Though, cost concerns, market barriers and lack of government policies encouraging green construction are some factors, which hinder the growth of green building materials, continuous innovation and rise in growth of building and construction sector provides a great potential for market expansion.
Portland, OR -- (SBWIRE) -- 02/08/2018 -- In green building materials market, the materials used are recyclable products, which enhance the production environment and quality of life. These materials promote conservation of non-renewable resources and reduce environmental impact associated with fabrication, processing, installation, transportation, disposal, and recycling of building materials. Green building materials are employed in construction industry to address various environment challenges including anomalous climate change, natural resource depletion, atmospheric pollution, contamination of fresh water resources, and loss of biodiversity. Eco-friendly nature, durability, and energy efficiency of green building materials make them ideal for use in designing of residential and non-residential buildings.
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Emission reduction potential of green building materials, high asset value of green buildings, growth in public awareness regarding green materials, and increase in client & market demand are the major factors that drive the green building materials market across the globe. In addition, reduction in operating costs and enhanced worker productivity due to healthier indoor environment supplements the market growth. A wide variety of green building materials are available in the market including linoleum, galvalume panels, and fiber-cement composites. New low-rise and high residential buildings, retrofits of existing buildings, and new industrial buildings are the major areas where growth of green building materials is expected. DGNB, LEED, BREEAM, HQE, and EnergyStar are some of the certification systems that evaluate performance of the green buildings. They rate the buildings according to some set standards.
Exterior products accounted for more than one-third of the market in terms of revenue in 2015. Employment of green building exterior products in construction industry offers energy efficiency, durability, low maintenance, and operation cost and waste reduction over traditional construction techniques. Residential buildings segment holds the largest share by application in terms of revenue and is expected to grow at a CAGR of 11.2%. Increase in concerns regarding rise in energy prices, accelerating climate change, negative health impact associated with building materials, and stormwater runoff polluting rivers and lakes have reinforced the need for green building construction in the residential sector.
Key findings of the Green Building Materials Market:
Asia-Pacific is expected to continue to lead the market during the forecast period followed by Europe.
Solar products market revenue is projected to grow with a high CAGR of 13.5% during the forecast period.
Roofing is the fastest growing segment in green building exterior products registering a CAGR of 12.2% during the forecast period.
Brazil accounts for three-fifths share in LAMEA green building materials market in 2015.
India grows at a faster rate in Asia-Pacific green building materials market, registering a CAGR of 12.7% from 2016 to 2022.
France accounts for 11.1% share in Europe green building materials market in 2015.
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Asia-Pacific and Europe collectively contributed more than half of the share to the global green building materials market revenue in 2015. In the same year, Asia-Pacific dominated the market, owing to the presence of healthier neighborhoods and pressure of environmental regulations pertaining harmful emissions.
The prominent market players are Alumasc Group Plc (UK), Amvik Systems (Canada), BASF SE (Germany), Bauder Limited (UK), Binderholz GmbH (Germany), E. I. du Pont de Nemours and Company (U.S.), Forbo International SA (Switzerland), Interface Inc. (U.S.), Kingspan Group plc (Ireland), and Owens Corning (U.S.).