CLEVELAND – The U.S. market for “green” building materials is expected to expand 7.2% annually to more than $80 billion in 2013, outpacing the growth of building construction expenditures over that period.
According to the Freedonia Group Inc., an industry research firm, U.S. demand for green building products reached nearly $57 billion in 2008.
Although green building materials are expected to account for an increasing share of materials used, growth will be driven primarily by the recovery of the residential market through 2013 as it rises from its depressed 2008 level, reports Freedonia in its new study, Green Building Materials.
Forest Stewardship Council (FSC)-certified lumber and wood panels are expected to be the fastest growing green products. As the supply of FSC-certified wood grows, demand for FSC-certified wood panels is projected to more than triple between 2008 and 2013, growing more than three times as fast as the overall market for wood panels, Freedonia adds.
Other products expected to see fast growth through 2013 include water-efficient plumbing fixtures and fittings and energy-efficient lighting fixtures.
|U.S. Green Building Materials Demand (billion dollars)|
|2008||2013||Avg. Annual Increase|
|Source: Freedonia Group’s Green Building Materials study|
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