Green building market predicted to grow by 13% by 2020

Green building market predicted to grow by 13% by 2020

According to a recent report from Research and Markets,the global green building market is anticipated to grow at a CAGR of around 13% during 2015-2020. The data was attributed, in part, because of the rising awareness of global green issues (such as climate change), and improved knowledge of green building techniques.

Green building market predicted to grow by 13% by 2020
Green building market predicted to grow by 13% by 2020

Other reasons for growth in the green building market includes green legislation, increased awareness of energy efficiency, and cost-effectiveness. Leading global players include BASF, DuPont, Owens Corning, PPG Industries, Saint Gobain, Lafarge, Kingspan, Forbo Intenational, Interface and Alumasc Group.

Though the US has the biggest market for green building construction, developing economies in Asia-Pacific are also showing significant growth in this sector, according to the report.