Green Building Materials Market Projected to Surpass USD 1059.03 Billion by 2031 Driven By Surging demand for sustainable construction fuels exponential growth

The SNS Insider report indicates that the Green Building Materials Market is projected to reach USD 1059.03 billion by 2031, growing at a CAGR of 12.1% from 2024-2031. The market size was valued at USD 424.38 billion in 2023.

The sustainable construction revolution shows no signs of slowing down. The shift towards ‘green’ construction is gaining significant momentum as governments and individuals alike recognize the environmental and economic benefits of sustainable buildings. The construction industry has a significant impact on the environment. According to the International Energy Agency, building operations accounted for 30% of global final energy consumption and 26% of energy-related emissions in 2023. Green building materials, derived from renewable and recycled sources, offer a solution. The increasing popularity of green buildings translates directly to the rising demand for these sustainable materials.

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Some of the Key Players Included are:

• BASF
• DuPont
• Holcim
• Kingspan Group
• green building solutions
• Lhoist
• Lafarge
• Kingspan Group plc
• RedBuilt LLC
• Binderholz GmbH
• Alumasc Group Plc
• Bauder Limited
• PPG Industries
• CertainTeed Corporation
• and other

Market Analysis

The growing emphasis on green building certifications and standards further fuels market growth. These certifications demonstrate a commitment to environmentally responsible practices and can boost a building’s value.  Moreover, the rising awareness of the health benefits associated with green buildings, such as improved indoor air quality, is an additional market driver.  Consumers and businesses are increasingly choosing indoor environments constructed with materials that promote well-being.

By Application, the roofing segment stands as the largest market contributor and is expected to retain this position throughout the forecast period.  

This dominance is directly tied to the surging adoption of green roofing materials. Green roofs serve as Nature-based Solutions (NBS), addressing crucial environmental and socio-economic issues associated with climate change.

By End-User, the residential segment is projected to lead the market

The introduction of stringent energy-efficiency guidelines and building regulations plays a crucial role.  Consumer preferences are also shifting towards green buildings within the residential sector, creating demand for sustainable building materials.  This segment’s growth is further fueled by rising awareness of the environmental advantages of green materials and wider adoption of sustainable construction practices.  Additionally, government initiatives and incentives aimed at promoting eco-friendly housing contribute significantly to this growth trend.

By Product Type

Interior Product

Exterior Products

Solar Products

Building Systems

Other

By Application

• Roofing
• Framing
• Insulation
• Exterior Sliding
• Interior Finishing

By End User

• Residential Buildings
• Non-Residential Buildings

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Impact of the Russia-Ukraine War

The ongoing conflict in Ukraine has disrupted global supply chains, including those for building materials.  This disruption has led to price volatility and material shortages, creating challenges for the construction industry.  However, it has also spurred innovation as builders look for alternative, sustainable materials less affected by geopolitical events.

North America led the green building materials market in 2023.

This leadership can be attributed to several factors. The region is experiencing a surge in demand for green building materials across residential, industrial, commercial, and infrastructure sectors. Furthermore, proactive government initiatives and policies promoting sustainable construction practices have significantly accelerated market growth within North America.

Recent Developments

• January 2022: Binderholz GmbH(Austria) acquired BSW Timber Ltd., consolidating its position as Europe’s largest sawmill and solid wood processor.
• April 2021: Lafarge Egyptintroduced Ecolabel cement, underscoring its commitment to green solutions and reducing its carbon footprint.
• November 2020: Lhoist (U.K.)developed Tradical Hemcrete, a recyclable, low-energy building material derived from hemp, water, and lime.

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Key Takeaways for the Green Building Materials Market Study

• The green building materials market is poised for extraordinary growth, driven by the demand for sustainable and energy-efficient solutions.
• Consumers and businesses are increasingly recognizing the advantages of constructing and occupying spaces built with sustainability in mind.
• Rising awareness of the environmental and health benefits of green buildings is a significant market driver.
• Market innovation and technological advancements are crucial for catering to the growing demand for sustainable building materials.

 

Table of Contents – Major Key Points

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
   • COVID-19 Impact Analysis
   • Impact of Ukraine- Russia war
   • Impact of ongoing Recession
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Green Building Materials Market Segmentation, By Product Type
9. Green Building Materials Market Segmentation, By Application
10. Green Building Materials Market Segmentation, By End User
11. Regional Analysis
12. Company Profiles
13. Competitive Landscape
14. Use Case and Best Practices
15. Conclusion

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