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Green Materials Poised for Growth

Wednesday, January 14, 2015

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North America leads the world in the demand for green building materials, a market projected to expand 12.5 percent annually, to reach $234.77 billion by 2019, according to a new market study.

Green Building Materials Market” from Transparency Market Research, of Albany, NY, says growth in the market is driven by a positive effect of green building on human health, government support, and a rising demand from construction industry.

modern construction
©iStock.com / Vladimir_n

The construction market has triggered a shift to green building technology in North America. The continent is considered the foremost green building materials consumer, accounting for 40 percent of the total market share.

The market was valued at $106.32 billion in 2012.

The Market: By Region

By region, the green building materials market is segmented into North America, Europe, Asia Pacific, and the Rest of World.

Due to stringent regulations in the regions such as North America and Europe, the construction market has triggered a shift to green building technology.

Asian city
© iStock.com / fazon1

Asia Pacific is projected to be one of the most attractive markets for green building materials over the next few years.

According to the study, North America is the foremost green building materials consumer, accounting for 40 percent of the total market share. Europe has also shown a significant growth. The continent held held 32 percent of the total volume share in 2012, and is estimated to rise further in near future.

Due to adverse climatic conditions and government initiatives, Asia Pacific and RoW regions have also shown a significant demand for green building materials, and are expected to be the most attractive markets for green building materials in the next few years, the market study predicts.

Application Drivers

The report also examines the market by application types—framing, roofing, insulation, interior finishing, exterior siding and others.

The insulation applications segment is the largest, accounting for 21 percent of the total market share. The rising demand for cellulose, cotton, fiberglass and mineral wool for insulations is projected to show a “healthy growth” in the near future, according to the market research firm.

Additionally, rising demand for eco-friendly materials from green roof manufacturers is estimated to drive growth for the roofing application segment.

Increasing demand for volatile organic compound free paints and glues, as well as carpet tiles with recycled content is expected to drive the market for interior finishing.

townhouse construction
© iStock.com / Ca2hill

Demand for environmentally-friendly building components will help the market reach $234.77 billion by 2019.

Farming applications market is projected to grow due to rising demand for new non-conventional materials, such as steel with recycled content, engineered lumber, autoclaved aerated concrete, and structural insulated panels.

Growth by End-User

The report also indicates the green materials market growth by end-user—public facilities, education, healthcare, commercial and industrial, R&D centers, residential and other industries.

As the regulations are in favor of utilization of green building materials in construction, public facilities were the largest segment in end user industry.

An increase in urbanization activities in the regions of Asia Pacific and RoW have helped the public facilities segment to grow and expand. It is expected to hold the highest market share, in terms of volume, in 2019.

Development of the industrial sector along with commercial facilities in the emerging markets displayed the highest demand in 2012, holding 22 percent of the total market share, according to the market report.

Further, due to extensive industrial development, expansion projects and the growing population in Asia Pacific and RoW, R&D centers and residential are expected to be the fastest growing segments in end-user segment in near future, the market study noted.

   

Tagged categories: Building materials; Business conditions; Green coatings; Market; Market share; Recycled building materials

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