Green Building Materials Global Market Report 2024

The green building materials market size has grown rapidly in recent years. It will grow from $305.63 billion in 2023 to $338.53 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The expansion observed during the historical period can be credited to robust economic growth in emerging markets, heightened construction activities in developing regions, favorable governmental policies promoting green buildings, population growth, advancing industrialization, a low-interest-rate environment, and technological advancements.

The green building materials market size is expected to see strong growth in the next few years. It will grow to $490.8 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The anticipated growth in the forecast period is linked to a heightened requirement for sustainable and eco-friendly solutions, a growing demand for energy-efficient buildings, and the expanding applications of green building materials in both residential and non-residential sectors. Prominent trends expected in the forecast period encompass a concentration on environmentally friendly building materials, an emphasis on mass timber technology, a focus on adopting mineral wool insulation techniques, a priority on green cement, an emphasis on eco-friendly paints, a spotlight on new product launches, and an increased focus on partnerships and collaborations.

The growth of the green building materials market is anticipated to be propelled in the forthcoming years due to an increased demand for green buildings. Green building involves the application of ecologically responsible and resource-efficient procedures and designs throughout various stages, including site selection, design, construction, operation, service, remodeling, and deconstruction. The surge in demand for green buildings is directly influencing the expansion of the market for green building materials. Notably, a report from CBRE India in April 2022 revealed a significant rise in attention towards green building over the past five years, with a 37% increase in the supply of green-certified buildings, adding 78 million square feet of certified stock.

The green building materials market is expected to experience growth driven by the increasing demand for eco-friendly alternatives. Eco-friendly alternatives are products, practices, or solutions designed to have minimal environmental impact, promote sustainability, and reduce harm to ecosystems. Within the construction industry, these alternatives play a vital role, especially in the context of green building materials. According to the U.S. Green Building Council (USGBC) report, green buildings have the potential to reduce carbon emissions by 34% and consume 25% less energy compared to conventional buildings. With concerns about global warming on the rise, the demand for green building materials is escalating as sustainable and eco-friendly practices become imperative for conserving energy and protecting natural resources.

The green building materials market is witnessing a rising popularity of environment-friendly building materials. Major players in the market are focusing on introducing new product lines with low global warming potential (GWP) while maintaining high product quality. For instance, Owens Corning launched its FOAMULAR NGX product line in August 2021, incorporating extruded polystyrene (XPS) foam products with a unique blowing agent to reduce their global warming potential by 90% without compromising product quality.

Manufacturers in the green building materials market are actively developing sustainable and eco-friendly solutions for chemical paints. Eco-friendly paints are innovative products designed to have minimal or zero volatile organic chemicals (VOCs). These paints are made from organic materials such as water, plant oils, essential oils, tree resins, and natural dyes. To address environmental and health concerns, the Khadi and Village Industries Commission in January 2021 introduced Khadi Prakritik Paint, a non-toxic, eco-friendly paint with anti-fungal and anti-bacterial properties, utilizing cow excrement as a primary ingredient.

In January 2022, Builders FirstSource, a U.S.-based manufacturer and supplier of building materials, completed the acquisition of National Lumber for $440 million. This strategic move allows Builders FirstSource to expand its capabilities into New England and enhance its value-added solutions. National Lumber, a U.S.-based building materials company, offers a diverse range of green building materials, contributing to the overall growth of the market.

Major companies operating in the green building materials market report are Owens Corning, BASF SE, Kingspan Group PLC, E. I. du Pont de Nemours And Company Co. Ltd., Interface Inc., Saint-Gobain (CertainTeed Corporation), Forbo International SA, Amvik Systems, Alumasc Group PLC, Bauder Limited, China State Construction Engineering Corporation (CSCEC), China Communications Construction Company Limited (CCCC), Shanghai Construction Group (SCG), SGS Group, Larsen & Toubro, GMR Group, Hindustan Construction company, Kajima Corporation, GVK Group, Shimizu Corporation, Sika AG, Välinge Flooring, HeidelbergCement, LafargeHolcim, Aerzener Maschinenfabrik GmbH, SCHMIDT Technology GmbH, Colt International Licensing Limited, Gsky Plant Systems, Hachler GmbH, Sensor spol. s r.o, Norsonic AS, Internationale Geotextil GmbH, GreenKeys, Mastal Sp zo.o, Grudnik Sp. Z O. O., KONTUR SP. Z O.O., ATT Sp. Z. O.O., Departysh D Ltd., Macon Group, Somaco, Supertech Q Materials SRL, Iridex Group, Matcons, Turner Corp, Aecom, Clark Group, Swinerton, Hensel Phelps, Skanska USA, Lendlease, Gilbane Building Co, Battle Lake Design Group, Alberta, EDGE Colombia, Electro Aco Altona, Suzano, Votorantim Cimentos Brasil, Klabin, Cielo Brazil, TUPY, BR Metals Fundições Ltda, Middle East Building Materials LLC.

North America was the largest region in the green building materials market in 2023. Asia-Pacific was expected to be the fastest region in the forecast period. The regions covered in the green building materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the green building materials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary categories of green building materials include structural, exterior, interior, and others. The components constituting the walls, roof, foundation, stairs, associated projections, and other external sections and features collectively form the building exterior. Exterior applications of green building materials involve the use of bamboo, recycled steel, and reclaimed wood. These materials find application in framing, insulation, roofing, exterior siding, interior finishing, and various other aspects, catering to both residential and non-residential buildings.

The green building materials market research report is one of a series of new reports that provides green building materials market statistics, including green building materials industry global market size, regional shares, competitors with a green building materials market share, detailed green building materials market segments, market trends and opportunities, and any further data you may need to thrive in the green building materials industry. This green building materials market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The green building materials market consists of sales of green building materials such as bamboo, wood, and earthen materials. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.