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Green building materials are used to construct an eco-friendly building structure. These materials include straw hempcrete, wood, recycled plastic, bamboo, bales, and ferrock. The purpose of using these materials is to make energy-efficient structures that help in maintaining the ecological balance in nature. The use of green building materials can be a solution to numerous environmental challenges such as atmospheric pollution, contamination of freshwater resources, loss of biodiversity, anomalous climate change, and natural resource depletion. These benefits make green building materials the best alternatives to conventionally used construction materials.
The increasing preference for green building materials over traditional construction materials will surge the growth for the green building materials market. Green building materials benefit in reducing carbon footprint and thus allow reduction in the global warming. Additionally, these materials are energy-efficient, and environmental-friendly, hence, are easy to maintain and provide cost-saving features. These benefits of green building materials, make them an ideal material of choice when compared with traditional construction materials.
However, fluctuations in the prices of green building materials, owing to its availability and higher demand from end-user, is anticipated to restrain the market growth.
Key Market Driver -
Increasing preference for green building materials over traditional construction materials will surge the market growth
Key Market Restraint -
Fluctuations in the prices of green building materials to restrain the market growth
Based on type, the green building materials market is segmented into wood, recycled plastic, bamboo, bales, ferrock, and others. Based on end-use, the market is segmented into residential buildings, commercial & offices, institutional, industrial, hospitality & leisure, and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Some of the key players in the green building materials market includes PPG Industries, DuPont, Forbo International SA, Interface Inc., Kingspan Group plc, Lafarge, BASF SE, Owens Corning, National Fiber, RedBuilt, LLC, CertainTeed Corporation, Binderholz GmbH, Bauder Limited, and Alumasc Group.
The green building materials market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the highest contributor to the green building material market. The growth is due to favorable policies regarding the use of green building materials in the construction industry. The Asia Pacific accounted for second-highest revenue share, owing to the growing residential construction sector in the region. In Europe, growth is associated with the increasing demand for green building materials in hospitality & leisure applications. Moreover, increasing emphasis to reduce operational costs and maintenance of the structure, the need for green building materials is rising in this region. The Middle East & Africa is anticipated to witness sustainable growth, due to rising residential & commercial building.
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