Green Building Materials Market: Overview
Green building also called sustainable building or green construction refers to buildings that are environment-friendly and energy efficient throughout their lifecycle, which involves designing, construction, maintenance, renovation, operation, and demolition. The popular materials that are used in making a green building are straw bales, grasscrete, rammed earth, hempcrete, bamboo, recycled plastic, and wood, among others. Mycelium, ferrock, ashcrete, and timbercrete are also being used to construct green buildings. The primary thought of green building construction is to define an approach that minimizes negative effects on the environment (air, water, and earth) as well as human health. The primary sources of green building materials are renewable sources (forests) and recycled materials (doors, old plumbing, recycled plastic, etc).
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Some of the major advantages that green building provide as compared to conventional buildings are efficient technology usage, easy maintenance, improved air quality, water and energy efficiency, and high return on investment. These building also ensure temperature moderation, waste reduction, water conservation, and improved physical and help improve mental health of the inhabitants.
Increasing health concerns among people, growing responsibility and concerns towards environment safety and increasing demand for efficient energy usage is expected to drive the growth of green building materials market over the forecast period (2016–2024). A major spike has been witnessed in stress levels and related health problems among the global populace over the last couple of decades. The home and work environment of an individual has a major impact on the person’s wellbeing and thus, consumers are increasingly inclined towards aesthetically pleasing green buildings that help alleviate both physical and mental problems. This is a key factor fueling market growth. This trend is expected to gain further traction in the near future. However, higher initial costs, dearth of raw materials, lengthy construction time, and lack of skilled professionals impedes market growth. Basic construction materials used in green buildings, such as straw bales, grasscrete, rammed earth, hempcrete, bamboo, recycled plastic, and wood are not widely available across the globe. The process of using this materials as construction material is costly and professional workers are needed, which makes the process capital intensive.
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Green Building Materials Market Outlook – Rising Concerns Regarding Environment Safety to Fuel Market Growth
The growing concerns regarding the environment safety is in turn expected to drive growth of the market over the forecast period. Growing concern towards environmental safety, such as concerns regarding water wastage, inclination towards conservation of natural resources and protection of biodiversity fuels growth of the global green building materials market. Various dedicated regulatory bodies such as Leadership in Energy and Environmental Design (LEED) have green building ratings and certification programs and have formed guidelines pertaining to green building construction. Green Rating for Integrated Habitat Assessment (GRIHA) is an environmental safety regulatory tool used by the United Nations for encouraging adoption of renewable materials in the construction sector. Another popular research institute dedicated towards sustainable development and environmental safety in India and South Asia is TERI (The Energy and Resources Institute).
Product innovation is one of the key strategies adopted by the leading players in the green building materials market. Manufacturers are focusing on adding solar thermal cladding and bio-plastics. In 2016, Gunlocke, a furniture manufacturer introduced Myco Board. This new ecofriendly product offers cost-effective, environment friendly solutions for interior products. Some of the major companies operating in the global green building materials market are Alumasc Group Plc, AMVIC Building Systems, Binderholz gmbh, Bauder Ltd, BASF SE, and Interface
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