by Brianna Crandall — December 1, 2014—For those involved in a green building construction or renovation project, a new report from Transparency Market Research explores the green building materials market, which the group says is regarded as a voluntary pursuit of environmental activity that is concerned directly with environmental management, energy efficiency, renewable energy, waste management, recycling, and water management. Demand for green building materials is expected to reach $234.77 billion by 2019 globally, climbing at a compound annual growth rate (CAGR) of 12.5% in the forecast period, 2013 to 2019.
Green building materials market summary
While the growing demand and use of green materials will continue to support the gains in the green building materials market, the primary and most important driver for a global demand is expected to be the rebound in the construction market. Green concrete products are environmentally friendly to use because the implementation of recycled materials in construction mixes reduces the volume of waste and improves the overall structure performance.
Besides the increasing demand for several green building products in the construction industry, the overall green building materials market is expected to witness growth due to factors such as widespread environmental concern, benefiting from greater availability, building code standards, and more stringent regulations.
The green building materials market has gained tremendous impetus in the last several years. The overall market is expected to grow exponentially as more entrepreneurs and professionals are vying to enter into this market to make significant changes and also develop certified green products for green construction projects worldwide.
Recently, the market has observed some new inventions such as renewable solutions derived from agricultural bioproducts as a part of the efforts to replace plastic insulation foams. Similarly, biomaterials manufactured from bamboo and various other agricultural derivatives such as wheat straw, sugarcane, and fiber crops or timber, glass, and engineered wood are expected to see increased demand from different end-user applications over the forecast period.
Green building materials market by application segments
The market study covers interior finishing, roofing, exterior siding, framing, insulation, and other applications within the green building materials market. The insulation applications sector was found to be the largest market segment in 2012, accounting for around 21% of the market share at a global level. Insulation is considered the most mature sector, yet is expected to show healthy growth numbers in the next five years. Materials such as cotton, cellulose, fiberglass and mineral wool are also gradually growing and capturing the global market for insulation.
The roofing application segment has witnessed high growth because in many regions various manufacturers have developed green roofs with eco-friendly materials. Within the framing applications segment, conventional materials are expected to be replaced by autoclaved aerated concrete, wooden structures, steel with recycled content, structural insulated panels, and engineered lumber.
Similarly, growth is expected in the interior finishing materials segment due to the availability of eco-friendly products such as volatile organic compound (VOC)-free glues and paints, recycled tiles and carpets. Both the interior finishing and framing application segments are expected to expand with healthy growth numbers until 2019. However, roofing will eventually witness a decline in the market share due to increasing growth in the insulation, framing, exterior siding, and interior finishing segments.
Regions active in the green building materials market
Geographically, North America was a dominant region in the global market for green building materials in 2012. It accounted for more than 35% of the global market share in terms of volume as compared to other regions in the world. Europe is the next-fastest-growing market, accounting for about 32% of the total volume share in 2012. Many regions in Asia-Pacific are also expected to show significant growth signs between 2013 and 2019.
A sample copy of Green Building Materials Market—Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013-2019 is available from the TMR Web site, and the full 113-page report is available for purchase.
