by Rebecca Walker — June 15, 2009—A global economic crunch isn’t expected to dampen growth for green building, says a new report from NextGen Research. The report says office buildings will be the biggest non-residential target sector for green materials, the market for which is expected to reach $571 billion worldwide by 2013, up from $455.3 billion in 2008.
In the U.S., the market for green materials is expected to grow 7.2 percent annually to $80 billion by 2013, outpacing the growth in the construction industry generally, according to a March report from Cleveland, Ohio-based the Freedonia Group. That’s a faster pace than the 5.8% compound annual growth rate (CAGR) NextGen projects worldwide over the next four years.
NextGen’s report, titled “Green Building Materials: Making Cement, Insulation and Wood Products Increasingly Environmentally Friendly,” notes that green building has become “a global phenomenon, driving innovation in the products that are used and the buildings in which we live and work.
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