OYSTER BAY, N.Y.—Green building has become a global phenomenon, driving innovation in the products that are used and the buildings in which we live and work. What started with a handful of government buildings utilizing first-generation sustainable building products is now a worldwide movement, with commercial construction and residential building moving to the fore in sustainability. Voluntary standards and government mandates are driving growth in green building, as awareness of environmental issues has increased in developed and developing countries.
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 compound annual growth rate of nearly 5 percent to reach $571 billion by 2013.
“The construction industry has an immense impact on the environment, so green building products are a key market within the global environmental movement,” says Larry Fisher, research director of NextGen Research. “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. In the United States, buildings account for 38 percent of all CO2 emissions, use 13.6 percent of all potable water, and consume 72 percent 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.”
Where Growth Opportunities Exist
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. Click here for more information.
