The invention discloses a coating material for building walls. The coating material is characterized by containing the following substances in parts by weight: 9-15 parts of yellow starch gum, 2-5 parts of aluminum silicate, 2-8 parts of carbide, 3-5 parts of coral tree wood sawdust, 2-6 parts of ginkgo wood sawdust, 30-45 parts of redispersible latex powder, 10-15 parts of POE, 1-3 parts of nano organic montmorillonite, 7-11 parts of filling master batch, 3-15 parts of polypropylene ester, 9-16 parts of modified polypropylene, 3-15 parts of poly-4-methyl-1-pentene, 8-16 parts of active calcium, 30-50 parts of cement, 3-16 parts of thickener, 1-2 parts of mildew preventive, 1-2 parts of foamer and 3-6 parts of porous-closed beads. The coating material has the beneficial effects that the coating material is adiabatic and fireproof and is resistant to high temperature, resistant to ageing and low in water absorption; a construction method is simple and fast and comprises plastering work only, and the heat insulation and heat preservation effects are good, so that the coating material can be extensively applied to heat insulating layers of other any buildings, such as wall faces and roofs.