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Green Building News

Market for Green Building Materials to Grow

A market research firm predicts 11% annual growth through 2017

Over the last ten years, the market for photovoltaic modules and related solar electric components has exploded.

Demand for green building materials will increase by 11% a year through 2017 to become a $86.6 billion industry, according to The Freedonia Group, a marketing research firm.

The green building materials industry will benefit from an increase in construction activity as well as more public interest in environmentally friendly materials. More builders and architects will look for certification under the Leadership in Energy and Environmental Design (LEED), the report predicted, boosting demand for such products as fly-ash concrete, sustainably harvested lumber, permeable pavement and Energy Star rated heating and cooling systems.

“Explosive growth”

“Solar power products saw explosive growth between 2002 and 2012, driven by increasing installation of rooftop-based solar power modules connected to electricity distribution systems,” an executive summary of the report says. “Going forward, favorable tax incentives and strong interest in the use of renewable energy sources will promote demand for LEED-eligible solar power products.” Sales of solar products will climb from $6.3 billion in 2012 to an estimated $9.4 billion in 2017.

Overall, the residential market will continue to be stronger than commercial green building, Freedonia said, accounting for $55.3 billion of the total by 2017.

If you’re interested in the fine print, you’ll have to order a full copy of the 400-page reportfrom Freedonia. The cost is $5,100.


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