Market Definition
Green building materials, also known as sustainable building materials or eco-friendly building materials, are various products & components used in the construction and renovation of buildings. These materials have a reduced impact on the environment and help promote sustainability by improving energy efficiency, resource conservation, & overall indoor air quality.
Market Insights & Analysis: Global Green Building Market (2023-28)
The Global Green Building Materials Market is projected to grow at a CAGR of around 12.37% during the forecast period, i.e., 2023-28. The growth of the market would be propelled mainly by the rapid rise in environmental consciousness & sustainability goals, the implementation of various regulations & policies by governments worldwide toward encouraging sustainable building practices, and numerous ongoing infrastructure development activities, particularly across developing nations.
Besides, the environmental & cost-saving benefits of green building materials are also augmenting their global demand. These materials offer energy-efficient features that can help reduce energy consumption as well as operational costs in buildings. Efficient insulation, LED lighting, smart controls, and renewable energy systems are all incorporated into green building materials, which make them attractive to building owners looking for long-term cost savings. Various consumers & businesses are prioritizing sustainability and thus seeking environmentally friendly products & services, including green building materials, which besides energy efficiency, offer many other benefits like improved indoor air quality, reduced water usage, and enhanced durability.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2018-21 |
| Base Year: 2022 | |
| Forecast Period: 2023-28 | |
| CAGR (2023-2028) | 12.37% |
| Regions Covered | North America: US, Canada, Mexico |
| Europe: Germany, The UK, France, Spain, Italy, Rest of Europe | |
| Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific | |
| South America: Brazil, Argentina, Rest of South America | |
| Middle East & Africa: UAE, Saudi Arabia, South Africa, Rest of MEA | |
| Key Companies Profiled | BASF SE, PPG Industries, Inc., E.I. du Pont de Nemours, Sika AG, Owens Corning, Forbo International SA, Redbuilt, Certainteed, Kingspan Group, Holcim, Bauder Ltd., Alumasc Group plc., Interface, Inc., Binderholz GmbH, Other |
| Unit Denominations | USD Million/Billion |
With technological advancements, the emergence of improved, more accessible, cost-effective, and versatile green building materials that include the use of recycled materials, bio-based materials, 3D printing, & advanced construction techniques is also aiding in enhncing the Green Building Material Market size. Moreover, the rising number of green building projects worldwide to curb carbon emissions is another prominent aspect augmenting the use of materials like straw hemp concrete, recycled plastic, mycelium, ferrock, bamboo rammed earth, straw bales, grass concrete, & wood concrete, among others, thereby creating lucrative prospects for the leading companies operating in the Global Green Building Materials Market.
Global Green Building Market Key Driver:
Ever-Increasing Focus on Sustainability & Environmental Conservation - Rising global concerns about climate change, depletion of natural resources, and environmental pollution are resulting in an increased awareness among individuals, businesses, & governments of the significance of sustainable practices, owing to which eco-friendly building materials are gaining traction as a way to reduce the environmental impact of buildings & construction activities. Many governments worldwide are implementing regulations & incentives toward promoting sustainable construction practices, such as building codes that require or incentivize the use of green building materials, tax credits for energy-efficient buildings, and grants for sustainable construction projects. As a result, green building materials are witnessing high demand as they offer energy-efficient features that can help reduce energy consumption in buildings, i.e., the prime aspect projected to drive the Global Green Building Materials Market through 2028.
Global Green Building Market Growth Restraint:
Higher Costs of Green Building Materials than Conventional Ones - Green building materials are often made using sustainable resources, have a low environmental impact, and offer energy-efficient features. However, their production processes and sourcing of eco-friendly materials are more expensive than traditional materials. This cost differential discourages some builders & developers from adopting green building materials, particularly in regions with no significant financial incentives or regulations toward promoting sustainable construction, i.e., the major growth restraint for the Global Green Building Materials Market.
Global Green Building Market (2023-28): Segmentation Analysis
The Global Green Building Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2023–2028 at the global, regional, and national levels. Based on the Application, and End-User the market has been further classified as:
Based on Application:
Among all, insulation holds a prominent share of the Global Green Building Materials Market. It is considered an essential component of green building practices and plays a significant role in improving energy efficiency, reducing heat loss or gain, as well as enhancing overall building performance. It is recognized extensively for its positive environmental impact & energy-saving potential.
Several insulation materials like fiberglass, cellulose, mineral wool, and spray foam are commonly used in both residential & commercial buildings to minimize thermal bridging, enhance indoor comfort, and reduce energy consumption for heating & cooling, thereby contributing greatly to achieving sustainable & energy-efficient building envelopes. Hence, the direct impact of insulated materials on energy efficiency and their widespread application in various building types are augmenting the growth of the green building materials industry globally.
Based on End-User:
Here, the residential sector is projected to attain a notable market share during 2023-28. It ascribes to the widening popularity of various types of green building materials in residential buildings owing to the rising preference for energy-efficient, moisture-resistant, durable, & easy-to-maintain materials. More & more homeowners are becoming aware of the benefits of green building practices, including energy efficiency, reduced environmental impact, and improved indoor air quality, i.e., pushing the demand for sustainable & eco-friendly homes and, consequently, driving the adoption of green building materials for residential construction.
Moreover, several green building certification programs, such as LEED (Leadership in Energy and Environmental Design) and ENERGY STAR, are further encouraging the use of green building materials in residential projects as both builders & homeowners seeking certification are choosing sustainable materials & practices to meet the criteria for these programs. Furthermore, building codes and energy efficiency regulations are also incentivizing the use of energy-efficient materials & systems like insulation, energy-efficient windows, as well as high-efficiency HVAC systems in the residential sector, thereby spurring growth in the global green building materials market.
Global Green Building Market Regional Projection
Of all regions globally, North America, particularly the US, is projected to become the largest Green Building Materials Market during 2023-28. It owes to stringent regulations on using environment-friendly materials in the construction industry, the ever-increasing adoption of green building technology in a large number of retrofitting & renovating applications, and several initiatives being taken by the US government toward reducing carbon emissions.
In addition, LEED, the most widely used green building rating system in the US that provides a framework for healthy, efficient, carbon-saving, & cost-saving green buildings, is another crucial aspect driving the regional market. There is a significantly rising demand for sustainable & energy-efficient buildings in the US, generated by homeowners, businesses, & organizations as they are increasingly aware of the environmental impact of buildings.
Moreover, the availability of numerous financial incentives & tax benefits like tax credits, grants, low-interest loans, & rebates for green building projects in the country is another prominent factor projected to drive the adoption of sustainable construction practices and stimulate the growth of the North America Green Building Materials Market over the coming years.
Global Green Building Industry Recent Developments
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Frequently Asked Questions
A. The Green Building Materials Market is forecast to grow at a CAGR of around 12.37% during 2023-28.
A. The growing focus on sustainability and environmental conservation is the prime aspect expected to drive the Green Building Materials Market during 2023-28.
A. BASF SE, PPG Industries, Inc., E.I. du Pont de Nemours, Sika AG, Owens Corning, Forbo International SA, Redbuilt, Certainteed, Kingspan Group, Holcim, Bauder Ltd., Alumasc Group plc., Interface, Inc., and Binderholz GmbH are the key players operating in the Green Building Materials Market.
A. Higher costs of green building materials than conventional ones might hamper the fledged growth of the Green Building Materials Market in the coming years.
A. The residential sector would create lucrative prospects for the leading participants in the Green Building Materials Market through 2028.
A. North America would continue providing profitable opportunities to the Green Building Materials Market over the forecast years.
Global Green Building Materials Market Research Report (2023-2028) - Table of Contents
