Green building materials are substances used to bring about sustainability of green buildings from design of the structure to demolition. These materials are the preferred choice owing to their energy efficiency. For these reasons, the demand for green building materials has increased significantly in recent years. The aim of green buildings is to develop ecologically sustainable and efficient structures that don’t significantly harm the environment. Some green building materials used for construction are fiberglass, cellulose, cotton, and mineral wool; these are known to be eco-friendly, less toxic than conventional materials, and have insulating properties that help reduce energy consumption within the structure.
Increasing Health Awareness to Drive the Demand for Green Building Materials
The green building materials market is driven by growing government initiatives for green buildings that are good for human health and consequently growing demand from the construction industry. The green building materials market was valued at US$106.32 billion in 2012 and is anticipated to reach US$234.77 billion by 2019, growing at a CAGR of 12.5% in the period.
The global green building materials market is segmented by three perspectives, namely application, end user, and geography. Based on application, the green building materials market is classified into interior finishing, framing, roofing, exterior siding, insulation, and others. The insulation application segment held a 21% share of the global green building materials market in 2012. The growing demand for fiberglass, cellulose, mineral wool, and cotton is anticipated to drive this segment of the market.
The growing demand for eco-friendly substances from green roof manufacturers is anticipated to drive the roofing application segment in coming years. The interior finishing application segment is expected to be driven by rising demand for glue and paints that are free of volatile organic compounds (VOCs) and carpet tiles that constitute recycled material. The framing application segment of the green building materials market is expected to be driven by demand for nonconventional materials such as engineered lumber, steel constituted with recycled material, autoclaved aerated concrete, and structural insulated panels.
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Residential and Commercial Expansion to Drive Green Building Materials Market in Asia Pacific
By end-use industry, the green building materials market is segmented into healthcare, R&D centers, public facilities, industrial and commercial, education, and residential. In the end use segmentation, public facilities accounted for the largest market share due to growing regulation supporting green buildings.
The growing urbanization in Asia Pacific and Rest of the World (RoW) has led to the expansion of public facilities and hence contributed to the growth of this end use segment. Additionally, industrial expansion and growing number of R&D centers will propel the regional markets for green building materials.
Geographically, the green building materials market is segregated into North America, Asia Pacific, Europe, and Rest of the World (RoW). North America leads the green building materials market globally, accounting for 40% of total consumption. Europe adheres to strict regulations pertaining to green technology and hence implements green technology for renovation and retrofitting projects. Europe accounted for 32% of the green building materials market in 2012 and is anticipated to grow further in coming years. The Asia Pacific and RoW regional markets are anticipated to experience increased demand for green materials owing to government initiatives and unfavorable climatic conditions. These regions are expected to be the most attractive for green building materials in the coming years.
Some of the major players listed in the green building materials market are E.l. du Pont de Nemours Company, Certain Teed Corporation, BASF SE, Owens Corning, Kingspan Group plc., Alumasc Group Plc, Binderholz Gmbh, Redbuilt LLC, Forbo International SA, Amvik Systems, Reward Wall Systems, and Structurlam Products Ltd.
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