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Environmental News>

The global market for green building materials is projected to reach $529 billion in 2020.

2015-09-29

According to a recent report published by Global Industry Analysts, the global green building materials market is expected to reach $529 billion in 2020.

The practice of green building concepts stems from the use of environmentally friendly technologies and materials, such as insulation made from recycled denim or wool, recycled concrete, and green roofs made from environmentally friendly materials.

The expansion of the green building materials market and its growing public awareness are driven by the benefits of green technologies, stringent government regulations, rising energy costs, declining costs of green building materials, higher resale value of green buildings, and the increasing number of voluntary green building certification programs. The rising urgency for water and energy conservation, environmental health, and the risk of allergic respiratory infections among residents are also key factors driving market growth.

Continuous improvements in materials technology, changes in design and construction methods, and the increasing demand for improved production efficiency of mature products have all contributed to the growing popularity of green building materials in the market.

The report points out that Americans are the most receptive to and supportive of green practices, which is why the world's largest market for green building materials is located there. Increasing public acceptance and the long-term energy and health savings from green buildings far outweighing the initial investment are the most powerful drivers for voluntarily converting existing buildings into green buildings.

Sources: Environmental Leader (2014-09-22) (Compiled by PIDC)

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