The Global Market For Green Building Materials Market to Reach $406 Billion by 2015
The world market for green building materials is expected to reach $406 billion by the year 2015. This growth will be fueled primarily by increased awareness of environmental concerns worldwide, high-energy costs, awareness of well-being and productivity benefits of green buildings, and decreasing costs of green building materials. The green building concept is set to become a global phenomenon, transforming from a niche arena to a mainstream concept. Green buildings are transforming the construction industry landscape, including both residential and commercial sectors. Owing to increased awareness of environmental concerns the world over, government mandates and voluntary standards are driving the growth of green buildings, and in parallel the demand for green building materials. Green floorings represent the largest and fastest growing green building materials in the US, followed by green concrete and green roofs. Green floor coverings are eco-friendly green building products that are made from a variety of materials, such as cork, carpet, bamboo, linoleum, ceramic tile, and hardwood. In addition, the practice of planted green roofs, is gaining momentum in several cities in the US. In terms of end-use markets, residential sector constitutes the largest market for green building materials, while non-residential sector represents the fastest growing market.
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