Green Building Materials Market Trends Transforming Construction 2032

According to Fortune Business Insights, The global green building materials market size was valued at USD 422.27 billion in 2023 and is projected to grow from USD 474.21 billion in 2024 to USD 1,199.52 billion by 2032, exhibiting a CAGR of 12.3% during the forecast period. North America dominated the green building materials market with a market share of 32.05% in 2023. An environment-friendly building structure is made from green building materials. Straw, hempcrete, wood, bamboo, bales, recycled plastic, and ferrock are some of these materials. They are used to create structures that are low-energy and support the ecological balance of the environment. Fortune Business Insights presents this information in their report titled "Green Building Materials Market, 2024–2032."

List of Key Players Profiled in the Report

• BASF SE (Germany)

• PPG Industries, Inc. (U.S.)

• I. du Pont de Nemours and Company (U.S.)

• Sika AG (Switzerland)

• Forbo International SA (Switzerland)

• Owens Corning (U.S.)

• REDBUILT (U.S.)

• CERTAINTEED (U.S.)

• HOLCIM (Switzerland)

• Kingspan Group (Ireland)

Segments:

Roofing Segment to Grow Due to its Growing Product Usage in Construction

Based on application, the market is segmented into roofing, flooring, insulation, and others.

Due to the growing popularity of green roofing materials, it is predicted that the roofing segment will continue to be the largest over the projection period. As Nature-based Solutions (NBS) address a number of environmental and socioeconomic issues brought on by climate change, green roofs are becoming more and more important. Given that urban areas already house 55% of the world's population and are expected to grow by as much as 68% by 2050, urban areas are garnering attention in terms of global development. Suburbs, cities, and towns are all part of urban settlements. Urban growth is necessary for urban settlements to flourish sustainably. The New Urban Agenda and the Sustainable Development Goals for 2030 promote cities' commitment to sustainability.

High Preference for Green Buildings will Dominate the Residential Segment

Based on end-use industry, the market is segmented into residential and non-residential.

Due to increase in regulations and rules requiring energy-efficient buildings, the residential segment is anticipated to dominate during the projection period. In the residential sector, green buildings are becoming more popular. Building materials that are both eco-friendly and energy-efficient are now in demand. The main factors driving the market expansion of this category are the growing awareness of the environmental advantages of sustainable building materials and the expanding use of sustainable building methods in the residential sector. Additionally, government regulations and initiatives to encourage the use of eco-friendly building materials in the residential sector, as well as the rising demand for energy-efficient and environment-friendly homes, are likely to propel the green building materials market growth.

Report Coverage:

The report offers: 

• Major growth drivers, restraining factors, opportunities, and potential challenges for the market. 

• Comprehensive insights into the regional developments. 

• List of major industry players. 

• Key strategies adopted by the market players. 

• Latest industry developments include product launches, partnerships, mergers, and acquisitions.

Drivers & Restraints:

Increasing Demand for Green Materials Buildings will Propel Market

Wood, straw hemp concrete, recycled plastic, ferrock, straw bales, bamboo rammed earth, wood concrete, and grass concrete are examples of green building materials. The purpose of using these materials is to build structures that are energy-efficient and support the ecological balance of the environment. During construction, design, repair, and maintenance, these materials increase a building's sustainability and efficiency. These materials are made from renewable waste sources and are particularly energy-efficient. Environmental issues including freshwater resource contamination, air pollution, resource depletion, biodiversity loss, and atypical climate change can all be resolved by using environment-friendly building materials. Green building materials are ideal replacements for conventional construction materials, and due to these benefits, the green building materials market share will increase in the coming years.

On the contrary, high demand, fluctuation in price of materials, and declining per capita income in some countries are few factors which may impede the market growth.

Regional Insights

North America Dominates the Market due to High Demand for Infrastructure Applications

Due to its rising demand for roofing, insulation, framing, and numerous other residential, industrial, commercial, and infrastructure applications, North America held the biggest market share in 2022. There is expanding need for buildings that are both energy and value-efficient and reduce their negative effects on the environment. Reduced energy expenses are economic advantages of green buildings. Increased government initiatives have accelerated the market's expansion.

Get a Full Information of Report: https://www.fortunebusinessinsights.com/green-building-materials-market-102932

Competitive Landscape

Businesses Use Strategic Planning to Expand their Market Share

Market players face severe competition from national and regional firms that have vast supply chains, regulatory expertise, and suppliers. In order to grow their present markets, businesses also enter into agreements, make purchases, and form strategic alliances with other industry leaders.

Key Industry Development:

• January 2022: Binderholz GmbH, a subsidiary of the Austrian Binderholz Group, acquired BSW Timber Ltd. The company manufactures more than 1.2 million m3 of sawn timber annually. With this acquisition, Binderholz GmbH became Europe's largest sawmill and solid wood processor.

• April 2021: Lafarge Egypt, a member of LafargeHolcim, introduced Ecolabel cement for the first time in Egypt. This new product meets the company's green criteria and reduces the carbon footprint.