Global Green Buildings Market Dynamics, Application Share, Growth, Vendor Competition, Trends and Forecast 2018-2025
Green building is an important step put forward to mitigate harsh effects of the building stock on the society, environment and economy. The energy utilized in constructions and buildings emit increased greenhouse gases which raises concerns about healthy environment and better living. It’s possible to reduce the effect of these harmful gases by adoption of eco-structure or greening concepts. Consequently, the global green building market exhibits a considerable competitive vendor landscape. Although the market is in its developing stages, it’s anticipated that the competition will get fierce during the forthcoming years mainly due to the entry of new players in this field. Based on statistics, the global green building market size is expected to grow at an astonishing CAGR of xx% during the forecast period from 2018 to 2025.
Factors raising the demand for sustainable construction materials are higher application due to the propelling building rating systems, emission reduction potential, stringent governmental regulations, and large-scale investment by federal agencies. These materials employed in construction industry are mostly recyclable enhancing the production environment and quality of life.
across the world favoring eco-structures act as a catalyst for green building market. Green building rating systems like U.K.’s Building Research Establishment Environmental Assessment Method (BREEAM), U.S.A.’s Building Research Establishment Environmental Assessment Method (BREEAM) and China’s Green Building Evaluation Labeling (GBEL) is encouraging the way through benefits for greater adoption of green buildings among consumers. Growing urbanization along with national commitments to reduce greenhouse gas emissions and preserve resources is driving world’s steady commitment to extend the green buildings share in its massive construction market. Moreover, number of incentives are provided in various cities and states in countries like United States, Europe, China, etc. to inspire building owners to attain green building certifications. Thus, global green building industry will maintain its growth during the forecast period.
Diverse cost concerns and market barriers occur while constructing a green building. One of the most common is “split incentive” barrier, i.e., owners don’t have sufficient amount of funding to invest in their building construction as the occupants reap higher benefits from these investments instead of owners. Out of total existing commercial buildings and households, most of them are rented or leased.
Adhering to the existing norms in terms of swift adoption of any changing regulations put forward by governments, eco-friendly packaging as well as aim to obtain product differentiation are the fundamental strategies employed by various key players to withstand the competition in the green building market. Apart from this, key players have also adopted different strategies such as product launch, collaboration, expansions and acquisitions. Businesses in the market have set up certain goals, they come up with innovative packaging solutions and undertake extensive research.
Furthermore, most prominent key players in green building market are Amvik Systems (Canada), Bauder Limited (UK), E. I. du Pont de Nemours and Company (U.S.), Kingspan Group plc (Ireland), Alumasc Group Plc (UK), BASF SE (Germany), Binderholz GmbH (Germany), Forbo International SA (Switzerland), Interface Inc. (U.S.), and Owens Corning (U.S.).
Green Building Materials Product Outlook segmentation includes Interior, Structural, Exterior and Others. Based on Application, segmentation includes Framing, Insulation, Roofing, Exterior Siding, Interior Finishing and Others. North America holds the largest green building market share, due to the building codes and favorable policies promoting the usage of eco-structure in the construction industry, along with higher renovation activities. Infrastructure development in particular regions like United States and Canada, will have positive impact towards the market growth. According to Canada Green Building Council (CaGBC), Canada holds the first position at North America green building market in terms of revenue. Eco-structures in Canada have touched a significant milestone by reaching the digits over one billion square feet of LEED projects. Furthermore, government pushing their efforts towards various initiatives such as Net-Zero Homes (NZH) is driving the nation towards low-carbon footprint and escalation in green building construction industry.