Green Building Materials Market

The global green building materials market size was valued USD 199.6 billion and is anticipated to expand at a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rising need for stumbling block.

Green building materials, also known as eco-friendly materials, are building construction  materials that have less impact on the environment. They are composed of renewable resources rather than non-renewable resources. The building material are not impacted by heat, cold, or humidity. Most of green building materials are recyclable.

The spread of COVID-19 pandemic negatively the impacted Covid-1 owing to lockdown, which in turn, impacted the real estate development activities. However, the relaxation in restriction, resumed the construction activities. This factor is anticipated to positively influence the market growth. 

Market Trends Drivers, Restraints and Opportunities

• Increasing demand for energy-efficient buildings, insulation solutions,  and favourable government policies for green buildings are key factors driving the market growth.
• Rising urbanization and growing environmental concerns are expected to propel the growth of the market.
• High cost of green building materials can restrain the growth of the market.
• Lack of awareness about green building materials in low- and middle-income countries can hamper the market growth in the projected timeline.
• Rising trend of sustainability and ingoing innovation in the real estate industry are major factors that can create lucrative opportunities during the forecast period.

Scope of the Report

The report on the global green building materials market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Green Building Materials Market Segment Insights

Structural segment is expected to grow at a rapid pace

On the basis of types, the materials market is segregated into exterior, interior, structural, and others. The structural segment is anticipated to grow at a rapid pace during the forecast period. Increasing demand for precast concrete slabs and recycled steel is driving the growth of the market segment. On the other hand, the interior segment is expected to hold a considerable market share in the coming years.

Insulation segment is projected to hold a significant market share

Based on applications, the market is divided into framing, insulation, roofing, exterior siding, interior finishing, and others. The insulation segment is estimated to account for a significant market share during the forecast period. Increasing demand for eco-friendly insulative materials to reduce the impact on the environment is driving the market growth.

Residential segment to account a major market share

In terms of end-users , the market is segmented into residential, commercial, institutional, and other end-user industries. The residential segment to constitute a large market share during the forecast period. Stringent building regulations and  policies mandating energy- efficient structures is a major driver of the market segment growth. Moreover, growing awareness of green building materials among home buyers and increasing use of green building materials in high-rise building are spurring the market growth.

North America to constitute a significant market share

On the basis of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is projected to account for a key market share owing to early of latest technologies for the development of green building materials. However, the market in Asia Pacific is anticipated to exhibit a high CAGR during the forecast period due to rapid growth of the construction industry in countries such as India and China.

Segments

Types

• Exterior
• Interior
• Structural
• Others

Applications

• Framing
• Insulation
• Roofing
• Exterior Siding
• Interior Finishing
• Other Applications

End-users

• Residential
• Commercial
• Institutional
• Others

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• BASF SE
• Dupont
• Sikaag
• Owens Corning
• Kingspan Group

Competitive Landscape

Key players competing in the global green building materials market are Basf Se; Dupont; Kingspan Group; Sikaag; and Owens Corning.

Companies are focusing on partnering with local manufacturers and collaborating with other industry players to leverage their market position.

In August 2020, Owens Corning announced launch of product line called FOAMULAR NGX (Next Generation Extruded).

In July 2020, Nexii Building Solutions, a Canada-based green construction technology Company, announced a trio of building construction in North America.