Green Initiatives in U.S. Businesses Expected to Grow Tremendously Over Next 5 Years
According to a report issued by the Freedonia Group Green Building Materials, green building materials will experience a greater rise in demand between now and 2017 than traditional building materials. The rebounding economy is spurring the overall growth of the construction and building materials industries, but consumer awareness of environmentally responsible alternatives, renewable energy sources, and the effectiveness of green policies is swaying the trend toward greener alternatives.
Further driving the trend towards green building materials is tax incentives offered by the government, rewarding companies for environmentally conscious building policies. Some of the green materials expected to be in high demand between now and the year 2017 include green carpeting alternatives, gypsum board, recycled concrete, and other products that meet the requirements for LEED certification.
Solar powered products are in particularly high demand, exploding in growth between 2002 and 2012, and expected to continue. The report predicts the green building materials industry to increase 11 percent annually, reaching $86.6 billion by 2017. Many of the products, such as recycled concrete, actually performs better and costs less than the traditional cement mixture with additives. Recycled concrete is made of fly ash with additives.
Other green building products expected to be in high demand are Energy Star certified HVAC units and permeable pavement products. There is an expectation that all building materials will be in higher demand as the economy rebounds and companies once again begin investing in expansions and renovations. However, the report indicates that green building materials will overshadow the growth of traditional building supplies.
The number of U.S. companies with green building policies already in place grew 54 percent in the year 2010 and has increased ever year since. The Freedonia Group is a firm specializing in industry market research and publishes more than 100 reports each year.
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