Global Construction Sustainable Materials Market: Overview
One of the major activities that cause maximum pollution across the globe is construction activities. That’s why several sustainable materials have been developed to replace the existing conventional materials. These new materials help in saving water, energy, and other different non-renewable resources. Shift to use of construction sustainable materials is profitable for builders so as to be compliant with future environmental regulations.
Global Construction Sustainable Materials Market: Notable Developments
Some of the notable developments in the global construction sustainable materials market are listed below:
- In August 2019, DuPont, a global leader in the construction sustainable materials market, announced a new partnership with Habitat for Humanity International. This partnership will allow DuPont to help Habitat for Humanity in building sustainable home projects that are highly energy efficient. This partnership will also allow employees of the company with ample opportunities for volunteering.
- In July 2019, BASF announced that it is planning to invest in a production plant for production of tert-Butylamine (tBA). This will be the second production plant in China and will be based in Nanjing. With this production plant, the annual tBA production capacity of BASF will grow by over 30%. The plant is expected to be active by 2020 and will get help from the cutting edge technology provide by BASF to produce the desired products.
- Bauder, a leader in the global construction sustainable materials recently announced that it has been awarded by Woodland Trust Certificate from the Woodlands Trust, the UK’s biggest woodland conservation charitable organization.
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Global Construction Sustainable Materials Market: Drivers and Restraints
There has been a growing trend across the globe of constructing green buildings with LEED (Leadership in Energy and Environmental Design) certification. To get this certification, builders are complying with stricter norms and using sustainable materials. Additionally, such green buildings are gaining massive popularity among consumers. This has been seen to drive the global construction sustainable materials market.
Another key driving factor for the growth of the construction sustainable materials market is ill effects of traditional building materials on the environment as well as on people. This has encouraged the uptake of more environment-friendly materials and thus helped in the development of the market.
However, the high cost of these sustainable materials is turning out to be a key restraining factor for the growth of the global construction sustainable materials market.
Global Construction Sustainable Materials Market: Geographical Outlook
Depending on geography, the global construction sustainable materials is segmented into five key regions viz. North America, Latin America, the Middle East, and Africa, Europe, and Asia Pacific. Of these regional segments, the global market is currently dominated by North America region. It is expected that the region will continue its dominance over the course of the given forecast period of 2019 to 2027. This growth of the North America construction sustainable materials is due to the maximum rate of conversion of using conventional materials to sustainable materials so as to tackle the growing issue of climate change and other environmental concerns though LEED certifications.
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On the other hand, Asia Pacific segment is expected to witness the highest growth potential during the course of the given forecast period of 2019 to 2027. This high growth rate is due to the rapid urbanization and construction activities that are taking place in emerging economies such as India and China.
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