Green Building Materials Will Reach $254 Billion in Annual Market Value by 2020
Demand for green buildings, and the materials that go into them, has remained relatively buoyant during the global recession.
Future market growth for green buildings and the commensurate use of green materials will be driven by a combination of policies and regulations that prioritize energy efficiency and green design, the expansion of voluntary certification programs for green buildings, cost reductions for green materials, consumer demand, and growing evidence that green buildings confer quantifiable market advantages.
According to a new report from Navigant Research, the worldwide market for green construction materials will grow from $116 billion in 2013 to greater than $254 billion in 2020.
“Green building materials range from traditional materials that are being revalued for their minimal impacts to advanced technologies that are enabling better passive and active building performance,” says Eric Bloom, senior research analyst with Navigant Research. “Incremental improvements in materials science, production efficiency within mature product classes, and changes in design and construction practices are all helping to reduce the impacts from the buildings and materials sectors.”
The use of product standards and environmental assessments, along with product and company reporting, will be significant in shaping the green materials market. Though it can be argued that the current green product labeling landscape is overpopulated, a more select class of standards and tools is emerging, making environmental performance more measurable and more transparent, according to the report.
The report, “Materials in Green Buildings”, reviews the key market and regulatory trends that are contributing to the growing green building market, along with the commensurate growth in green building materials. Market forecasts, segmented by material element and material type and broken down by world region, are provided through 2020. The report includes profiles of more than 35 key industry players, along with detailed examinations of worldwide market drivers and barriers and technology issues.
An Executive Summary of the report is available for free download on the Navigant Research website.