According to a new report published by Allied Market Research, titled, “green building materials market By Product Type and Application – Global Opportunity Analysis and Industry Forecast, 2014-2022 “, the green building materials market is expected to reach $171,475 million in 2015, growing at a CAGR of 11, 9% from 2016 to 2022 to reach $377,029 million by 2022. The outdoor products segment led the market in 2015 with a third share, in terms of revenue.
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Emission reduction potential of green building materials, high value of green building assets, increased public awareness of green materials and increase in customer and market demand are the major factors driving the market for green building materials around the world. Additionally, reduction in operating costs and improved worker productivity through healthier indoor environment complement the growth of the market. A wide variety of green building materials are available on the market, including linoleum, galvalume panels and fiber cement composites. New low-rise and high-rise residential buildings, renovations of existing buildings, and new industrial buildings are the major areas where growth in green building materials is expected. DGNB, LEED, BREEAM, HQE and EnergyStar are some of the certification systems that rate the performance of green buildings. They rate buildings according to certain established standards.
Chemicals & Materials at Allied Market Research, “While cost issues, market barriers, and the absence of government policies encouraging green building are factors that hinder the growth of green building materials, continued innovation and growth in the building and construction sector provide great potential for market expansion.“
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Exterior products accounted for more than a third of the market by revenue in 2015. The use of green building exterior products in the construction industry offers energy efficiency, durability, low maintenance and reduced costs. operating costs and waste compared to traditional construction techniques. The residential buildings segment holds the largest share by application in terms of revenue and is expected to grow at a CAGR of 11.2%. Growing concerns about rising energy prices, accelerating climate change, negative health impact associated with building materials, and stormwater runoff polluting rivers and lakes have heightened the need construction of green buildings in the residential sector.
Main results of the study
Asia-Pacific is expected to continue dominating the market over the forecast period, followed by Europe.
The solar products market revenue is expected to grow with a high CAGR of 13.5% during the forecast period.
Roofing is the fastest growing segment in exterior green building products, registering a CAGR of 12.2% during the forecast period.
Brazil accounts for three-fifths of the LAMEA green building materials market in 2015.
India is growing at a faster rate in the green building materials market in Asia-Pacific, registering a CAGR of 12.7% from 2016 to 2022.
France represented 11.1% of the European market for ecological building materials in 2015.
Asia-Pacific and Europe collectively contributed more than half of the green building materials market revenue share in 2015. In the same year, Asia-Pacific dominated the market, owing to the presence healthier neighborhoods and the pressure of environmental regulations regarding harmful emissions. .
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The major market players are Alumasc Group Plc (UK), Amvik Systems (Canada), BASF SE (Germany), Bauder Limited (UK), Binderholz GmbH (Germany), EI du Pont de Nemours and Company (United States United States), Forbo International SA (Switzerland), Interface Inc. (United States), Kingspan Group plc (Ireland) and Owens Corning (United States)
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