New York, July 11, 2023 (GLOBE NEWSWIRE) -- Global Green Building Material Market size accounted for USD 285.4 Bn in 2022. It is projected to surpass around USD 768.8 Bn by 2032, and it is poised to reach a CAGR of 10.7% from 2023 to 2032.
Construction companies use green building materials to construct an eco-friendly house or building. It is manufactured so that it does not harm the environment. Using green building materials for construction provides several benefits, like greater design flexibility, energy conservation, lower cost for changing space configurations, and many other benefits. Utilizing green building materials is beneficial for environmental preservation and the health of the building's occupants. Green building materials reduce the carbon footprint of construction activities, promoting sustainability on multiple levels. In addition to reducing waste, these materials actively promote recycling and the use of reclaimed materials.
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Key Takeaway
- By Type, structural type leads the segment by covering the major revenue share in the account.
- By Application, roofing dominated the application segment in the global green building material market.
- North America held a major revenue share of 36% in 2022.
- Asia Pacific market is anticipated to grow at a significant CAGR of 12% over the forecast period.
Green buildings are able to successfully reduce energy consumption and the need for artificial heating and cooling systems by maximizing natural illumination and ventilation. This results in decreased energy costs, decreased carbon emissions, and improved environmental sustainability. In addition, the use of green building materials significantly contributes to enhanced indoor air quality, thereby creating healthier living and working environments and mitigating the risks of respiratory ailments commonly associated with conventional building materials. These benefits encourage more individuals to adopt green building materials in their building construction.
Factors Affecting the Growth of the Green Building Material Market
Several factors can affect the growth of the green building material market. Some of these factors include:
- Growing Environmental Awareness: The growing environmental awareness among individuals across the world is a primary factor boosting the growth of the global green building material market. Many individuals are adopting green building material-based houses and other construction sites in order to reduce their carbon footprint and protect the environment from further harm.
- Supporting Governmental Initiatives: The governments of many countries are introducing various schemes and initiatives to support the use of green building materials. This is expected to propel the growth of the green building material market in the upcoming years.
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Top Trends in Global Green Building Material Market
Green roofs and walls are gaining popularity due to their energy efficiency and aesthetic appeal. A green roof is a roof covered with vegetation, whereas a green wall is a wall covered with plants. These structures provide numerous advantages, such as natural insulation, air purification, and enhanced aesthetic appeal. They also contribute to energy conservation by reducing the amount of heat absorbed by buildings, resulting in reduced ventilation expenses. Increasing demand for green roofs and walls has led to a rise in the use of green building materials, such as insulation materials, waterproofing membranes, and living roof systems.
Market Growth
There is a rising demand across industries for environmentally favorable and sustainable products, and the construction industry is no exception. Consumers, including homeowners, tenants, and businesses, are becoming more environmentally conscious and actively seeking green buildings. Green building materials offer developers, builders, and manufacturers a distinct selling factor and market advantage. Meeting consumer demand and remaining ahead of market trends are significant growth drivers for the market for green building materials.
Regional Analysis
North America leads the global green building material market by covering a major revenue share of 36%. The growth of North America is attributed to the increasing adoption of green building codes and standards, which were developed to aid the construction industry in reducing its carbon footprint and promoting sustainable practices within the region. These green building codes and standards have been implemented to help meet the growing demand for eco-friendly structures by reducing the environmental impact of buildings. This indicates that the construction industry is now utilizing eco-friendly building materials, such as bamboo, recycled steel, lime, hemp, and straw bale.
This growing trend of ecological building in North America is a welcome development. It indicates that the emphasis has shifted from producing only aesthetically appealing structures to functional, sustainable, and cost-effective structures. After North America, Asia Pacific is expected to grow at a significant CAGR of 12% over the forecast period. The increasing population and growing demand for eco-friendly and sustainable building materials are expected to drive the growth of the green building material market over the forecast period.
Competitive Landscape
The competitive landscape of the market has also been examined in this report. Some of the major players include BASF SE, Owens Corning, Forbo International SA, Alumasc Group Plc, Bauder Limited, Binderholz GmbH, CertainTeed Corporation, RedBuilt LLC, PPG Industries, DuPont, etc.
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Scope of Report
| Report Attribute | Details |
| Market Value (2022) | USD 285.4 Bn |
| Market Size (2032) | USD 768.8 Bn |
| CAGR (from 2023 to 2032) | 10.7% |
| North America Revenue Share | 36% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
Climate change and environmental sustainability concerns are propelling the demand for green building materials in the market. Green building materials are intended to have less environmental effects throughout their lifecycle than the other materials in the market. The adoption of green building materials has resulted from the emphasis on lowering carbon emissions, conserving resources, and promoting sustainable practices. Green construction materials are known for their energy efficiency.
They contribute to the enhancement of a building's energy performance by reducing energy consumption for heating, cooling, and illumination. This in turn, results in significant energy bill cost savings over the lifetime of a building. The potential for long-term financial benefits is acting as a significant motivator for the green building materials market.
Market Restraints
The high cost of green building materials is one of the primary factors preventing their widespread adoption. Green building materials involve complicated manufacturing processes and higher-quality materials, which can result in a higher initial cost than conventional building materials. This high cost can be challenging for builders and consumers to justify in the short term, as they may not see an immediate return on their investment.
However, green building materials have a longer lifespan than conventional building materials and have been demonstrated to save money over time due to their energy efficiency and durability. The limited availability and accessibility of green building materials in certain regions is another factor that inhibits their widespread use. This limited availability is frequently the result of insufficient demand or the lack of the necessary infrastructure to produce and distribute these materials on a larger scale.
Market Opportunities
Innovative green building materials and technologies have created new sustainable construction opportunities. Using green concrete created by substituting conventional concrete with industrial byproducts, such as fly ash, can reduce CO2 emissions by up to 80%. In addition, green roofs and walls can absorb carbon dioxide, reduce the effects of heat islands, and provide habitat for birds and invertebrates.
In addition, novel insulation materials made of natural fibers such as wool, cotton, and hemp can reduce energy consumption and increase energy efficiency. In addition, advancements in renewable energy technologies, such as solar power, wind turbines, and geothermal heating and cooling systems, have created new opportunities for sustainable building practices. These factors are expected to create many opportunities in the global green building material market over the forecast period.
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Report Segmentation of the Green Building Material Market
Type Insight
Due to the environmental benefits, sustainable materials like bamboo, straw bales, and adobe bricks are gaining popularity in the structural segment of the green building materials market. This is driving the growth of structural material in the type segment of the global green building material market. The other benefits of green structural material are a smaller carbon footprint, increased energy efficiency, and the ability to be recycled. In addition, these materials provide superior performance and durability and are cost-effective over time. Due to these factors, the structural segment is anticipated to experience the highest development rate in the coming years.
Application Insight
The roofing segment leads the green building materials market. This segment includes roofing materials such as photovoltaic tiles, green roofs, and cool roofs, which offer environmental benefits such as increased energy efficiency and a reduced urban heat island effect. Consumers are seeking roofing materials that offer environmental benefits, such as increased energy efficiency and a smaller carbon footprint, as they become more environmentally conscious. Due to their environmental benefits, there is a growing demand for solar tiles and green roofs in the roofing industry.
Global efforts to reduce carbon footprint and mitigate the effects of urbanization are anticipated to increase demand for environmentally friendly roofing materials. Innovative roofing materials are being developed as a result of technological advancements, promoting their use in green building projects. Due to all these factors, roofing is expected to grow significantly over the forecast period.
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Market Segmentation
Based on Type
- Structural
- Exterior
- Interior
- Other Types
Based on Application
- Roofing
- Framing
- Insulation
- Interior Finishing
- Exterior siding
Key Regions
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Market Key Players
- BASF SE
- Owens Corning
- Forbo International SA
- Alumasc Group Plc
- Bauder Limited
- Binderholz GmbH
- CertainTeed Corporation
- RedBuilt LLC
- PPG Industries
- DuPont
- Other Key Players
Recent Development of the Green Building Material Market
- In 2021, Owens Corning entered the green building materials market with the introduction of a new line of insulation products made from recycled and renewable materials. This innovation is essential for reducing environmental impact and fostering sustainable building practices.
- In 2020, The German chemical conglomerate BASF also contributed to the trend by introducing a variety of green concrete additives. The new products are intended to reduce the carbon footprint of concrete, which is an indispensable building material.
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