The green building materials market size was valued at $237.3 billion in 2020, and is projected to reach $511.2 billion by 2030, growing at a CAGR of 8.1% from 2021 to 2030.
Green building material is a material that improves a building structure's sustainability and efficiency in terms of design, construction, maintenance, and renovation. These materials are highly energy efficient and made from renewable waste sources. Mycelium, hempcrete, recycled plastic, straw bales, bamboo & wood, rammed earth, timbercrete, and grasscrete are utilized in the construction of green building material.
The concept of sustainable building incorporates and integrates a variety of strategies during the design, construction and operation of building projects. The use of green building materials and products represents one important strategy in the design of a building.
Green building materials offer specific benefits to the building owner and building occupants:
- Reduced maintenance/replacement costs over the life of the building.
- Energy conservation.
- Improved occupant health and productivity.
- Lower costs associated with changing space configurations.
- Greater design flexibility.
Using green building materials and products promotes conservation of decreasing non -renewable resources globally. In addition, integrating green building materials into building projects can help reduce the environmental impacts associated with the extraction, transport, processing, fabrication, installation, reuse, recycling, and disposal of these building industry source materials.
Green building materials comprise wood, straw hemp concrete, recycled plastic, ferrock, mycelium, straw bales, bamboo rammed earth, wood concrete, and grass concrete. The purpose of using green building materials is to build structures that are energy-efficient and support the ecological balance of the environment. Green building materials increase a building structure's sustainability and efficiency. These materials are made from renewable waste sources and are particularly energy efficient. The use of environmentally friendly building materials can address a number of environmental issues, including air pollution, the deterioration of natural resources, the extinction of species, and unnatural climate change. Due to these benefits, green building materials are the greatest replacement for conventionally used building materials.
The growing demand for green buildings is anticipated to boost the growth of the market during the forecast period. Green building refers to the technique of creating buildings and following construction, design, operation, maintenance, dismantling, and conversion processes that are resource- and environmentally conscious. The demand for green building materials is rising as more sustainable materials are employed in the construction of green buildings. For instance, research published in April 2022 by the commercial real estate services and investment firm CBRE India stated that over the previous five years, green building has attracted a lot of interest. A total of 78 million square feet of certified inventory were added over that time, representing a 37% increase in the supply of green-certified buildings. As a result, the market is growing due to the rising demand for green buildings.
Green building materials are becoming increasingly popular in various construction projects as they minimize the environmental impact of building materials associated with installation, transportation, manufacturing, processing, disposal, and recycling. Rise in preference for these materials over traditional construction materials is expected to boost the green building materials market's growth. They help to reduce carbon emissions, which in turn helps to reduce global warming. Additionally, they are energy-efficient & environmentally friendly, making them easy to maintain and cost effective. When compared to standard construction materials, the advantages of green building materials make them an excellent alternative. Furthermore, governments in developed nations implemented policies and incentives to encourage green construction, which is anticipated to boost the demand for green building materials. However, decreased income per capita in some of the countries is anticipated to restrain the construction activities from residential sector. This might hinder the green building materials market growth.
The green building material market is segmented into product type, application, and region. On the basis of product type, the market is segmented into exterior products, interior products, building systems, solar products, and others. By application, the market is segmented into residential building and non-residential buildings. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The green building material market share is analyzed across all significant regions and countries.
Major players that operate in green building materials market are Alumasc Group Plc (UK), Amvik Systems (Canada), BASF SE (Germany), Bauder Limited (UK), Binderholz GmbH (Germany), E. I. du Pont de Nemours and Company (U.S.), Forbo International SA (Switzerland), Interface Inc. (U.S.), Kingspan Group Plc (Ireland), and Owens Corning (U.S.).
Other key players in the global green building materials industry value chain include, Acoustical Surfaces, Inc. (U.S.); Cemex S.A.B. de C.V. (Germany); Cold Mix Manufacturing Corp. (U.S.); GE Sealants and Adhesives, Inc. (U.S.); Green Build Products (I) Pvt. Ltd. (India); Green Fiber, LLC (U.S.); Magicrete Building Solutions Pvt. Ltd. (India); Momentive Performance Materials Inc. (U.S.); National Fiber Technology, LLC (U.S.); Novagard Solutions, Inc. (U.S.); Onekin Green Building Materials Co. Ltd. (China); PPG Industries, Inc. (U.S.); RedBuilt, LLC (U.S); Reward Wall Systems, Inc. (U.S.); Sika AG (Switzerland); Soben International Eco Ltd. (China); Structurlam Products Ltd. (Canada); Sunlight Electrical Pte Ltd. (Singapore); Techno Green PVC Pvt. Ltd. (India); and ZinCo USA, Inc. (U.S.).
Green Building Material Market, by Product Type
The exterior product segment held the significant share in the green building material market in 2020 and is estimated to grow with a CAGR of 7.9% during the forecast period. Owing to the increased repair and maintenance activities in North America and Asia-Pacific region.
By Product Type
Solar Product is projected as the most lucrative segment.
Green Building Material Market, by Application
The residential building segment held the significant share in the green building material market in 2020 and is expected to grow at a CAGR of 7.4% during the forecast period. Owing to the growing number of building laws and policies requiring energy-efficient constructions, green building construction in the residential sector is increasing. This has created a market for environmentally friendly and energy-efficient building materials.
By Application
Non-residential Buildings is projected as the most lucrative segment.
Green Building Material Market, by Region
Asia-Pacific garnered the highest share in the green building material market in 2020, in terms of revenue, and is anticipated to maintain its dominance during the forecast period. This is attributed to increase in construction activities in this region. Maintenance and repair activities increased in the construction industry in these regions owing to increase in government maintenance activities and initiatives, which further contributes significantly in the growth of green building materials market.
By Region
Europe holds a dominant position in 2020 and Asia-Pacific is projected as the most lucrative region over the forecast period.
Key Benefits For Stakeholders
- The report includes in-depth analysis of different segments and provides market estimations between 2021 and 2030.
- The green building materials market size is provided in terms of $million.
- A comprehensive analysis of the factors that drive and restrict the growth of the green building material market is provided.
- Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
- Estimations and forecasts are based on factors impacting the green building material market growth, in terms of $million.
- Key market players are profiled to gain an understanding of the strategies adopted by them.
- This report provides a detailed analysis of the current green building material market trends and future estimations from 2021 to 2030, which helps to identify the prevailing green building materials market opportunities.
Green Building Materials Market Report Highlights
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Analyst Review
Environmental concerns and focus on sustainable infrastructure drive the development of green building construction in both residential and non-residential sectors. Due to high cost and low awareness about the benefits of green building, the penetration of green building in the residential sector is lower as compared to the non-residential. Emission reduction potential and low operating costs are the major factors that drive the growth of green building material market across the globe. New imitation slate materials are introduced in the market, which offer a longer lifespan to the roofs than asphalt and are available at a very low cost compared to original slate. These imitation materials are produced using 100% re-engineered and recycled materials, including cellulose and rubber. Recycled-content decking materials are increasingly replacing pressure-treated pine, cedar, and old-growth redwood in all non-structural deck applications as they offer cost savings and improved durability as compared to wood. In addition, these materials do not crack, rot, do not require staining, and are not treated with toxic chemicals.
Environment regulations aided the growth of green building materials market in emerging economies such as India and China, especially in the commercial sector. Singapore emerged as a green building model for developers and planners across Asia-Pacific by incorporating sun-shading exteriors, computer modelling of energy flows & carbon emissions, water-efficient fittings, and highly efficient HVAC systems in their building structures.
The Asia-Pacific green building material market offers promising opportunities for green building material manufacturers, owing to growth in infrastructure and rapid industrialization. In addition, increase in disposable incomes in developing economies, such as China, India, and Japan majorly fuel the market. However, many construction projects are halted or postponed due to the COVID-19 pandemic, which hinder the demand for green building material.
The increasing applications of green building materials in residential and non-residential sectors is driving the green building material market.
The green building material market size was valued at $237.3 billion in 2020, and is projected to reach $511.2 billion by 2030, growing at a CAGR of 8.1% from 2021 to 2030.
Alumasc Group Plc, Amvik Systems, BASF SE and Kingspan Group Plc are some of the most established players of the global Green Building Materials market.
Non-residential application is projected to increase the demand for Green Building Materials Market.
• By Product Type o Exterior Products o Interior Products o Building Systems o Solar Products o Others • By Application o Residential Buildings o Non-residential Buildings
Increasing demand for green building materials over traditional construction materials and increased construction activities in developing region is driving the demand for green building materials.
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