Green Building Materials Market Size

Green Building Materials Market Size

Green Building Materials Market size exceeded USD 320.7 billion in 2023 and is poised to showcase around 12.1% CAGR from 2024 to 2032. Increasing construction activities in Asia Pacific and North America will be a major factor driving the industry growth.

The rising concern related to the adverse impact of building materials and their wastes on the environment has triggered the requirement to integrate eco-friendly materials, thus supporting the usage of green materials in construction

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The concept of sustainable building envisions and integrates different strategies during the design, production & operation of various building projects. The use of green building materials highlights one such important strategy in implementing the sustainable development of construction projects. Green building materials offer various benefits, such as reduced maintenance, energy conservation, greater design flexibility, and lower costs, which are generally associated with changing space configurations, etc.
 

Green building materials not only lower carbon emissions but are also good for the environment as the impact of these materials on the environment is minimum due to their sustainable nature. According to the U.S. Green Building Council, the number of leaderships in energy and environmental design-certified houses has risen by approximately 19% since 2017. Moreover, there are closely 500,000 single-family, multifamily & affordable housing LEED-certified houses worldwide. The rising preference toward the utilization coupled with government incentives to use them in construction will boost the green building materials market growth.
 

The COVID-19 pandemic has adversely affected the construction industry, followed by the temporary halt of construction projects globally. Furthermore, lockdown and quarantine measures to combat the COVID-19 pandemic have limited the production & supply of green building materials. Producers are resolving the challenges caused by the pandemic and are adapting to the changing industry dynamics.