Market Size of Green Building Materials Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 272.05 Billion |
| Market Size (2029) | USD 432.79 Billion |
| CAGR (2024 - 2029) | 9.73 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Green Building Materials Market Analysis
The Green Building Materials Market size is estimated at USD 272.05 billion in 2024, and is expected to reach USD 432.79 billion by 2029, growing at a CAGR of 9.73% during the forecast period (2024-2029).
The outbreak of COVID-19 in 2020 and the first half of 2021 significantly affected the global construction sector due to government-imposed bans and restrictions, thereby limiting the growth of the green building materials market. Residential real estate was the worst hit as strict lockdown measures across major cities resulted in the suspension of home registrations and slow disbursements of home loans. However, the sector has been recovering well since these restrictions were lifted. An increase in house sales, new project launches, and an increasing demand for new offices and commercial spaces have been leading the market recovery over the last two years.
- Over the medium term, the potential application of green building materials in energy-efficient buildings is the major driving factor driving the growth of the market studied. Furthermore, there are favorable government policies that support green building construction and ensure standard practices across all construction sectors. These policies are prompting the manufacturers of construction materials to include more green material compositions/systems in their products.
- On the flip side, the high first capital investments for green building construction when compared to conventional buildings is the key factor anticipated to restrain the growth of the market studied over the forecast period.
- Nevertheless, the increasing focus of various economies on achieving carbon neutrality, the declining operation costs of green buildings over time, and the growing trends in recycled construction are likely to create lucrative growth opportunities for the global market soon.
- North America is expected to dominate the market during the forecast period. This dominance is attributed to the high demand for framing, roofing, insulation, and various other applications in the residential, commercial, industrial, and infrastructure sectors.
