North America Green Building Materials Market Outlook, 2029

North America Green Building Materials Market Outlook, 2029

The market for green building materials in North America is a vibrant industry that is always expanding and innovating due to growing consumer demand for sustainable construction solutions, government requirements, and environmental concerns. Over the past ten years, there has been a steady growth in the market for green building materials in North America. The industry has grown tremendously due to increased awareness of environmental issues and a trend towards sustainable building techniques. North America's need for green construction materials is driven by a number of causes, such as stricter environmental laws, escalating energy prices, an increasing emphasis on energy efficiency, and heightened public awareness of climate change. Building materials that are environmentally friendly are becoming more and more important to consumers, developers, and governments. The market for green construction materials is fuelled by innovation. New materials and technologies that provide better performance, durability, and environmental sustainability are continuously being developed by manufacturers. Energy-efficient windows, low-emission paints and varnishes, environmentally friendly insulating materials, and sustainable flooring options are some of these developments. The uptake of green building materials in North America has been greatly aided by the LEED (Leadership in Energy and Environmental Design) certification program. The need for sustainable building materials will rise as a result of the strict requirements that projects aiming to get LEED certification must fulfil regarding indoor air quality, water conservation, energy efficiency, and material selection.

According to the research report ""North America Green Building Material Market Outlook, 2029,"" published by Bonafide Research, the North America Green Building Material Market was valued more than USD 110 Billion in 2023. To encourage sustainable building techniques, North American federal, state, and local governments have put in place a number of laws, building rules, and standards. The use of renewable energy sources, energy-efficient designs, and environmentally friendly building materials in new construction and remodelling projects is frequently encouraged or required by these regulations. Novel green building materials with enhanced performance, durability, and environmental sustainability have been developed as a result of developments in materials science, engineering, and manufacturing. Technological advancements give designers and builders more options, including bio-based composites, recyclable materials, and energy-efficient coatings. In North America, there is a growing demand from consumers, corporations, and institutions for sustainable and eco-friendly products. Green building materials meet customer demands for healthier and more environmentally friendly living spaces by providing advantages such better indoor air quality, increased occupant comfort, and decreased environmental impact. Because of their sustainable nature, green building materials have a minimal negative environmental impact, which helps the environment and reduces carbon emissions. Due to their reduced environmental effect during installation, transportation, production, processing, disposal, and recycling, green building materials are becoming more and more common in a variety of construction projects.

Major Drivers

The growing need for construction and building in emerging countries: The population of the developing nations of North America is increasing. Additionally, they are seeing a rise in the population's personal disposable income, which enables them to spend more on consumption, savings, and investments. The increasing urbanization of the world is contributing to the growing desire for higher standards of living. The growing population, rising per capita income, and quick urbanization are all contributing factors to the increased demand for housing. Additionally, the government is spending more on infrastructure to build ports, airports, bridges, roads, and affordable housing for the populace as well as to support the development and growth of the country's economy. In order to balance environmental conservation, the expanding building and construction industry needs to be sustainable and environmentally friendly. Concerns about climate change are becoming more and more pressing, which has accelerated the transition of all economic sectors to more sustainable practices, goods, and systems. Thus, the growing need for construction and building in emerging countries is expected to support the expansion of the global market for green building materials.

Endorsing governmental initiatives :< /b> Government initiatives, which include a range of laws, regulations, incentives, and programs aimed at encouraging sustainability and decreasing environmental impact in the construction industry, significantly contribute to the growth of the green building materials market in North America. The usage of green products and building materials in public construction projects is given priority by government agencies when implementing procurement procedures. Green building materials will become more in demand as a result of these policies, which may mandate that products and materials used in government-funded projects meet environmental certifications, sustainability standards, and performance requirements. To promote the use of environmentally friendly building materials and sustainable construction methods, governments provide grants, tax credits, rebates, and other financial incentives. Green building tax credits, energy efficiency incentives, renewable energy incentives, and financing schemes for research, development, and demonstration projects are a few examples of these incentives.

Major Challenges

The cost of green building materials is high : Long-term cost savings are achieved by users that use green materials. This advantage is, however, outweighed by the large upfront costs associated with using green building materials in construction projects or other infrastructure improvements. The cost of producing non-green construction materials is substantially cheaper. In the global building business, these materials are tried and trusted. People are encouraged to use these products since they are more aware of them and knowledgeable about them. Consequently, the high cost of green construction materials will impede the market's expansion.

Restricted Accessibility and Availability:< /b> In some parts of North America, it could be difficult to find some green building materials. It may be challenging for builders and developers to obtain green products from suppliers who don't always carry a large assortment of them, especially in smaller markets or rural locations.Distributors, producers, and suppliers with specialist knowledge of sustainable products are frequently needed for green building materials. But compared to traditional building material providers, these suppliers might be less numerous and harder to reach, which would make it more difficult for customers to locate and obtain green goods.

Based on by Type the market can be categorized by Structural, Exterior, Interior, Others.

In the market for green building materials in North America, the structural segment is becoming more significant. Environmental sustainability and the necessity of lessening the impact of construction operations on the environment are topics of increasing public awareness. The structural segment provides sustainable substitutes for traditional building materials like concrete and traditional lumber. These substitutes include wood, engineered wood products, and recycled steel. These materials lessen the negative effects of construction on the environment, energy use, and carbon emissions. Building resilience and adaptation to risks associated with climate change, such as extreme weather events, rising temperatures, and sea level rise, is a growing priority of the structural segment.

Based on By End Users the market can be categorized by Residential, Non Residential.

The increasing number of building codes and guidelines for energy-efficient construction is predicted to propel the residential segment to its dominance during the forecast period. In the residential sector, green buildings are becoming more and more popular. Building materials that are environmentally friendly and energy-efficient are now in demand. The primary drivers of this segment's market growth are the growing acceptance of sustainable building methods in the residential sector and the growing awareness of the environmental advantages of sustainable building materials. Green building materials market expansion is also anticipated to be fuelled by the rising demand for eco-friendly and energy-efficient homes as well as by government policies and programs that encourage the use of eco-friendly building materials in residential construction. Due to the growing demand for sustainable and eco-friendly solutions, the non-residential category is expected to rise significantly over the forecast period. Furthermore, in order to maximize the limited resources of our world, non-residential building enterprises must now give top priority to sustainable design and construction methods.

Based on by Application the market can be categorized by Roofing, Insulation, Framing, Flooring, Interior, and Other Applications.

In North America, the roofing market is becoming more and more significant. An important factor in a building's energy efficiency is its roofing. Cool roofs and green roofs are examples of green roofing materials that assist minimize heat transfer, reduce heat absorption, and save cooling expenses in the summer. Building owners and operators are placing an increasing emphasis on energy efficiency, which is driving up demand for roofing materials that enhance indoor comfort and save energy. The urban heat island effect, which causes built-up areas to suffer greater temperatures than surrounding rural areas, is a problem for urban areas in North America. Cool roofs and green roofs are examples of green roofing materials that can lessen heat absorption, lower surface temperatures, and enhance urban microclimates.

In the US, the market for green building materials is substantial and still growing. Using green building materials can help reduce energy, water, and greenhouse gas emissions. As more individuals and businesses become aware of the impact their decisions have on the environment, green building materials are gaining popularity. In addition to other incentives, the US government offers tax credits and subsidies to promote the use of ecologically friendly building materials. Moreover, certain states and municipalities have put regulations into place requiring the use of green building materials in particular types of construction projects. The need for industrial and commercial space is being fuelled by Canada's recent and substantial economic boom. Due to FDI brought in by the government's emphasis on industrialization and modernization, demand for green buildings has increased. ""Green building"" refers to the use of minimal resources and consideration for the environment in all facets of building design, construction, operation, and maintenance. The objectives of green construction are to reduce a building's detrimental effects on the environment and human health while increasing its positive effects. These effects include energy efficiency, water conservation, indoor air quality, and general sustainability. Climate change and resource depletion are two environmental issues that Canadians are becoming increasingly aware of. Over time, the Mexican market for green building materials has grown gradually. Instigated by ecological and cultural considerations, Mexico has an extensive past embracing sustainable building techniques. In traditional Mexican construction, locally produced materials such as rammed earth and adobe were often employed to provide natural insulation and thermal comfort. Towards the end of the 20th century and the beginning of the 21st, the Mexican government began implementing regulations and rules aimed at promoting sustainable construction methods. Green mortgages and sustainable housing initiatives, for example, promoted the use of energy-saving technologies and ecologically friendly building materials in residential construction.

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 global 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. For instance, in October 2022, A significant provider of building solutions and material circularity in the UK, Wiltshire Heavy Building Materials was acquired by Holcim. The green building materials market in the United Kingdom will benefit from Holcim's increased market position thanks to this acquisition. in August 2022, A manufacturer and distributor of external building materials in Canada and the US, Kaycan, was purchased by Saint-Gobain. With this acquisition, Saint-Gobain increased its market dominance in light and sustainable building, taking over as the dominant siding provider in Canada and broadening its vinyl product line across the United States with complementing solutions in aluminum and engineered wood.

Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Green Building Materials market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Type
• Structural
• Exterior
• Interior
• Others

By End Users
• Residential
• Non-Residential

By Applications
• Roofing
• Insulation
• Framing
• Flooring
• Interior
• Other Applications

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Green Building Material industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.***Please Note: It will take 48 hours (2 Business days) for delivery of the report upon order confirmation.