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green building

Global Green Building Material Market to Reach $377,029 Million by 2022

green buildingThe green building and green building materials markets are growing, according to two recent reports.

The Green Building Materials Market Report, published by Allied Market Research, forecasts that the global market is expected to grow from $171,475 million in 2015 to $377,029 million by 2022, growing at a compound annual growth rate of 11.9 percent from 2016 to 2022.

Emission reduction potential of green building materials, higher asset value of green buildings, growth in public awareness regarding green materials, and increase in client and market demand are the major factors driving market growth.

In addition, reduced operating costs and enhanced worker productivity due to healthier indoor environment will add to market demand for green building materials.

A second report — this one a survey for the National Association of Home Builders/Wells Fargo Housing Market Index — finds that on average single-family builders use 10.2 different green products or practices, and 22 percent always or almost always have their homes certified to a green standard.

The NAHB’s Eye on Housing blog summarizes the survey and says 337 single-family builders responded to the questions. One asked if the builders if they commonly used any of 21 specific green products and practices (drawn from the major sections of the National Green Building Standard ) on homes they built during the past year.

Energy-efficient windows topped the list, commonly used by 95 percent of the builders, followed by high-efficiency HVAC systems at 92 percent. Builders on average commonly use 10.2 of the green products and practices on the list, the survey found.

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