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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Market: http://www.grandviewresearch.com/industry-analysis/green-building-materials-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.
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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Research : http://www.grandviewresearch.com/industry/green-building-materials
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