High growth rate forecast for green building materials
Growing demand for structures with low greenhouse gas emissions is providing market growth.
The global green building materials market reached a value of $199.7 billion in 2017 and is expected to reach a value of $387.9 billion by 2023, according to a new report by Research and Markets.
The market is being fueled by a growing demand for structures with low greenhouse gas emissions. In addition, the reduced operational and maintenance costs provided by the construction of new green buildings due to less energy consumption is further stimulating the demand for these materials, Research and Markets said.
Over the past few years, Green Building Materials have been widely utilized in various construction activities as they reduce environmental impact associated with installation, transportation, fabrication, processing, disposal and recycling of building materials.
Green Building Materials refer to materials which enhance the sustainability and efficiency of a building structure in terms of design, construction, maintenance, and renovation. These materials are derived from renewable waste products and are highly energy efficient.
The most popular materials used in the construction of green buildings are bamboo, hempcrete, straw bales, mycelium, wood, rammed earth, timbercrete, grasscrete, and recycled plastic.
Also, the rising adoption of green buildings due to the increasing awareness pertaining to the health and environment hazards of carbon emission has resulted in fostering the growth of the market worldwide. Moreover, the favorable policies and initiatives offered by various governments, particularly in the developed nations, to encourage green construction is further giving growth to the market.
Looking ahead, the market is forecast to experience a compound annual growth rate of 11.7% between 2018 and 2023.
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Boise Cascade selling mills to Woodgrain Millwork
Woodgrain Millwork maintains operations at 18 locations in the United States.
Boise Cascade Company is selling its northeast Oregon lumber mills in Pilot Rock and La Grande and the particleboard operations in Island City to Woodgrain Millwork.
The transaction does not include Boise Cascade`s plywood mill or the powerhouse and log utilization center, based in Elgin, Ore.
Woodgrain is a manufacturer and supplier of moulding, door shop products, and window parts, headquartered in Idaho. Terms of the transaction were not disclosed.
“The sale to Woodgrain allows us to further focus on our veneer-based engineered wood products and plywood businesses,” said Mike Brown, senior vice president of operations, Boise Cascade Wood Products division. “Woodgrain is a family-owned company with a solid reputation in the industry. The products manufactured at these northeast Oregon facilities are a good fit with their business strategy.”
The deal is expected to close within 60 days, both companies said.
Woodgrain Millwork is based in Fruitland, Idaho and has operations at 18 locations around the United States in addition to a joint venture in Chile.
“Being a fully integrated company in each step of our supply chain has become one of our core strengths as a company,” said Kelly Dame, Woodgrain CEO. “Being able to grow the Woodgrain Lumber division is a key step in growing as a company. We are excited about the opportunity it offers.”
REPORT: A tale of two Craftsman brands
Stanley Black & Decker and Sears Holdings both have a version of Craftsman tools.
Last month Stanley Black & Decker revealed a re-energized line of Craftsman tool products.
The New Britain, Conn.-based tools, storage, and security manufacturer said the Craftsman brand had been languishing under its former owner – Sears Holdings Corporation – and it was time to put quality back into the product. About 1,200 new products are in the new launch including power tools, hand tools, outdoor power equipment, and tool storage products.
But when Stanley Black & Decker purchased the Craftsman brand last year, the $900 million deal allowed for Sears Holdings to continue manufacturing selling its own brand of Craftsman tools at Sears, Kmart, and Sears Hometown and Outlet stores.
According to a report by the Chicago Tribune there will now be competing Craftsman brands on the market.
And Sears claims it still has the largest assortment of Craftsman at any retailer while collecting royalties from Stanley Black & Decker for the next 15 years.
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