San Francisco, 26 October
2018: According to a report by Grand View Research, Inc., global greenbuilding materials market is anticipated to value USD 364.6
billion by 2022. Growing requirement for energy –efficient and
environment-friendly construction materials is anticipated to propel demand for
green building materials. These eco-friendly building materials are likely to
reduce impact of global warming owing to low carbon footprint. In addition,
these installations can expected to consume less water during hardening and are
easy to maintain.
High demand for green building
materials attributed to numerous environmental and monetary benefits can
influence growth of market. Growing number of manufacturing companies
attributed to easy availability of raw materials to produce green building
materials can fuel market growth. Rising focus of government globally on
construction of green buildings to attain high energy-efficiency can influence
growth of market over next few years. Rising demand for residential and
commercial buildings attributed to increasing population can stimulate market
growth. Increasing energy costs and rising green buildings standards can
augment growth of market over the forecast period (2012 to 2022).
However, presence of price
sensitive consumers and uneven enforcement of energy regulation can restrain
growth of market during the forecast period.
Access
Research Report of Green
Building Materials Market@ www.grandviewresearch.com/industry-analysis/green-building-materials-market
The green building materials
market can be segregated on the basis of product, application, and region.
Based on product, the market can be categorized into interior, exterior,
structural, and others. In 2016, structural segment dominated the market and
accounted for 60% of global market share. It is expected to grow at CAGR of
11.4% during the forecast period. Rising concerns to reduce carbon emissions
and provide superior durability at low cost can fuel product demand over the
forecast period.
Similarly, interior segment is
likely to witness substantial growth attributed to growing consumer awareness
regarding environmental benefits of such products. Enhanced lightening,
superior aesthetics, and improved indoor air quality offered by green buildings
materials as interiors can fuel market growth.
Based on application, the
market can be classified into roofing, framing, insulation, exterior siding,
interior siding, and others. Insulation segment is expected to dominate the
market and account for largest market share over the forecast period. It can
contribute for market share equivalent to USD 85.9 billion by 2022 attributed
to high levels of energy conservation. In addition, growing number of
construction activities in commercial and residential sector can fuel growth of
segment in next few years.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/green-building-materials
Roofing is estimated to
contribute well for growth of market attributed to rising demand for non-toxic
rubber roofing. Superior durability and weather resistance offered by rubber
roofs can surge its demand among consumers over next few years.
Regional segmentation includes
North America, Europe, Asia Pacific, and rest of the world. In 2016, North
America dominated the market and accounted for 35% of global market share. The
market is expected to grow at similar pace in this region attributed to
favorable government policies and building codes. In addition, rising number of
renovation activities is likely to stimulate demand for green building
materials over next few years.
In Asia Pacific, the market is
anticipated to witness significant growth at CAGR of 12% over the forecast
period. It is expected to gain market share equivalent to USD 78.4 billion by
2022. Continual growth of residential sector in the region attributed to
increasing population requiring shelter can foster market growth. In addition,
Paris agreement signed by India and China to fight climate change coupled with
rising infrastructural development in economies can surge product demand during
the forecast period.
Some of the leading companies
offering green buildings materials are Alumasc Group Plc, Bauder Limited,
CertainTeed Corporation, BASF SE, and PPG Industries. The market is expected to
exhibit forward integration by raw material suppliers attributed to high profit
margins and demand. In addition, favorable buildings codes, regulations, and
certifications can augment growth of market. This, in turn, can increase number
of new entrants in the market. In addition, regional dominance of major
companies is likely to decrease owing to increase in import activities.
Moreover, development of advanced products is anticipated to spur growth of
market during the forecast period.
Access
Press Release of Green Building Materials Market@ www.grandviewresearch.com/press-release/global-green-building-materials-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
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