Market Synopsis
The Global Green Building Market is a very dynamic market and is expected to witness high growth over the forecast period. Besides being good to the environment, green buildings are resource efficient throughout their life cycle. Most countries are adopting the green building concepts, with the rest of the countries following. Eco-friendly construction involves the use of materials and processes that are resource-efficient and environmentally responsible throughout the life cycle of a building. Emission reduction potential of green building materials, higher asset value of green buildings, growth in public awareness regarding green materials, and increase in market demand are the major factors driving market growth. In addition, reduced operating costs and enhanced worker productivity due to healthier indoor environment will add to market demand for green building materials
Green building market is expected to be promising during the forecast period due to the major driving factors such focus on high-quality products, changing lifestyle of consumers and rising demand renewable resources. The green building market is undergoing various changes with evolving customer expectations, acceleration of technological innovation, and shifts in competitive market. Green technology helps reduce emissions, conserves water, reduces waste and consumes less energy than conventional technologies. Increasing number of funding commitments for the commercialization and development of refueling infrastructure, will be crucial factors for the growth of the market in the years to come. Global green building market is expected to be growing at a CAGR of 10.12% from 2017 to 2023.
Key Players
The key players of global green building market include
- Alumasc Group Plc (UK),
- Amvik Systems (Canada),
- BASF SE (Germany),
- Bauder Limited (UK),
- Binderholz GmbH (Germany),
- E. I. du Pont de Nemours and Company (U.S.),
- Forbo International SA (Switzerland),
- Interface Inc. (U.S.),
- Kingspan Group plc (Ireland),
- Owens Corning (U.S.).
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Global Green Building Material Market – Competitive Analysis
The green building market is partnering with manufacturers to develop products and materials that reduce a building’s overall embodied energy in order to create a more sustainable construction industry.
The industry has witnessed players entering the market to provide green building materials for the construction purposes. The new and existing players are seen investing more in the R&D to develop products and material that prove to be energy saving for construction. The industry has also witnessed increased interest in the concept of energy management systems to monitor the energy usage of buildings to ensure optimal energy savings. Increasing partnerships between green building component manufacturers and technology providers. The global acceptance of solar energy has caused solar technology to get better and cheaper and companies have started to develop products to cater to the requirement. For instance, Tesla (U.S.) has announced the launch of its new solar shingles.
Knauf Insulation, a member of World Green Building Council’s Europe Regional Network, and a global insulation company has achieved its 2020 sustainability targets in 2016, four years ahead of schedule, by reducing its energy use by 20.9 per cent and cut CO2 emissions by 25.1 per cent.
On the other hand, LIXIL Corporation (Japan) and TEPCO Energy Partner, Incorporated (Japan) announced a joint venture company called LIXIL TEPCO Smart Partners, Inc. The association between the two companies is expected to promote the building of eco-friendly net zero energy houses (ZEH)1 in Japan. The operation started in October, 2017. BASF was also seen supporting sustainable building and contribute to climate protection. BASF showcased a range of these solutions in the World Green Building Week in October 2017. These include insulation systems, solutions to optimize the concrete mix, ways to reduce impact sound, and more.
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Regional Analysis
Among developing countries, the share of buildings in total energy use and emissions is much lower. But rapid economic growth and industrialization in these countries is pushing a booming construction sector. Construction activities are increasing, across the globe, particularly in countries such as India and China. People have been focusing more on green construction due to its advantages such as reduction of overall impact on environment as well as human health. Also, it reduces the operating cost. Hence, growing interest in green construction, and the improved cost efficiency of traditional buildings methods have increased the demand for this technology.
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