Green Building Materials ‘$254bn Annual Market by 2020′
Materials in Green Buildings says demand for green buildings, and the materials that go into them, has remained relatively buoyant during the global recession. Future market growth for green buildings and the use of green materials will be driven by a combination of policies and regulations that prioritize energy efficiency and green design, the expansion of voluntary certification programs for green buildings, cost reductions for green materials, consumer demand, and growing evidence that green buildings confer quantifiable market advantages.
The report says the use of environmental product standards and lifecycle assessments, along with product and company reporting, will be significant in shaping the green materials market.
Though it can be argued that the current green product labeling landscape is overpopulated, a more select class of standards and tools is emerging, making environmental performance more measurable and more transparent, according to the report. For example, increasing use of environmental product declarations, supported by LEED and BREEAM, will help clarify benefits and make selecting green products easier, it says.
Construction companies worldwide are shifting their business toward green building, with 51 percent of respondents to a survey by research firmÂ McGraw-Hill Construction saying theyÂ expect more than 60 percent of their work to be green by 2015. This is a significant increase from the 28 percent that said the same for their work in 2013 and the 13 percent in 2008, according to the companyâsÂ latest SmartMarket Report, published in March.
Last month, BASF launched a sustainable construction website, which the company says can help contractors, developers, architects and other building professionals improve water and resource efficiency and indoor air quality, among other sustainable construction challenges.
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