Despite pandemic-related setbacks in the construction industry, multiple factors are creating expanding opportunities for green building materials.
Green building materials are defined as those that are non-toxic, improve occupancy health, lower cost, and conserve energy. A green building’s operating costs are typically lower than a traditional building, with 63% less water usage and 53% less electricity usage. The green building materials market was estimated at $199.9 billion in 2020, according to a report by Mordor Intelligence, and is projected to register a CAGR of over 9% from 2021-2026.
According to a 2019 report by the U.S. Green Building Council, the number of Leadership in Energy and Environmental Design (LEED)-certified homes has grown 19% since 2017. The current level represents an all-time high, with nearly 500,000 single-family, multi-family, and affordable housing LEED-certified units globally. More than 400,000 of these units are located in the U.S.