Green building or green construction is a structure and an application of the techniques which are ecologically responsible and resource-sufficient for the entire building cycle, starting from planning, followed by designing, construction, operation and finally maintenance or demolition in some of the cases. In green building technology the material used for construction, known as green building materials play an important part. These materials are preferred due to their low energy consumption property. Some of the widely used green building materials are fiberglass, cotton, wool, and cellulose that are in high demand in the construction work. They are known to be less toxic and quite eco-friendly in nature.
Regions with Adverse Climatic Conditions Offer Huge Scope of Future Opportunities
Since the green building materials are comparatively less harmful and lacks toxicity that helps in maintaining good health of people. These reasons encourage the governments of various regions to take measure and come up with suitable and interesting policies. These government bodies are trying to promote the positive effects of using green building materials. Moreover, the growing demand for environment-friendly paints, distempers, and glues that are free from (VOCs) volatile organic compounds, along with carpet tiles made of recycled materials are also foreseen to fuel the demand for green building materials in the global market.
The latest innovation in green building materials consisting of autoclaved aerated concrete, steel made with recycled material, structural insulated panels, and engineered lumber are expected to pump up the demand of green building material even more in the global market. These unconventional materials also drive interior finishing and framing application segment. Moreover, regions that experience regular climatic fluctuations and extreme weather conditions gives a great scope of development and innovations for the manufacturers who want to work on the development of green roofs. These green roofs help in rain water harvesting and retaining the temperatures within the limit.
Government Initiatives to Spread Awareness among the Masses Helps the Market Growth
Based on application, the green building materials market is segmented into interior finishing, roofing, exterior siding, insulation, framing, and others. The geographical region of the green building materials market is segmented into Asia Pacific, North America, Europe, and Rest of the World (RoW). Rigid regulations in North America has impacted the green building technology to a very large extent. The region holds more than 40% of the entire market shares. Europe region is also competing with its new policies and regulations, leading to the implementation of the green building technology in construction business and in renovation and retrofitting activities. Owing to their fluctuating weather conditions and harsh climates, Asia Pacific and Rest of the World are also adopting the green building technology to eliminate the adverse effects of conventional building materials. Governments of these regions are also supporting with their new regulations and initiatives to spread awareness among the masses.
Urbanization Fuels the Global Demand for Green Building Materials
CertainTeed Corporation, E. I. du Pont de Nemours Company, BASF SE, Owens Corning, and Kingspan Group Plc are the key players in the global market, which are expected to rule the market with almost 12% of the entire shares in terms of revenue in year 2012. Healthcare, residential, R&D centers, education, public facilities, and commercial and industrial segments are some of end-users of green building materials technology. Moreover urbanization has also added to the demand of the technology, anticipated to fuel the market growth.