The global green materials market is extremely fragmented in nature with a moderate level of competition, states a new research study by Transparency Market Research (TMR). The leading players in the global market, namely Kingspan Group Plc, E. I. duPont de Nemours Company, BASF SE, Owens Corning, and CertainTeed Corporation are projected to dominate the overall market over the next few years. In 2012, these players collectively held a share of nearly 12% in the global market in terms of revenue. In order to increase market penetration, key players are focusing on technological advancements and product innovations. Moreover, the rise in research and development activities is estimated to expand the application base and benefit the leading players.
According to the research study, in 2015, the global market for green buildings materials was valued at US$141.49 bn and is expected to reach a value of US$234.77 bn by the end of 2019. The market is predicted to expand at a 12.50% CAGR between 2013 and 2019.
Increasing Construction Activities to Drive Demand for Green Building Materials
Among the key geographical segments, North America is presently leading the global green building materials market and is expected to account for a share of 41.6% by the end of 2019. “The increasing number of construction activities in this region is the primary factor boosting the demand for green building materials,” says a TMR analyst. In addition, the high growth of this region can be attributed rising demand for roofing, insulation, and interior finishing applications. On the other hand, Asia Pacific is expected to experience robust growth with growing demand for framing and exterior siding.
The public facilities segment, among the other end-use segments, is expected to lead the global green building materials. This segment is estimated to hold a share of 22.1% by the end of 2019, thanks to the growing need to provide facilities to the increasing population across the globe. Additionally, the rising awareness among consumers regarding the benefits of green building technology is expected to encourage the market’s growth in the next few years.
Federal Support for Sustainable Construction to Propel Global Green Building Materials Market
As per the TMR analyst, “Investments in the global market by leading players are expected to grow throughout the forecast period, owing to the favorable regulatory framework imposed by environmental and government organizations”. In addition, the federal support for sustainable and high performance constructions is estimated to accelerate the growth of the overall market throughout the forecast period.
Furthermore, the positive effect of green buildings on human health and the growing awareness regarding the several hazards to human health of non-green building materials are projected to fuel the growth of the overall market in the next few years. Moreover, initiatives taken to promote the use of green building materials and technology are estimated to bolster the global green building materials market.
Rigid Regulations Concerning Use of Green Building Materials to Limit Market Growth
The increasing number of organizations showing interest in green building technology has resulted in the development of rating systems, standards, and codes that are expected to allow government regulators, building construction professionals, and consumers to maintain specific standards. These strict regulations are expected to restrict the growth of the global green building materials market in the coming years. Nevertheless, the growing demand for renovations and retrofits of old constructions sites and monuments across the globe is expected to offer promising opportunities for market players.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Green Building Materials Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013-2019.”
The global green building materials market has been segmented as below:
Green Building Materials Market, by Application
- Exterior siding
- Interior finishing
Green Building Materials Market, by End Use
- Public facilities
- Commercial and industrial
- R & D centres
Green Building Materials Market, by Geography
- North America
- Rest of the World (RoW)
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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