The green
buildings material market is projected to achieve market value of USD 364
billion by 2022. Lower operating costs and maintenance required for these
materials is expected to spur market demand over the forecast period (2015 -
2022). Additionally, energy consciousness and awareness of these materials by
consumers will prove beneficial to the market.
Regulations aimed at favouring green building materials in construction as
well as the rising growth of the construction industry will positively impact
the market. Raw materials needed to manufacture are available at a low cost,
lowering the operation cost in the process. Government initiatives like ENERGY
STAR in the US provide incentives to consumers who employ green materials. This
trend to reduce energy consumption is expected to promote market growth.
Exterior materials were worth over USD 19 billion in 2014. This can be
attributed to aesthetics and superior durability associated with exterior
materials. Wood, clay brick, bamboo, fiber cement, aerated concrete, and other
reinforced materials encompass exterior materials.
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Insulation was the leading application estimated to be worth USD 35 billion
in 2014. Spray polyurethane foam is the most widely used insulator. Framing is
the second strongest application growing at an 11.5% CAGR over the next 7
years. Certified wood, autoclaved aerated cement recycled steel studs,
certified wood, and other insulated panels are used after undergoing
technological advances. They provide structural stability and reduce emission
at the same time.
Europe had a demand for green building materials worth USD 46 billion in
2014. It will experience a high growth rate on account of the European Union
attempting to reduce its global carbon footprint. New construction projects in
this region will contribute to the revenue pool of the market. Existing
concrete buildings have been converted to green buildings. The construction
industry in Europe as well as demand for these materials will ensure the market
growth. Asia Pacific will display growth rate of 12% during the forecast
period.
Notable players of the green building materials market are Binderholz GmbH,
PPG Industries, Forbo International SA, Bauder Limited, and Lafarge.
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