The green building materials market, valued $106.32 billion in 2012, is expected to reach $234.77 billion by 2019 at a CAGR of 12.5 percent during the 2013-2019 forecast period, according to a Transparency Market Research report.
Green Building Materials Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 – 2019 says the global green building materials market is driven by factors such a positive effect of green building on human health, government support, shift towards green building, and rising demand from construction industry.
The market, according to the application types, is segmented into framing, roofing, insulation, interior finishing, exterior siding, and others. Insulation application-segment was estimated as the largest segment with 21 percent of the total market share in 2012.
The rising demand for cellulose, cotton, fiberglass, and mineral wool for insulations is projected to show a healthy growth in near future. Rising demand for eco-friendly materials from manufacturers of green roofs is estimated to drive the growth for roofing application in the future. Increasing demand for volatile organic compounds (VOCs) free paints and glues and carpet tiles with recycled content is expected to drive the market for interior finishing. Farming applications market is estimated to grow due to rising demand for new non-conventional materials such as steel with recycled content, engineered lumber, autoclaved aerated concrete, and structural insulated panels during the forecast period.
Green buildings cost less to operate and have a smaller carbon footprint, according to the US General Services Administration.