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U.S. Green Building Materials Market to Top $80 Billion

Thursday, March 12, 2009

The U.S. market for “green” building materials—$57 billion in 2008—is expected to expand by 7.2 percent annually to more than $80 billion in 2013, outpacing the growth of other building construction expenditures. The growth will be driven primarily by the recovery of the residential market, according to The Freedonia Group Inc., a Cleveland-based industry research firm.

These and other trends are presented in a new study, Green Building Materials, by Freedonia.

Forest Stewardship Council (FSC)-certified lumber and wood panels are expected to be the fastest-growing green products, albeit from small bases. FSC-certified products are produced via environmentally responsible and socially beneficial forestry practices. 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.

Other products expected to see fast growth through 2013 include water-efficient plumbing fixtures and fittings and energy-efficient lighting fixtures. Demand for these products is forecast to grow at a double-digit pace through 2013, but account for only a small share of total green building materials market.

The greatest absolute gains will come from green floor coverings, the largest source of green building materials demand. Green carpets and flooring include Green Label Plus-certified carpets and products made from rapidly renewable resources (e.g., bamboo and cork flooring).

Concrete made from fly ash, blast furnace slag and other recycled materials accounted for the second-largest share of green building materials demand in 2008—more than 15 percent of the market total. The use of recycled materials in concrete not only reduces the volume of waste sent to landfills, but often enhances the performance of the concrete.

Going forward, demand for concrete made from recycled materials is forecast to grow 8.4 percent per year to $14.3 billion in 2013, accounting for an increasing share of total concrete used.

For more information, www.freedoniagroup.com.