According to a new report published by Allied Market Research, titled, "Green Building Materials Market by Product Type and by Application - Global Opportunity Analysis and Industry Forecast, 2014-2022" the global green building materials market is expected to be $171,475 million in 2015, growing at a CAGR of 11.9% from 2016 to 2022 to reach $377,029 million by 2022. The exterior products segment dominated the market in 2015 with one-third share, in terms of revenue.
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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.
According
to Eswara Prasad, Team Lead, Chemicals & Materials at Allied Market
Research, "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."
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.
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Key findings of the study
·
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.
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.).
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accuracy in our market forecasting. Each and every data presented in the
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procurement methodology includes deep online and offline research and
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