PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498773
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498773
Green Building Materials Market size was valued at USD 423,902.09 Million in 2023, expanding at a CAGR of 13.21% from 2024 to 2032.
Green building materials are those that take care of the environment at every stage of their life. These materials were picked because they are low-impact on the environment, sustainable, and energy-efficient. They are made to minimize the loss of natural resources, lowering pollution, and foster healthier interior spaces.
Green Building Materials Market- Market Dynamics
Increasing emphasis on energy-efficient buildings and sustainability is expected to propel market demand
The demand for green materials like high-performance insulation, energy-efficient windows, and energy-efficient HVAC systems is increased by the growing emphasis on energy-efficient buildings to lower carbon emissions and running costs. Adoption of green building materials is encouraged by strict construction requirements, energy-efficiency-promoting policies, and tax credits and subsidies, among other incentives. Green building materials are becoming more and more popular because of consumer preferences for sustainable living environments and eco-friendly products.
The market is driven by growing consciousness regarding pollution, resource depletion, and climate change, which increases the need for environmentally friendly building materials. There is a growing demand for green building materials in commercial construction projects because of businesses incorporate sustainability aims into their operations. Novel, environmentally friendly construction materials with enhanced performance and less environmental effect are created owing to advancements in materials science and manufacturing technology.
Green Building Materials Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 13.21% over the forecast period (2024-2032)
Based on Application segmentation, the insulation roofing segment was predicted to show maximum market share in the year 2023, owing to its high performance in insulation of roofing with greater durability.
Based on Distribution Channel segmentation, the offline segment was the leading Distribution Channel in 2023, due to the high demand for green building materials like recycled & organic products.
Based on End User segmentation, the residential segment was the leading End User in 2023, owing to the rising focus of people on adopting green technologies.
On the basis of region, North America was the leading revenue generator in 2023, owing to high demand for eco-friendly and green products.
The Global Green Building Materials Market is segmented on the basis of Application, Distribution Channel, End User, and Region.
The market is divided into five categories based on Application: insulation roofing, framing, interior finishing, exterior siding, and others. The insulation roofing segment dominates the market. Increasing demand for insulation in green building construction is boosting the segment growth.
The market is divided into two categories based on the Distribution Channel: offline and online. The offline segment dominates the market. The increasing number of shops and retailers offering green products is generating revenues for the market.
The market is divided into three categories based on End Users: industrial, commercial, and residential. The residential segment dominates the market and is expected to maintain its high dominance during the forecast period. High demand for green buildings in the residential sector with a focus on the environment is spurring market growth.
Green Building Materials Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America is a mature market for Green Building Materials, with a strong demand from both the industrial sectors. Supportive government regulations and sustainability initiatives are impacting positively on the region's growth. Asia Pacific is projected to grow at the highest rate in the next few years.
The Green Building Materials market is less fragmented. Market players are involved in strategic activities like product innovation, development, and partnerships to expand their product portfolio and reach across the globe. Large multinational corporations have also ventured into with other companies to enhance their pre-existing proficiency in green materials research and manufacturing. In addition, companies are spending money on R&D to create organic green materials, all the while emphasizing environmental friendliness and sustainability.
In October 2022, Holcim attained Wiltshire Heavy Building Materials, which is among the leading companies delivering building resolutions and materials in the U.K.
In August 2022, Saint-Gobain acquired Kaycan, a manufacturer and distributor of exterior building materials to expand its reach across Canada and the United States.