US Demand for Green Building Materials to Reach $86.6 Billion in 2017March 5th, 2013 | Category: Industry News, Latest From E-Green
While green building already has experienced tremendous growth, even more of an increase will occur in the next five years according to a new report. Through 2017, a rebound in construction activity will propel growth in green building materials demand 11 percent annually to $86.6 billion, according to Green Building Materials, a new study from The Freedonia Group Inc.
In addition to the lift supplied by general construction activity, continuing consumer interest in environmentally friendly products will increase the market share of most green building materials relative to non-green alternatives.
Over the forecast period, builders and architects will increasingly opt to earn high levels of LEED certification by specifying the use of materials that earn LEED points, according to the study.
Additionally, solar power products saw explosive growth between 2002 and 2012, driven by increasing installation of rooftop-based solar power modules connected to electricity distribution systems. Going forward, favorable tax incentives and strong interest in the use of renewable energy sources will promote demand for LEED-eligible solar power products.