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.
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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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