Zion Research has published a report with a major takeaway: the green building materials market is set to reach $255 billion by 2020.
The full report, “Green Building Materials Market for Framing, Insulation, Roofing, Exterior Siding, Interior Finishing and Other Applications for Public Facilities, Education, Commercial and Industrial, Healthcare, R&D Centers, Residential and Other End-users – Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020”, can be found here.
One of the world’s fastest growing industries, the green building sector, valued at $127.5 billion in 2014, is projected to grow at a 12% compounded annual growth rate (CAGR) into 2020. Public facilities comprise a large segment of the global green building market at 20%.
Interior finishing is expected to experience the fastest growth rate during the coming years as the insulation segment accounted for an over 23% share of total green building materials volume consumed in 2014.
An increasing number of buildings seeking LEED certification along with other environmentally conscious rating systems has contributed towards this upward trend. As cost prohibitive green technology becomes increasingly more affordable (i.e. solar panels) expect this to further contribute to this continued growth.
For a more in depth summary of the report click here.