USD 312.5 billion
Green Building Materials Market Size, Share, Growth Analysis, By Product(Structural, Interior, Exterior, and Others), By Application(Exterior Siding, Interior Finishing, Insulation, Framing), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25G2009 |
Region:
Global |
Published Date: July, 2024
Pages:
242
|Tables:
92
|Figures:
72
Green Building Materials Market Insights
Global Green Building Materials Market size was valued at USD 379.57 Billion in 2022 and is poised to grow from USD 425.12 Billion in 2023 to USD 1052.58 Billion by 2031, growing at a CAGR of 12% in the forecast period (2024-2031).
Green building materials are used to construct a structure that is friendly to the environment. Using these resources helps to reduce the number of non-renewable resources used worldwide through conservation efforts. As consumers choose more environmentally friendly building materials than traditional ones, the market will grow. The materials lessen carbon footprints, which helps to slow down global warming. These materials are low-cost, easy to maintain, and low-energy and environmental impact. These benefits put them above more traditional building materials, making them the ideal choice. Furthermore, the increasing demand for these materials is becoming common in many construction projects because they reduce the environmental impact of building materials related to manufacturing, installation, processing, transportation, recycling, and disposal. The industry is expected to grow as consumers increasingly prefer such materials over traditional building materials. Demand for green building materials is expected to rise during the forecast period, as governments of various developed nations are framing policies and offering incentives to support green construction. "Green buildings" have the potential to not only save the world, but enhance people's general well-being, safety, and health.
US Green Building Materials Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Online
Fastest Growth
Online
Growth Rate
6.8% CAGR
Global Green Building Materials Market ($ Bn)
Country Share for North America Region (%)
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Green Building Materials Market Segmental Analysis
The Global Green Building Materials Market is segmented into product, application, and region. By product, the market is classified into structural, interior, exterior, and others. Depending on the application, it is categorized into exterior siding, interior finishing, insulation, framing, roofing, and others. Regionally, the market is analysed across North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa.
Analysis By Product
The structural segment holds a dominant position in the market for green building materials. This could be explained by the fact that the main framework of a building is always constructed using sustainable and environmentally friendly materials. The environment is impacted by the most crucial structural elements of a building, such as beams, columns, load-bearing walls, and so forth. As energy efficiency and carbon footprints have received greater concern in construction, increasing demand has focused on building structures with environmentally friendly structural materials such as bamboo, engineered wood, and recycled steel.
The interior segment with the highest growth rate is expected to increase the use for green building materials. This segment has grown in recent times at a very rapid rate, mainly due to individual demand for sustainable and healthy living. The popularity of eco-friendly paints, flooring, furniture, and insulation materials for interior spaces has recently surged due to growing public awareness of indoor air quality and its health implications. Besides, green building certifications and improved non-toxic, low-VOC material are some of the other factors that drive up the trend for green interior products. As such, business and residential owners increasingly realize the need for sustainable interior design, and thus this market witnesses a sharp rise.
Analysis By Application
Roofing is the largest segment due to the growing number of people opting to use green roofing materials. Green roofs are becoming more and more significant as a Nature-based Solution (NBS) to address many environmental and socioeconomic challenges related to climate change. Urban settlements are gaining interest in the field of global development because they currently contain 55% of the world's population and are predicted to expand to 68% by 2050. Towns, cities, and suburbs are instances of suburban areas. For urban communities to develop sustainably, they must expand. The New Urban Agenda and the 2030 Sustainable Development Goals spur cities' efforts toward sustainability.
The flooring segment is expected to see a remarkable growth during the forecast period. Green flooring is made from ecologically friendly processes and sustainable materials; the lifetime impact of the product is minimized on ecosystems. This includes the processes of production, harvesting, using, and disposing of. It is believed that green flooring will protect traditional renewable resource producers, which are an important source of revenue for many communities and will also make buildings safer and healthier. Eco-friendly solutions benefit everyone. They contribute to creating a healthier environment.
Global Green Building Materials Market By Product
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Green Building Materials Market Regional Insights
In 2023, North America dominated the global market share due to roofing material demand and insulation framing for residential, commercial, industrial, and infrastructure applications. The growing need for structures that maximize value, are ecologically benign, and use less energy. One cost-effective benefit of green buildings is lower energy costs. Expanding government programs have driven the market's growth even faster. In addition, the Canadian market increased at the fastest rate, while the U.S. market in North America had the highest market share.
Asia Pacific is the fastest-growing region. The sector makes use of a wide range of environmentally friendly products, including galvalume panels, linoleum, and fibre cement composites. The market is anticipated to grow over the course of the estimated period due to factors such new low- and high-rise residential buildings, existing structures being retrofitted, and new industrial buildings. Asia Pacific is anticipated to develop at the rapid rate of 12.0% over the projected period because of the region's thriving residential building sector. The region's product demand is anticipated to be fueled by the Paris Climate Agreement, which China and India accepted to combat climate change, and both countries' rising infrastructure construction.
Global Green Building Materials Market By Geography
- Largest
- Fastest
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Green Building Materials Market Dynamics
Green Building Materials Market Drivers
Regulations and Environmental Awareness
- Climate change and environmental degradation have been a cause for raising the realization of sustainable building materials. Governments and other institutions are laying down for stricter environmental regulations and giving incentives in the form of monetary advantages for using greener building practices. These promote the use of environmentally friendly materials within the building sector to provide further sustainability and reduction of carbon footprints.
Technological Innovation
- Green construction materials are changing and getting more effective and efficient due to technological advancements. Innovations such as improved insulation, energy-efficient windows, and eco-friendly production methods expand the range of materials that are available. As a result of increased performance and more market opportunities, this development pushes more people to adopt green construction practices.
High Startup Costs
- While there are long-term financial advantages to employing green building materials, some customers and organizations may be turned off by their higher initial costs when compared to normal materials. The initial cost of these materials can be a significant barrier, even if they have the potential to save money over time due to their reduced maintenance and energy efficiency.
Lack of Standardization
- The absence of uniform standards and certifications may lead to confusion about green building materials among experts and consumers. This disparity makes it challenging to assess products and verify their environmental claims, which could prevent the use of sustainable materials and create obstacles to the green building industry's ability to make well-informed decisions.
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Green Building Materials Market Competitive Landscape
The global green building materials market is fragmented by the presence of key players include BASF SE, PPG Industries, Inc., Sika AG, and Forbo International SA. There is very aggressive competition from local and international players with far-reaching supply chains, regulatory know-how, and wide distribution networks. Besides that, strategic partnerships are formed by the companies, mergers and acquisitions, license agreements for the purpose of expanding within existing markets.
Green Building Materials Market Top Player’s Company Profiles
- Kingspan Limited
- Lafarge Company
- BASF SE
- Sika AG
- PPG Industries, Inc.
- Wienerberger AG
- Alumasc Group plc.
- RedBuilt LLC
- Forbo International SA
- Homasote Company
- Owens Corning
- HOLCIM
- Binderholz GmbH
- CertainTeed Corporation
- Bauder Ltd.
Green Building Materials Market Recent Developments
- In October 2022, A significant provider of building solutions and material circularity in the UK, Wiltshire Heavy Building Materials was acquired by Holcim. The green building materials market in the United Kingdom will benefit from Holcim's increased market position thanks to this acquisition.
- In August 2022, A manufacturer and distributor of external building materials in Canada and the US, Kaycan, was purchased by Saint-Gobain. With this acquisition, Saint-Gobain increased its market dominance in light and sustainable building, taking over as the dominant siding provider in Canada and broadening its vinyl product line across the United States with complementing solutions in aluminum and engineered wood.
Green Building Materials Key Market Trends
- Expanding Market by Raising Awareness and Using Green Building Materials: Three billion tons, or a quarter, of the world's raw material consumption are used annually in building and construction activities. Using sustainable building products and materials promotes the conservation of limited, non-renewable resources on a global scale. By utilizing sustainable building materials in construction projects, the environmental impact of shipping, extracting, processing, installing, manufacturing, disposing of, recycling, and reusing these feedstocks used in the industry can also be reduced. The market growth is attributed to an increased demand for such materials in building and construction projects.
- Government Initiatives Towards Energy-Efficiency in Buildings: Green building is in high demand because of government policies that encourage energy-efficient building practices. Energy-efficient houses with lower energy consumption are highly valued in the home market. One of the main forces for market stimulation is this government endeavour. It is advisable to buy a building with water and energy-saving measures. Both the buyer and the environment gain from it.
Green Building Materials Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest Analysis, the green building materials market is being driven by the growing usage of these materials in both the residential and non-residential sectors. Companies across the globe are engaging themselves in the lucrative business of the green building supplies market. They are bringing more capital expenditure by providing a strong focus on higher quality products and R&D to meet consumers' demand. Since developing nations are still infrastructural building, the market for green building goods is growing at a rapid pace.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 379.57 Billion |
| Market size value in 2031 | USD 1052.58 Billion |
| Growth Rate | 12% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Green Building Materials Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Green Building Materials Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Green Building Materials Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Green Building Materials Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Green Building Materials Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Green Building Materials Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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