and regulations on alternative substances
  • Rapidly increasing construction rates in the emerging area.

Government-mandated environmental restrictions and regulations on alternative substances

Government regulations have created significant opportunities for the Green Building Materials Market. For example, the European Union's ban on certain flame retardants in 2004 resulted in a surge in the development and adoption of safer alternatives, expanding the market for non-halogenated flame retardants, which is projected to reach USD 4.7 Billion by 2027. Similarly, California's law mandating the recycling of construction and demolition waste has driven demand for recycled content building materials. Stringent air quality regulations in China are also fueling the adoption of LEED certification for green buildings, which in turn increases demand for green building materials. Finally, tax credits and deductions offered in the US for building projects using green materials incentivize construction companies to source from sustainable manufacturers, giving them a competitive advantage. These real-world examples highlight how government regulations promote market growth for compliant and sustainable materials, innovation in eco-friendly alternatives, increased use of recycled content materials, a competitive edge for green manufacturers, and overall growth in green building certifications, paving the way for a more sustainable construction industry.

The market for Green Building Materials is dominated by North America.

In 2024, North America holds the largest share of the green building materials market, driven by factors such as stringent building codes that support green materials, increasing renovations, and a focus on energy efficiency (e.g., LEED certification system). Government efforts to promote energy-efficient buildings are also contributing to market expansion in this region. Meanwhile, Asia Pacific is projected to experience the most rapid growth due to a thriving residential construction industry and expanding infrastructure development, particularly in China and India. The Paris Agreement and growing environmental consciousness are also key factors.

Asia Pacific is expected to experience the fastest growth in spite of already having the highest market share in 2020. This growth is attributed to the increase in residential and industrial construction, building retrofits, and infrastructure development. The demand for green building materials is also being boosted by the influence of the Paris Agreement and the rising disposable incomes in countries like China, India, and Japan. On the other hand, Europe's market growth is being primarily driven by stringent regulations and a focus on minimizing maintenance costs for buildings. The COVID-19 pandemic has, however, led to temporary setbacks in the industry.

The Roofing type segment is anticipated to hold the largest market share during the forecast period

In 2024, Roofing is expected to remain the largest segment in the coming years due to the increasing use of green roofing materials. Green roofs are becoming more important as Nature-based Solutions (NBS) to address various environmental and socio-economic issues related to climate change. Urban settlements are gaining attention in global development, as they currently house 55% of the world's population and are projected to increase to 68% by 2050. Urban settlements include suburbs, cities, and towns. The sustainable development of urban settlements depends on their growth. The New Urban Agenda and the 2030 Sustainable Development Goals support cities' commitment to sustainability.The flooring segment is expected to experience significant growth in the forecast period. Green flooring is made from sustainable materials and through a sustainable process that reduces the impact on ecosystems throughout its life cycle. This includes production, harvesting, use, and disposal. Green flooring is believed to create healthier and safer buildings and ensure a future for traditional producers of renewable resources, on which many communities depend. In addition, eco-friendly options often create a healthier environment for everyone who works or lives in the building.

The insulation segment is expected to see moderate growth in the forecast period as it is an energy-saving measure that provides resistance to heat flow. Naturally, heat flows from a warmer to a cooler space through many surfaces of a building such as ducts, walls, and roofs. Insulating a home can reduce heat loss in buildings in cold weather or climate and excess heat in warmer weather or climate.

Major Segmentations Are Distributed as follows:

  • By Type:
    • Structural
    • Interior
    • Exterior
    • Others
  • By Application:
    • Framing
    • Insulation
    • Roofing
    • Interior & Exterior Finishing
    • Other
  • By End-Use:
    • Residential
    • Commercial offices & Buildings
    • Institutions
    • Others
  • By Region
    • North America
      • U.S.
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Colombia
      • Chile
      • Peru
      • Rest of Latin America
    • Europe
      • Germany
      • France
      • Italy
      • Spain
      • U.K.
      • BENELUX
      • CIS & Russia
      • Nordics
      • Austria
      • Poland
      • Rest of Europe
    • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Thailand
    • Indonesia
    • Malaysia
    • Vietnam
    • Australia & New Zealand
    • Rest of Asia Pacific
    • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Nigeria
    • Egypt
    • Israel
    • Turkey
    • Rest of MEA

 Recent Developments

  • In October 2022: Holcim completed the acquisition of Wiltshire Heavy Building Materials, a leading company in the United Kingdom's building solutions and material circularity sector. This strategic move will enhance Holcim's position in the green building materials market in the United Kingdom.
  • In August 2022: Saint-Gobain finalized the acquisition of Kaycan, a prominent manufacturer and distributor of exterior building materials in Canada and the United States. This acquisition further solidified Saint-Gobain's global leadership in light and sustainable construction, establishing the company as the top player for sidings in Canada and expanding its vinyl offering across the United States with complementary solutions in aluminum and engineered wood.
  • In January 2022: Binderholz GmbH, a subsidiary of the Austrian Binderholz Group, successfully acquired BSW Timber Ltd, a company that produces over 1.2 million m3 of sawn timber annually. This acquisition has positioned Binderholz GmbH as the largest sawmill and solid wood processor in Europe.
  • In April 2021: Lafarge Egypt, a member of LafargeHolcim, launched Ecolabel cement for the first time in Egypt, meeting the company's green criteria and reducing the carbon footprint.
  • In November 2020: Lhoist, a U.K.-based company specializing in lime-based products, developed Tradical Hemcrete, a recyclable product that consumes less energy. Tradical Hemcrete, made from a mixture of hemp wood, water, and lime, is used for constructing walls and renovating old buildings as an insulation material.
  • In May 2020: RedBuilt and SmartLam North America formed a partnership to supply Cross Laminated Timber (CLT) solutions and products to engineers, contractors, and architects for projects utilizing mass timber building technology. RedBuilt will exclusively distribute Smart Lam CLT on the West Coast, Pacific Northwest, and Southwest.

Answers to Following Key Questions:

  • What will be the Green Building Materials Market’s Trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers in the Green Building Materials Market?
  • What are the main forces behind worldwide Green Building Materials Market? Which companies dominate Green Building Materials Market?
  • Which companies dominate Green Building Materials Market? Which business possibilities, dangers, and tactics did they embrace in the market?
  • What are the global Insight Engines industry's suppliers' opportunities and dangers in Green Building Materials Market?
  • What is the Insight Engines industry's regional sales, income, and pricing analysis? In the Green Building Materials Market, who are the distributors, traders, and resellers?
  • What are the main geographic areas for various trades that are anticipated to have astounding expansion over the Green Building Materials Market?
  • What are the main geographical areas for various industries that are anticipated to observe astounding expansion for Green Building Materials Market?
  • What are the dominant revenue-generating regions for Green Building Materials Market, as well as regional growth trends?
  • By the end of the forecast period, what will the market size and growth rate be?
  • What are the main Green Building Materials Market trends that are influencing the market's expansion?
  • Which key product categories dominate Green Building Materials Market? What is Green Building Materials Market’s main applications?
  • In the coming years, which Green Building Materials Market technology will dominate the market?

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Company Market Share

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