Impact of Covid-19 Outbreak on Green Building Materials Market

21/lug/2020 11:19:24 Automotive Market Research Reports Contatta l'autore

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The global green building materials market is touted to touch USD 245 billion at a stellar 17% CAGR over the assessment period (2016-2022), as per the expansive report by Market Research Future (MRFR). Green buildings which is also popularly known as green construction or sustainable buildings are buildings which make utilization of resource-efficient and environment-friendly processes to design, construct, maintain, renovate and operate all through the lifecycle. The best part is these materials does not harm the environment as it does not cause pollution. Green building materials are largely used in the construction industry for addressing numerous environment challenges such as loss of biodiversity, contamination of water resources, atmospheric pollution, natural resource depletion and anomalous climate change. Various forms of green building materials are accessible in the market namely fiber-cement composites, galvalume panels, and linoleum. This material offers specific perks to building occupants and building owners such as greater design flexibility, lower costs related to changing space configurations, productivity and improved occupant health, energy conservation and reduced replacement/maintenance costs of the building. In comparison to conventional buildings, green buildings have an upper hand due to its wonderful features namely high ROI, energy and water efficiency, easy maintenance and efficient technology. These buildings will also ensure improved mental and physical health of inhabitants, waste reduction and temperature moderation.

There are plentiful factors that is boosting the growth of the green building materials market. These factors include favorable government policies, the materials’ emission reduction potential, high asset value, growing awareness about green materials, increase in market and client demand for green building materials, improved worker productivity on account of healthier indoor environment, drop in operating costs and alluring features such as low water requirements and low maintenance cost. On the contrary, scarcity of skilled professionals, time-consuming construction process, scarcity of raw materials and higher initial costs are factors that may impede the growth of the green building materials market over the assessment period.

Market Segmentation

MRFR report provides an extensive segmental analysis of the green building materials market on the basis of application and end-use.

Based on application, it is segmented into industrial, infrastructure, commercial and residential.

Based on end-use, the green building materials market is segmented into roofing, framing, insulation, interior finishing, exterior siding and others. Of these, insulation will have the largest share in the market over the assessment period.

Regional Analysis

By region, the green building materials market covers growth opportunities and latest trends across Rest of the World, Asia Pacific, Europe and North America. Of these, North America will account for the largest share in the market over the assessment period. This is owing to growing demand for energy saving construction buildings, growing consumer awareness about economic and environmental benefits and non-government and government regulations for energy efficiency practices. North America is predicted to hold its position in the future due to the favorable policies and building codes concerning the use of green building materials in the construction industry and growing renovation activities. The green building materials market in the Asia Pacific region is predicted to grow at the fastest pace over the assessment period. This is owing to the increasing residential construction sector here. Climate agreement signed by China and India for restraining the climate change and growing infrastructure development is predicted to fuel the market growth in this region.

Key Players

Leading players profiled in the green building materials market include Owens Corning, BASF SE, Lafarge Company, Kingspan Limited, Forbo International SA, E. I. du Pont de Nemours and Company, PPG Industries, Inc., RedBuilt LLC, LG Hausys Ltd., CertainTeed Corporation, Homasote Company, Wienerberger AG, Binderholz GmbH, Wienerberger AG, Bauder Ltd., and Alumasc Group plc.

Industry Update

May 2019- Bodega Garzon is the First Winery to attain LEED Silver Certification for its entire facility. It uses regional materials of the highest percentage and with regards to green power has exemplary performance thereby reducing emissions considerably. This winery has created a biodiverse environment along with optimizing energy efficiency having the largest green roof.

Note: The COVID-19 pandemic disruption is estimated to transform the XX market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the XX market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.

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