In a new report from Allied Market Research, the firm shows significant market growth for green building materials over the next five years.
According to the Environmental Leader, the “Green Building Materials Market Report” forecasts that the global market is expected to grow from $171,475 million in 2015 to $377,029 million by 2022, growing at a compound annual growth rate of 11.9 percent from 2016 to 2022.
The report also shows that the emission reduction potential of green building materials, higher asset value of green buildings, growth in public awareness regarding green materials, and increase in client and market demand are the major factors that will drive market growth.
With reduced operating costs and a better indoor working environment, the report states that those factors will add to market demand for green building materials.
As Daily Business News readers are already aware, the manufactured and modular housing industries have long shown the significant upside of factory built housing, including lower costs, a more consistent product and strict federal standards.
Factory-built homes are becoming more popular in the housing industry as builders face a shortage of construction workers. Among the upscale modular homes covered, includes the work done by Revolution PreCrafted Homes, where Eric Trump sits on the board of directors. In a survey from the National Association of Home Builders (NAHB), the NAHB/Wells Fargo Housing Market Index reported that on average, single-family homebuilders use 10.2 different green products or practices, and 22 percent always or almost always have their homes certified to a green standard.
For more on the green building movement, including Karen Adams, President and CEO of Green Dwellings in Palm Beach, Florida aiming to be the Tesla of modular green homes, click here. ##
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Submitted by RC Williams to the Daily Business News for MHProNews.