The worldwide green building materials market should nearly double over the next five years, reaching $523.7 billion by 2027, according to recent analysis by Future Market Insights, Inc. The climb would represent 11.06% annual growth from 2021’s $280.5 billion—a rate expected to continue through 2032.

Insulation is forecast to be the fastest-growing application, rising at a pace of 11.7% over the period due to its excellent energy efficiency and increased emphasis on installing interior insulation solutions.

North America owns a significant green building material market share, with growth substantially driven by strict rules on the use of environmentally friendly products in the construction sector.

Exposed to extreme climate conditions and government initiatives, the Asia Pacific and Latin America are also seeing increased demand for green building materials.