Green Building Materials Market (Updated Version Available)

Key Market Overview:

Green Building Materials Market: Surging to USD 858.63 Billion (2030) from USD 347.10 Billion (2022) at 12.4% CAGR (2023-2030). Eco-friendly growth ahead!

Green building materials, also termed as ecological materials, are among building construction resources that have less implications on the environment. These materials are renewable in nature and are available in the form of bamboo, cork, reclaimed wood, straws, and among others.

Factors including rising demand for sustainable design and infrastructures in order to reduce carbon emission is driving the demand for green building materials. Moreover, with the adoption of improved designs and construction materials that significantly eliminate the negative impact on environment is promoting the growth of green building materials.

For instance, CertainTeed, a producer of roofing materials, is manufacturing Landmark Solaris, an energy star product that helps in reducing the environmental impact. Moreover, product including Symphony, CT 20, XT 25AR, XT 30 are among few of the flagship products are designed to reduce CO2 emission from building.

Green Building Materials Market Report Coverage:

Report Attributes	Report Details
Study Timeline	2017-2030
Market Size in 2030 (USD Billion)	858.63 Billion
CAGR (2023-2030)	12.4%
Base Year	2022
By Application	Roofing, Flooring, Framing, Insulation, and Others
By End User	Residential and Non-Residential
By Geography	Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia] Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey] North America [United States, Canada, Mexico] Middle East & Africa [GCC, North Africa, South Africa] South America [Brazil, Argentina, Columbia, Chile, Peru]
Key Players	BASF SE, PPG Industries, Inc., DuPont, Sika AG, Forbo International SA, Owens Corning, REDBUILT, CERTAINTEED, HOLCIM, Kingspan Group

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Market Dynamics:

Driver:

Rising demand for sustainable construction materials is driving the growth of green building materials market

Building materials including wood, concrete, and others are among vital components that form a building block for the formation of infrastructure. Based on the type of materials, energy consumption of a building varies, thus determining the energy efficiency of the building. Moreover, at various stages of construction, the choice of materials plays a key factor in constructing an energy efficient building.

For instance, according to the U.S. Department of Energy, a building in United States consume 40% of the energy and accounts for emission of more that 43% of greenhouse gases. Thus, green building materials play a key role by reducing the consumption of energy to less than 35% by application of products including fiberglass-reinforced doors, windows, and others. For instance, Owens Corning\'s manufactures energy efficient products such as fiberglass-reinforced windows namely, Solace that significantly reduce the consumption of energy in a building.

Thus, owing to the rising concern towards energy utilization and finding of a better solution to reduce carbon emissions is driving the market growth for green building materials.

Restraint:

Fluctuation in raw material pricing tends to be restraining the market growth for green building materials

The key factors restraining the market growth for green building materials include availability of skilled labor coupled with constant fluctuation in the price of raw materials. Owing to the properties constituted by green building materials that include application of low carbon emission construction materials tend to increase the raw material pricing. For instance, according to United States Green Building Council, the cost implemented for construction of Green Building is 2-3% higher than the traditional form of constructions.

Furthermore, with the growing challenges including availability of skilled labor and raw materials from suppliers tends to be restraining the market growth of green building materials.

Green Building Materials Market Segmentation:



By Application

The Application segment is categorized into roofing, flooring, framing, insulation, and others.

Roofing accounted for the largest market share in 2022 owing to increasing adoption of natural based solutions in the manufacturing of green house building. For instance, CertainTeed roofing materials are manufactured with recycled contents including stone granules, slag, corrugated mixed papers and sludges. The key factors contributing to the demand for aforementioned product is due to its recyclable properties contributing in the market growth for green building materials.

Furthermore, aforementioned materials induce less impact on environment by avoiding piling up of unused materials in the landfills.

Moreover, flooring is projected to witness the fastest CAGR during the forecast period owing to rising demand for sustainable products. The increasing concept of green flooring tends to be one of the major factors in the rise in demand for green building materials required for flooring. For instance, cork flooring is one of the flooring types being implemented in the green building. Owing to its source from the bark of cork oak tree which tend to grow back after being harvested makes it a renewable resource thus promoting the market growth.

By End User

The end user segment is segmented into residential and non-residential.

The residential segment is accounted for the largest market share in 2022, owing to the growing residential construction sector. In addition, with the increasing demand for sustainable green building practices in the residential sector is further promoting the growth of the segment. According to Dodge Construction Network, there has been a significant percent increase in the construction of high rise residential buildings among countries including China, Saudi Arabia, Columbia, India, and Cameroon by 64%, 63%, 53%, 44%, and 33% respectively during 2021. Thus, a rise in demand for sustainable energy efficient residential buildings among developing nations is boosting the demand for green building materials in the residentials sector.

Moreover, non-residential sector includes commercial & office, institutional, industrial, and others. The non- residential segment is projected to grow at the fastest CAGR during the forecast period, 23-2030. The key factor propelling the growth of the segment in near future is owing to goal attainment of net zero by European nations including few of the developing countries such as India and China. Furthermore, with rising focus in reducing metal and polymer waste in developed nations is further projected to fuel the market growth for green building materials.

By Region:

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America region is accounted for largest market share in the year 2022, attributed by factors including green building initiatives, Energy and Environmental Design (LEED) coupled with strict regulations towards carbon emission. According to Building Design+ Construction data, U.S. is considered as a leader in the development of green building with 124,200 LEED certified buildings in the region.



Moreover, Asia-Pacific region is anticipated to witness substantial growth during the forecast period. The market growth in the Asia-Pacific region is attributed to several factors including implementation of standards such as LEED. Based on the initiative, the numbers of green buildings certification accounted for China and India was 5,678 and 2,246 respectively in the year 2021. Owing to the rising government initiatives in the development of energy efficient building to minimize energy consumption in the region is projected to fuel the market growth of green building materials in the region.

Green Building Materials Market Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), product innovation, various business strategies, and application launches have accelerated the growth of the micro irrigation systems market. Key players in the market include-

• BASF SE
• PPG Industries, Inc.
• DuPont
• Sika AG
• Forbo International SA
• Owens Corning
• REDBUILT
• CERTAINTEED
• HOLCIM
• Kingspan Group

Recent Developments

• October 2022, Holcim acquired Wiltshire Heavy Building Materials to produce green building materials from waste of demolished buildings to manufacture concrete for green building
• September 2021, Kingspan\'s has developed center for research, test and development of its products for green building. The building is certified by LEED Gold