Report from The Freedonia Group projects rapid growth in demand for FSC-certified wood panels and other green building categories.
By Katy Tomasulo
A report released by research firm The Freedonia Group estimates the U.S. market for green building materials will exceed $80 billion by 2013, with a predicted 7.2% annual increase from $57 billion in 2008. Much of the growth, however, will be driven primarily by the overall recovery of the residential market, according to a statement.
The report states that FSC-certified lumber and wood panels will be the fastest-growing segment of the green products market, more than tripling in the next four years. Water-efficient and energy-efficient fixtures will undergo double-digit growth. These three categories, however, represent small shares of the market.
Green floor coverings, which include Green Label Plus-certified carpet and flooring made from rapidly renewable materials, has a slower anticipated growth rate of 5.6% annually, but maintains the largest share of the green building products market overall. Another large category, concrete made from recycled materials, is expected to grow 8.4% per year.
Windows will grow at a significantly faster pace – 14% annually – compared to the category’s previous five years’ growth of 0.5% annually.
Overall, the green building materials market grew 45% between 2003 and 2008, from $39.2 billion.
This article was originally published by EcoHome magazine.