Demand for green building materials is projected to expand 13.0% annually to $71.1 billion in 2015, according to a new study released by The Freedonia Group.
Freedonia said this increase will slightly outpace the growth of building construction expenditures over that period as green materials continue to account for an increasing share of materials used. While the rising use of green materials will support gains, the most important driver for demand will be the expected rebound in the construction market from low 2010 levels.
According to the study, Green Building Materials, green floor coverings, which include Green Label Plus-certified carpets and products made from rapidly renewable resources (e.g., bamboo and cork flooring), are the largest source of green building materials demand, accounting for nearly one-quarter of the total market in 2010. Demand for green floor coverings is projected to increase 11.7% annually through 2015. However, gains will not match the pace of the rest of the green building materials market, primarily because the majority of floor coverings (including essentially all carpeting products) are already green, limiting opportunities for greater market penetration, Freedonia said.
Meanwhile, demand for green doors and windows is expected to increase 12.4% and 8.0% respectively, says Freedonia Group's Green Building Materials study.
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