According to a new report published by Allied Market Research, titled, "Green Building Materials Market by Product Type and by Application - Global Opportunity Analysis and Industry Forecast, 2014-2022" the global green building materials market is expected to be $171,475 million in 2015, growing at a CAGR of 11.9% from 2016 to 2022 to reach $377,029 million by 2022. The exterior products segment dominated the market in 2015 with one-third share, in terms of revenue.
What are the drivers behind this growth:
- emission reduction potential of green building materials
- high asset value of green buildings
- growth in public awareness regarding green materials
- increase in client and market demand
- reduced operating costs and
- enhanced worker productivity due to healthier indoor environment
What are the key findings of the study:
- Asia-Pacific is expected to continue to lead the market during the forecast period followed by Europe
- Solar products market revenue is projected to grow with a high CAGR of 13.5 per cent during the forecast period
- Roofing is the fastest growing segment in green building exterior products, registering a CAGR of 12.2 per cent during the forecast period
- Brazil accounts for three-fifths share in LAMEA green building materials market in 2015
- India grows at a faster rate in Asia-Pacific green building materials market, registering a CAGR of 12.7 per cent from 2016 to 2022
- France accounts for 11.1 per cent share in Europe green building materials market in 2015
What’s happening in the Asian pacific region
Asia-Pacific and Europe collectively contributed more than half of the share to the global green building materials market revenue in 2015.
In the same year, Asia-Pacific dominated the market, owing to the presence of healthier neighborhoods and pressure of environmental regulations pertaining harmful emissions.
Conclusion
It’s always good to get a global perspective and this article provides us with information that relates to different countries and continents.
Looking closer to home, in the story below we provide you with a snapshot of what is happening in the Australian Green Building industry. In the Green Star article we include a link to the Green Building Council of Australia (GBCA)’s website so you can see how many registered and certified projects there are in Australia.