Green materials market jumps
Published: 17 June, 2009
NEW YORK: NextGen Research estimates the global green building materials market will grow about 5% annually to reach £349bn by 2013, up from about £278bn last year.
NextGen predicts strong growth in greener cement, engineered wood and insulation products. Larry Fisher, research director for NextGen said: "Increasingly when people are forced to make a choice on which building materials to use, they are going toward the more environmentally responsible approach."
The study assessed the worldwide outlook for the use of greener building products, which the report defined as those having less of an environmental impact than standard building materials. Fisher said the drivers behind the trend were shifting attitudes among builders and consumers, government mandates, and the higher prices that green buildings often fetch on the market.
He believes the cost savings from recycling waste materials or the use of less energy-intensive manufacturing processes to making greener products often offset higher costs elsewhere in their production.
The NextGen report found that commercial office buildings, new residential buildings and home improvements would likely present the biggest opportunities in green building products. Fisher expects green materials to take an especially strong hold in commercial and residential refurbishment and improvement work.