Description :
Global green building materials market is expected to grow at a CAGR of 11.9 % from 2016 to 2022 to reach $ 377,029 million by 2022 from $ 171,475 million in 2015 . Green building is a technology to develop an environmentally friendly building structure . The purpose of green building structures is to reduce the negative impacts of buildings on human health and the environment through better site selection , construction , design , maintenance , and removal throughout the complete life cycle of the green building material . The aim of the report is to analyze the present and projected future trends of global green building materials market , as the demand for the product is expected to rise . The analysis provides an understanding of the market potential in various industry applications . The study focuses on the opportunities in emerging economies of the globe so that companies can strategically make region specific plans and gain a competitive frame of reference .
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The positive effect of green building on human health majorly drives the market . Moreover , governments in various developed countries facilitate high performance green building ; an example of this is U . S . American Recovery and Reinvestment Act . Owing to the frequent climate changes and extreme weather conditions , consumers prefer to adopt green roof technology to maintain the temperature within the structure as well as for rainwater harvesting . However , unavailability of high performance and ecofriendly green building material and cost concerns are the key factors that hinder the market growth .
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The cost associated with the construction of green buildings is more than that for normal buildings . The market is anticipating a significant growth attributing to the stringent regulations adopted by North American and European Governments shifting the focus towards green building technology . Furthermore , attempts by various NGOs and societies to increase awareness about the adoption of sustainable technology would drive the green building material market in future .
The report segments the green building construction materials market on the basis of product type , application , and geography . Based on product type , the market is segmented into exterior products , interior products , building systems , solar products , and others . Others include structural products and permeable pavement . According to application , the market is classified into residential buildings and non-residential buildings . Non-residential segment includes commercial & office , institutional , industrial , hospitality , and leisure . Geographic breakdown and deep analysis of each of the aforesaid segments is included for North America , Europe , Asia-Pacific , and LAMEA .
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