E ditor’s Page
Green building market
continues to grow
This month Coatings World for the first time explores the world of
green building—one of the hottest trends happening now—and
how paint companies and raw material suppliers are responding
to the green wave of the future.
A recent survey showed that more than 70% of the architects, engineers, contractors and building owners interviewed expect a significant
increase in their income from green building. Of those surveyed, some
60% of those industry professionals are now regularly including green
techniques in their new construction projects.
In 2006 McGraw-Hill Construction projected that by 2010, between
five to ten percent of new non-residential construction starts will be
designed using the principles of green building.
The residential green building market, which has been slower to
grow versus the commercial sector, is expected to be worth $12-20 billion representing six to ten percent of the market this year. That’s up
from just two percent in 2005. By 2012 the market is expected to double to 12-20% market share or $40-70 billion.
Green building is no longer simply a fad or trend, but is becoming the
norm as evidenced by the enactment of recent legislation at the state and
federal level. In July 2008, California became the first state in the nation
to adopt a green building code for all new construction. The California
Building Standards Commission adopted the California Green Building
Standards Code, which will be voluntary until 2010, when its provisions
are expected to become mandatory.
The U.S. Government is also offering up incentives for building owners
to “go green” in the form of tax deductions. On Oct. 3 President Bush
extended through 2013 the Energy Efficient Commercial Building Tax
Deduction—a deduction for commercial building owners whose buildings
meet certain energy standards. The deduction is as much as $1.80 per
square foot for buildings that achieve a 50% energy savings target.
While in the overall green building scheme paint and coatings play a
relatively minor roll—they account for just one point in the LEED rating
system and total a mere one percent of a new buildings total cost—they
do contribute to indoor air quality and for that reason, particularly in
schools and hospitals, green coatings technology is a vital component to
the market moving forward.
TWRIGHT@RODPUB.COM
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