Green Building Materials Market: Global Industry Trends, Share, Growth, Region and Forecast By 2023

NEW CITY, N.Y. - Jan. 11, 2019 - PRLog -- Over the past few years, the global green building materials market has been witnessing a healthy growth. This can be accredited to the advantageous properties of green building materials such as durability, sustainability and energy-efficiency. Besides this, progress in technology and numerous initiatives undertaken by different governments are also strengthening the market growth.

As per the latest report by IMARC Group, entitled "Green Building Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023", the global green building materials market reached a value of around US$ 200 Billion in 2017. Green building refers to the construction of structures using processes which are eco-friendly and resource-efficient. These structures are constructed using green building materials that help in minimising the emission of greenhouse gases and impact on the human health during the process of fabrication. Some of the widely utilized green building materials include aluminium, thatch, mud, clay, fabric, glass, steel, wood, durisol, ceramic, limestone and rammed earth. As these materials are procured from renewable waste products, they are highly energy-efficient and have the potential to cut down the overall construction cost.

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On account of their various advantages, green building materials are considered ideal for the construction of residential and non-residential buildings. Over the past few years, the construction industry has witnessed a rapid change with builders increasingly employing green building materials, particularly in the emerging economies. Apart from this, the government of several countries are undertaking favourable initiatives so as to encourage the use of green building materials. For instance, China commits to preserve its resources and reduce harmful gas emissions by adopting a national rating system, namely, Green Building Label (GBEL) which is administered by the Ministry of Housing and Urban-Rural Develop (MOHURD). Moreover, the presence of a large number of manufacturers is aiding the sourcing of the materials. Further, the oversupply of green building materials coupled with technological advancements is expected to lower their prices, in turn, contributing to the growth of the market. Looking forward, the market value is projected to reach US$ 388 Billion by 2023, expanding at a CAGR of 11.7% during 2018-2023.

Green Building Materials Market Segmentation:

Market Segmentation by Application

·         Insulation

·         Roofing

·         Framing

·         Interior Finishing

·         Exterior Siding

·         Others

Based on application, insulation represents the largest segment which is followed by roofing, framing, interior finishing, exterior siding and others. Insulation helps in providing resistance to the heat flow, thereby reducing heating as well as cooling costs.

Market Segmentation by Region

·         Europe

·         North America

·         Asia Pacific

·         Middle East and Africa

·         Latin America

On the basis of region, the market has been segmented into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. Presently, Europe is the biggest market, holding the majority of the global share.

Competitive Landscape:

The market is fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:

·         Alumasc Group Plc

·         Bauder Limited

·         Binderholz GmbH

·         CertainTeed Corporation

·         RedBuilt

·         PPG Industries

·         DuPont

·         Forbo International SA

·         Interface Inc

·         Kingspan Group plc,

·         Others

For more information, click here: https://www.imarcgroup.com/green-building-materials-market

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