Green Building Materials Market Growth Analysis | 2023-2028

Market Insights

The green building materials market was estimated at USD 269.51 billion in 2022 and is likely to grow at a CAGR of 9.85% during 2023-2028 to reach USD 480.84 billion in 2028.

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Market Dynamics

Introduction

Green building materials are made of renewable sources, which can be recycled or reused rather than nonrenewable resources. They are environmentally friendly materials. Majorly used materials are earthen material, engineered wood, bamboo, insulated concrete forms, and many more.

Market Drivers

The growth of green building material is driven mainly by the factors such as rising awareness towards the environment, rising awareness towards health, and the government's support by means of incentives.

• Growing awareness towards the environment: The growth is driven by the rising awareness towards the environment. The World Green Building Council states that construction accounts for 36% of the world's energy consumption and 39% of global CO2 emissions. Green buildings can cut down consumption of energy by 20-30% and water usage by 30-50%. Green buildings have lower CO2 emissions compared with traditional structures.
• Incentives by government: Many governments also provide incentives for green building materials to promote them. Countries like the US, Germany, Australia, India, etc. provide incentives for green buildings.
• Growing awareness about health: Increasing awareness about the health and well-being of sustainable building practices combined with ongoing technological growth in intelligent building technologies is expected to lead towards the growth of this market. According to research by the US Green Building Council, people spend about 90% of our time indoors, and green buildings promote good indoor air quality.

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Challenges

• Higher costs: The increased cost of green building materials is one of the main issues hindering the adoption of green buildings. Utilization of the advanced machinery and materials that are more expensive in comparison to the traditional building materials may result in heavy up-front costs. For instance, solar panels, energy-efficient windows, rainwater harvesting systems, etc. may uplift the costs.
• Construction process complexity: Green buildings need more complex designs as compared to traditional buildings for maximizing the natural light and energy efficiency.
• Lack of skilled manpower: For the construction of green buildings, specialized skills and knowledge about the materials and techniques is required, which may not be available in the local labor market. Nowadays, the local laborers struggle to stay up to date with the rapidly evolving technology and innovative construction methods.

Segment Analysis

By End-User Industry Type

The market is segmented as residential, commercial, institutional, and others. The residential segment is expected to remain dominant as well as the fastest-growing segment of the market during the forecast period owing to the increasing per capita income of developing countries and the shift from conventional buildings to energy-efficient buildings. Additionally, increasing awareness among the public regarding the usage of environmentally friendly materials for building homes has boosted the demand for green building materials in the segment.

Regional Insights

North America is estimated to be the largest market during the next five years, with the USA, Canada, and Mexico being the major countries offering promising. The growth of the market is owing the, per-capita income of countries, the extensive growth of construction in the region, and the presence of a large number of green building material manufacturers in the region. The green building materials market is mainly driven by the increase in population and a rise in the construction of residential and non-residential buildings.

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Key Players

Some of the major green building material manufacturers are:

• BASF SE
• Binderholz GmbH
• Black Mountain Insulation Limited
• CERTAINTEED
• Chengdu Onekin Green Building Materials Co. Ltd
• DuPont
• ElementalGreen
• Interface Inc
• IsoHemp
• Kingspan Group

Note: The above list does not necessarily include all the top players in the market.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s green building materials market realities and future market possibilities for the forecast period of 2023 to 2028. After a continuous interest in our green building materials market report from the industry stakeholders, we have tried to further accentuate our research scope to the green building materials market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The green building materials market is segmented into the following categories:

By Material Type

• Structural
• Exterior
• Interior
• Others

By Application Type

• Framing
• Insulation
• Roofing
• Exterior Siding
• Interior Finishing
• Others

By End-User Industry Type

• Residential
• Commercial
• Institutional
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the material types by end-use industry type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.