U.S. Demand for Green Building Materials to Reach $86.6 Billion
Through 2017, a rebound in construction activity will propel growth in green building materials demand 11% annually to $86.6 billion, according to 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 reportedly increase the market share of most green building materials relative to non-green alternatives. Growth in residential construction is expected to promote base demand for such products as carpeting, gypsum board, concrete, and metal building products, while products that contribute to the earning of LEED certification will see an additional boost in sales.
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. Residential HVAC systems, concrete made with fly ash, and lumber harvested in a sustainable manner can all contribute to LEED certification, and all are forecast to see above-average gains in demand.
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.
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