Despite the Economic Downturn, the Market for Green Building Materials will grow to $571 billion by 2013
Green building has become a global phenomenon, driving innovation in the products that are used and the buildings in which we live and work. The global green building materials market continues to grow, despite the global economic downturn. The worldwide green building materials market was valued at $455.3 billion in 2008, and NextGen Research, in its new report "Green Building Materials: Making Cement, Insulation and Wood Products Increasingly Environmentally Friendly" forecasts the market will grow at a CAGR of nearly 5% to reach $571 billion by 2013.
Says Larry Fisher, research director of NextGen Research, "The construction industry has an immense impact on the environment, so green building products are a key market within the global environmental movement. After all, buildings are one of the heaviest consumers of natural resources and account for a significant portion of the greenhouse gas emissions that affect climate change."
Mr. Fisher explains, "In the US, buildings account for 38% of all CO2 emissions, use 13.6% of all potable water, and consume 72% of all electrical power generation. Commercial and residential developers need to assess the total life cycle of all the building products and materials they utilize, as they can have a substantial, lasting effect on the environment."
Commercial office buildings will be the largest non-residential target sector for green building products over the forecast period, according to the study, which also found that both the new residential building and home improvement sectors present significant opportunities for green building products manufacturers.
The Green Building Materials study assesses the outlook for the use of greener materials in construction, worldwide and by major global region. Specific categories of building materials analyzed include cement, engineered wood, and insulation products.
NextGen Research is the emerging technology arm of ABI Research. NextGen Research informs clients of the outlook for applications currently in use and the opportunities presented by new technologies, so they can make sound business decisions. For more information, please visit www.nextgenresearch.com, or call +1.516.624.2526.