Growing consumer awareness towards renewable material resources along with increasing environmental concern is a major factor in driving the growth of green building material market. Green building refers to structure along with using processes that are environment friendly and energy efficient. Stringent environment regulations and rating systems by LEED, BREEAM, CASBEE, DGNB, GHG Indicator, UNEP and FIDIC has also fuelled the growth of green building material global market. The green building material concept includes benefits such as improved occupant health and productivity, greater design flexibility, reduced maintenance/replacement costs and energy conservation. This is further expected to drive the global market over the forecast period.
The Green building material market may be segmented into framing, roofing, insulation, interior finishing and exterior siding. The increasing demand for green materials such as cellulose, cotton, fiberglass and mineral wool for insulation is projected to show a sharp growth in green material market share in the forecasted period. The interior finishing segment is also estimated to grow stridently due to rising demand for volatile organic compounds free paints, glues and carpet tiles. Other segments in green building material on the basis of efficiency include water efficiency, energy efficiency, materials efficiency and structure efficiency. The indoor environment quality enhancement includes thermal and lighting efficiency which further add to the increasing market share of these materials. Insulation accounts for the largest segment in green building materials market.
Source: Grand View Research