Green Building Materials Market is anticipated to witness growth in the long run. Rising prices of fuel along with the seeking for technically superior automobiles by consumers are anticipated to support market demand.
Green building materials are made up of renewable, instead of nonrenewable resources. Renewable building materials are products such as lumber from forests; recyclable material also includes bamboo and straw, recycled stone, dimension stone, and metals that are recyclable.
Green Building Materials Market is anticipated to witness growth in the long run. Rising prices of fuel along with the seeking for technically superior automobiles by consumers are anticipated to support market demand. The green building material helps in reducing carbon footprint and thus enables in reduction of the impact of global warming. These materials are also easy to maintain and also consume less water in comparison to other building materials. Due to its numerous environmental and monetary benefits, the demand is anticipated to propel market growth in the long run. The construction sector is anticipated to utilize green building materials owing to their cost-saving feature, and energy-efficient and environmental-friendly structures. Moreover, the rising focus of government on energy efficiency and green buildings as an alternative to the recent global crisis is also anticipated to witness growth in the anticipated period. The surging cost of energy and high-performance green building products are considered to bolster market growth. The enable products such as bamboo are harder than red oak and can also withstand some wetting. It can also be refurnished easily to eradicate traces of wear and tear will a minimum cost as compared to other building materials. However, cost concerns and market barriers related to the green building materials and uneven enforcement of energy regulation and along with highly price-sensitive consumers might hinder the market growth of the industry.
The green building materials market is segmented on the basis of product type, into exterior products and interior products. Exterior products will hold a substantial share in the market owing to their use of windows, roofing, doors, and sidings among others.
On the basis of region, the green building materials market is segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. North America is anticipated to hold a substantial share during the forecast period, owing to the increasing green building construction in the residential sector and also due to the increasing number of buildings, and also due to the rising number of building policies and regulations providing energy-efficient structures. Moreover, the region is anticipated to witness high housing demand in the near future with good returns on investment. Additionally, the region is considered to witness huge investment in residential construction coupled with the presence of some of the major players in the market such as BASF SE, PPG Industries, and Owens Corning. This is anticipated to contribute to the market growth.
Renowned green building materials market players are Amvik Systems, PPG Industries, Alumasc Group Plc, Bauder Limited, BASF SE, Forbo International SA, Binderholz GmbH, Cold Mix Manufacturing Corp., Green Build Products, Owens Corning, GE Sealants and Adhesives, Inc and Momentive Performance Materials Inc. among others.
The report segments the green building materials market as follows: