Green Building Materials Market set to Boom

A green building is a structure that is designed, constructed, renovated, operated, refurbished or reused in an ecological and resource-efficient manner. In other words, green buildings are the structures specially designed and built to meet certain objectives such as using energy, water, fuels and other resources more efficiently and protecting occupant health; improving employee productivity and reducing the overall impact to the environment.

Environmental concerns and focus on sustainable infrastructure drives the development of green building constructions in both residential and non-residential sector. The penetration of green buildings in the residential sector is lower as compared to the non-residential due to less awareness about the benefits of green building and high cost of green building materials.

Factors such as rising awareness about emission reduction potential of green building materials from end-user industries such as building and construction and increasing demand for efficient energy is also propelling this market growth. The Increasing energy costs and elevation of the green building standards is estimated to be the key driving factor for market growth over the future years. Environmentally sustainable and energy-efficient buildings are one of the main factors which fuel the growth green building materials. High environmental concerns are expected to positively impact the demand for green building materials. The major countries have re-modeled their regulations so as to promote the usage of green building materials in construction sector. Highly price-sensitive market and uneven enforcement of energy regulations may hamper the growth of the market.

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Green building materials market is segmented on the basis of product type, application, end user, and geography. Based on product type, the market is categorized into interior products, exterior products, solar products, and others. Others include structural products and permeable pavement. According to application, the green building materials market is classified into Insulation, Framing, Roofing, Interior Finishing, Exterior Siding and Others. Furtheron the basis of end user the market is segregated as Healthcare centers, R&D centers, Education, Public facilities, Residential, and Others. Non-residential segment includes commercial & office, institutional, industrial, hospitality, and leisure. Geographic segments includes North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.

On the basis of applications, the market is segmented into Insulation, Framing, Roofing, Interior Finishing, Exterior Sidings. where Insulation is estimated to be the largest application segment, which is expected to create high demand, owing high levels of energy conservation. Growing construction activities in the commercial and residential sectors are expected to propel the growth of this segment.

Roofing emerged as the second largest application, followed by framing. growing acceptance of non-toxic recycled rubber roofing and sheets owing to its superior durability and weather-resistance is expected to drive the demand for such products in roofing materials and application. The North American market comes across as the chief regional market due to the positive guidelines and building ethics promoting the usage of green building materials in the construction industry and renovation activities. The rigid government regulations fueling the usage of environment friendly materials to reduce environment pollution are projected to drive green materials market growth in the region. Infrastructure development, particularly in Canada and United States, is expected to have a positive impact on the growth of green building market. . Canada is among the leading markets for global green building materials in North America region. Canada has achieved a significant milestone in Green buildings and material development, by covering more than one billion square feet of Leadership in Energy and Environmental Design (LEED) projects. Furthermore, with the government policies focused toward Net Zero Homes and numerous initiatives taken up to drive the nation towards low-carbon emission and footprint, increased activity in the green building construction industry are driving the demand for green building materials in the region over the forecast period. However, the Asia-pacific market is anticipated to grow at a high rate due to high demand from end user industry. The Innovation of advanced technologies and increase in R&D activities are expected to propel regional market growth.

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The major players in the global green building materials market include Alumasc Group PLC, Amvik Systems, BASF SE, Bauder Limited, Binderholz GmbH, E. I. du Pont de Nemours and Company, Forbo International SA, Interface Inc., Kingspan Group PLC, and Owens Corning.

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