Green Building Materials Market Size, Share, Growth Analysis, By Application(Residential, Commercial), By Distribution Channel(Online and Offline), By End User(Exterior siding, Interior Finishing) - Industry Forecast 2024-2031

Green Building Materials Market size was valued at around USD 312.5 billion in 2019 and is expected to reach a value of USD 564.7 billion by 2031, at a CAGR of 6.8% over the forecast period (2024-2031).

The market for green building materials will expand even more as a result of major market players spending heavily in R&D to expand their product lines. In addition, market participants are launching new products, entering into contracts, acquiring companies, increasing investments, and working with other organizations, among many other significant market changes, in an effort to expand their footprint. In order to expand and survive in a market that is becoming increasingly competitive and growing, competitors in the green building materials industry must offer products at an affordable price. 'Alumasc Group plc.', 'Bauder Ltd.', 'Wienerberger AG', 'Binderholz GmbH', 'Homasote Company', 'CertainTeed Corporation', 'RedBuilt LLC', 'Forbo International SA', 'PPG Industries, Inc.', 'LG Hausys Ltd.', 'Kingspan Limited', 'Lafarge Company', 'BASF SE among others', 'Sika AG', 'Holcim', 'Saint-Gobain (CertainTeed)E. I. du Pont de Nemours and Company'

The demand for green building materials has clearly increased over the last few years. Modern materials for insulation, such as cellulose, cotton, fiberglass, and mineral wool, are highly sought after in the building industry. These materials are also less hazardous and eco-friendly. There is a great demand for green buildings now because of government measures to support energy-efficient development. The residential sector makes large investments in energy-efficient and eco-friendly structures. This government program is a crucial market stimulant.

Government laws that promote energy-efficient buildings have led to a huge demand for green buildings. Buildings that are energy-efficient and consume less energy are highly valued in the residential market. This government endeavor serves as a key market stimulant. People are encouraged to buy a building with water- and energy-saving measures. Both the environment and the buyer profit from it. Additionally, there is a lot of public awareness about green buildings today. By leading an eco-friendly lifestyle, many people attempt to lessen pollution. Clean air, renewable energy, and natural sunlight are all provided to residents in green buildings. Furthermore, utilizing green buildings has several health advantages. The rising consumer spending on real estate also enables consumers to choose environmentally friendly green structures. The green building is stunning, with a variety of interior designs and constructing techniques.

The market is anticipated to be dominated by North America. There is a considerable need for environmentally friendly and energy-efficient building materials in the region due to its well-established construction sector. The market in North America is expanding as a result of the region's presence of numerous important players and the rising adoption of green building standards and codes like LEED and Energy Star. The region's green building materials market is expanding as a result of government policies and laws encouraging their usage, as well as rising public awareness of their advantages for the environment and human health. Additionally, the North American market in the U.S. had the biggest market share, while the market in Canada had the fastest rate of growth.