Nationwide demand for green building materials is expected to increase 13% annually to create a $71.1 billion market in 2015, according to a forecast by the Freedonia Group. A number of green building products, including concrete made from recycled materials and green floor coverings, are expected to post gains of more than 10% in demand annually through 2015, the Cleveland-based research firm said.
In 2010, the green building materials market was listed at $38.7 billion, a 22% slide from 2005. The study, however, is predicting the industry will grow 84% over the next five years. Increased use of green materials in construction will support those gains, but the rebound in the construction market in the coming years is expected to be the most influential driver, Freedonia said.
The company predicted that concrete made from recycled contents will make the largest leap with an increase in value by $11 billion, at 24.3% annual growth, between 2010 and 2015, at which point it is predicted to be a $16.2 billion industry. These concrete products are considered valuable on an environmental level because they reduce the amount of waste sent to landfills, and the recycled materials actually improve the concrete's performance and strength.
In 2010, green floor coverings, which include Green Label Plus-certified carpets and flooring made from resources such as bamboo and cork, were the products most in demand. The $9.2 billion spent for those product last year adds up to almost a quarter of the green building material market.