Redding, California - August 6, 2024
Green Building Materials Market to be Worth $791.8 Billion by 2031
Green Building Materials Market Size, Share, Forecast, & Trends Analysis by Type, Product (Exterior, Interior), Application (Roofing, Siding, Insulation, Flooring), Sector (Residential, Commercial) and Geography - Global Forecast to 2031
Meticulous Research®, a leading global market research company, published a research report titled ‘Green Building Materials Market by Type, Product (Exterior, Interior), Application (Roofing, Siding, Insulation, Flooring), Sector (Residential, Commercial) and Geography - Global Forecast to 2031’,
According to this latest publication from Meticulous Research®,the green building materials market is expected to reach $791.8 billion by 2031, at a CAGR of 9.9% during the forecast period from 2024 to 2031.
The market for green building materials is expected to grow due to various factors, such as the growing need for energy-efficient buildings and insulation, the increasing acceptance of green building materials across different industries, and the steadfast support of government policies that encourage green construction practices. On the other hand, this market's growth may be constrained by the higher initial capital cost when compared to traditional buildings.
Furthermore, it is anticipated that the players operating in this market will have significant growth opportunities due to the increasing emphasis on environmental sustainability. However, one obstacle impeding the expansion of the green building materials market is a lack of awareness of the advantages and accessibility of these products.
The green building materials market is categorized by type (recycled materials {recycled steel, recycled glass, recycled plastic, other recycled materials}, natural materials {bamboo, cork, straw bales, timber, other natural materials}, other materials), product (exterior products, interior products, solar products, and other products), application (roofing, insulation, flooring, siding, framing, and other applications), sector (residential, commercial {offices, retail spaces, hotels, educational institutes, and other commercial sectors}, and other sectors). This study also evaluates industry competitors and analyzes the market at the regional and country levels.
On the basis of type, this market is categorized into recycled materials, natural materials, and other materials. In 2024, the recycled materials category is expected to account for the largest share of over 54.0% of the green building materials market. The significant market share of this category is attributed to the increasing emphasis on the utilization of recycled materials, the escalating need for sustainable building materials, the emergence of government laws and incentives aimed at curbing construction waste, and the promotion of recycled material use. Furthermore, this segment is also poised to register a higher CAGR during the forecast period.
On the basis of product, this market is categorized into exterior products, interior products, solar products, and other products. In 2024, the exterior products category is expected to account for the largest share of over 43.0% of the green building materials market. This category’s large market share is due to surge in demand for high-performance insulation and reflective roofing, growing adoption of energy-efficient exterior products to reduce heating and cooling costs, rising consumer awareness of environmental issues, and rising adoption of innovative and sustainable exterior products. This market is anticipated to grow as a result of the rising demand for energy-efficient buildings and insulation, and the increased adoption of external goods to enhance indoor air quality.
On the basis of application, this market is categorized into roofing, insulation, flooring, siding, framing, and other applications. In 2024, the roofing segment is expected to account for the largest share of over 40.0% of the green building materials market. This category’s large share is attributed to the rising adoption of innovative roofing solutions in the residential sector, increasing demand for roofing materials to improve indoor comfort and healthier living environments, and rising demand for energy-efficient roofing materials. Moreover, this segment is also expected to register the highest CAGR during the forecast period.
On the basis of sector, this market is categorized into residential, commercial, and other sectors. In 2024, the residential segment is expected to account for the larger share of over 42.0% of the green building materials market. This category’s large market share is attributed to the increasing demand for insulation and energy-efficient buildings, increasing focus on environmental sustainability, and a growing number of building laws and policies for energy-efficient buildings. Furthermore, this segment is also anticipated to register the highest CAGR during the forecast period.
On the basis of geography, this market is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is estimated to account for the largest share of over 35.0% of the green building materials market. The large market share of this region is attributed to the presence of major players in the green building materials market, such as PPG Industries, Inc. (U.S.), CertainTeed, LLC (U.S.), Interface Inc. (U.S.), and DuPont de Nemours, Inc. (U.S.).
The need for green building materials in the region is driven by the growing need for energy-efficient structures and insulation, the growing focus on environmental sustainability, and the growing use of green building materials across a range of industries. In November 2023, the U.S. General Services Administration (GSA) stated that it will invest USD 2 billion in over 150 construction projects using cleaner construction materials, or ‘low-embodied’ carbon materials. This included USD 3.3 billion for GSA to invest in buildings, primarily through federally funded construction projects that use low-embodied carbon asphalt, concrete, glass, and steel.
However, APAC is expected to register the highest CAGR of 11.0% during the forecast period. The primary drivers of this region's growth are the increasing need for environment friendly building materials, the government's supportive policies for green buildings, and the growing public knowledge of the advantages and accessibility of these materials. Furthermore, the growth of this regional market is attributed to the burgeoning regional economies and the quick development of infrastructure, particularly in Japan, South Korea, and India.
Key Players
The key players operating in the green building materials market are DuPont de Nemours, Inc. (U.S.), Holcim Group (Switzerland), Interface Inc. (U.S.), Kingspan Group plc (Ireland), Owens Corning (U.S.), PPG Industries, Inc. (U.S.), Sika AG (Switzerland), Bauder Ltd. (U.K.), Amvic Inc. (Canada), Binderholz GmbH (Germany), Alumasc Group Plc (U.K.), BASF SE (Germany), CertainTeed, LLC. (U.S.), Forbo International SA (Switzerland), and LG Hausys Ltd (South Korea).
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Key Questions Answered in the Report:
- Which are the high-growth market segments in terms of material, product, application, and sector?
- What was the historical market size for green building materials globally?
- What are the market forecasts and estimates for 2024–2031?
- What are the major drivers, restraints, opportunities, challenges, and trends in the green building materials market?
- Who are the major players in the green building materials market, and what are their market shares?
- What is the competitive landscape like?
- What are the recent developments in the green building materials market?
- What are the various growth strategies adopted by major market players?
- What are the major market trends, and which are the high-growth countries?
- Who are the local emerging players in the green building materials market, and how do they compete with other players?
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