Asia Pacific Green Building Market to register a significant growth by 2023
Posted by Mayur Yeole on February 16th, 2021
The global green building market is predicted to develop at a 10.26% CAGR between 2018- 2023, states the recent Market Research Future (MRFR) analysis. Green building is made of materials that improve the efficiency and sustainability of the structure of a building with regards to renovation, maintenance, construction, and design.
Various factors are propelling the global green building market share. As per the current MRFR report, such factors include the rising environmental concerns, strict government regulations, demand in the industrial sector for its low maintenance and operational costs, growing need for energy-efficient technologies, and rising preference in commercial & residential buildings.
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By products, the global green building market is segmented into exterior and interior products. Of these, the exterior products segment will lead the market over the forecast period for its increasing use in the construction sector owing to its excellent properties such as low maintenance, low operation cost, energy efficiency, durability, & no waste reduction in comparison to traditional construction methods.
By application, the global green building market is segmented into non-residential and residential. Of these, the residential segment will dominate the market over the forecast period for the growing concerns about the rising energy prices, accelerating climate change, storm water runoff polluting rivers and lakes, and the negative effect on the health of traditional building materials.
Based on the region, the global green building market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, and the Middle East and Africa (MEA). Of these, North America will dominate the market over the forecast period. Rising environmental awareness, technological superiority, high-quality construction, low environmental impact, the need to make healthy indoors with less pollution, and growing demand for sustainable materials in construction are adding to the global green building market growth in the region. Besides, improved standard of living, demand for better-performing buildings, lower operating costs, rising sustainable business practice, and constant measuring & tracking of building activities are also adding market growth. The US holds the utmost share in the market.
The global green building market in Europe is predicted to have the second-largest share over the forecast period. Availability of technical expertise, strict government regulations, rapid climatic changes, aim for zero energy building emission, low operating cost, low payback period, and favorable government policies are adding to the global green building market growth in the region.
The global green building market in the APAC region is predicted to have healthy growth over the forecast period. Rapid industrialization, growing population, rising environmental concerns, measures to promote clean energy, rising research and development activities, and environmental regulations for supporting health building, reducing pollution, and energy conservation are adding to the global green building market growth in the region.
The global green building market in the MEA is predicted to have sound growth over the forecast period for the growing need for green buildings for the region’s extreme climate conditions.
Eminent players profiled in the global green building materials market report include Weinerberger AG (Austria), Green Build Products (I) Pvt Ltd (India), Green Building Store (U.K.), E. I. du Pont de Nemours and Company (U.S.), SGS (Switzerland), Saint Gobain S.A. (Germany), Ginkgo Sustainability (Canada), Kingspan Group plc (Ireland), Bauder Limited (U.K.), and NATiVE (U.S.).
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About the AuthorMayur Yeole
Joined: February 8th, 2021
Articles Posted: 565
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