Green building refers to a structure that is environmentally responsible and efficient with respect to resources throughout the lifecycle of a building. The material utilized for this type of construction is known as green building material. Green building materials are responsible for efficiency and sustainability of a building structure in terms of design, construction, maintenance, renovation and demolition. Leadership in Energy and Environmental Design (LEED), Green Building Evaluation Labeling (GBEL) and Building Research Establishment Environmental Assessment Method (BREEAM) are some of the leading rating systems for buildings and large scale developments in U.S., China and UK respectively.
The green building sector is one of the fastest growing industries worldwide. Green building systems like LEED, the ICC 700 National Green Building Standard, BREEAM, etc. will likely to drive demand for green building projects. In order to achieve green building certification, a green building project needs to fulfill a number of necessities, including energy and resource-efficiency and the use of sustainable building materials. Moreover, growing retrofitting and renovation activities in the construction industry is driving demand for green building materials.
Framing, insulation, roofing, exterior, siding, interior finishing and others are key application segment of green building materials market. Insulation segment accounted for over 23% share of the total green building materials volume consumed in the year 2014. This trend is expected to continue for the duration of the forecast period. Interior finishing is expected to be the fastest growing segment as a large amount of green building materials such as wood, recycled carpet tiles and volatile compound-free paints are replacing conventional materials used in interior finishing operations. However, interior finishing application segment is expected to exhibit fastest growth rate during the years to come. Increasing demand for VOC free glue and paints and solar tiles manufactured from recycled material is expected to drive interior finishing application segment of the green building materials market.
Source: Globe News Wire
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