Demand for green building products--buoyed by increased availability, environmental concerns, stricter building codes, and a rebounding construction industry--is expected to increase by 13% annually to create a $71 billion market in 2015, states to a forecast by the Freedonia Group, a Cleveland-based research firm.
According to the study, concrete made from recycled materials is expected to soar by 24% annually between 2010 and 2015. Meanwhile, green floor coverings, which include Green Label Plus-certified carpets and products made from fast-growing natural resources such as bamboo and cork, are expected to grow by nearly 12% annually through 2015. The study predicts, however, that flooring will not grow at the same pace as some other green building materials, in part because many flooring products already are considered green.
Through 2015, sustainable doors are predicted to increase by 12% annually, green windows will grow by 8% each year, and insulation and other green building products will jump 14% annually, the Freedonia Group study says. Nevertheless, green roofing materials will see the smallest annual growth (4.1%).
Brendan Rimetz is assistant editor for ProSales.