Green building materials market to show strong growth

The global green building materials market will increase from US$184.1 billion in 2023 to $347.7 billion in 2028, representing a 13.6% compound annual growth rate (CAGR), says a report from ResearchandMarkets.com. 

The total Leadership in Energy and Environmental Design (LEED)-certified building area in 2022 was approximately 11 billion square feet. This was only 4.5% of the entire building area, which was 242 billion square feet. Therefore, green buildings currently comprise a small share of the global construction market, but the investment opportunities in the this sector are enormous. 

The residential sector will dominate the market in emerging countries due to increasing population growth and rapid urbanization. The commercial sector will dominate in developed regions such as the U.S. and Europe. Insulation will be the most prominent application sector, especially in the Americas and the Europe.