Thursday, August 29, 2013
Green Construction Materials Become More Affordable as Demand Increases
As green construction is on the rise, so is the global demand for green construction materials. A report by Navigant Research shows that the market for green construction materials will grow to $116 billion this year. By 2020, it will be greater than $254 billion, with Europe accounting for 50% of the market.
Today, more governments are subsidizing efficient buildings and building codes. Realizing the benefits of green construction, virtually every building wants to get certified.
New advancements in terms of techniques and energy savings have also been discovered, while traditional materials that are good for the environment are now in demand. Timber structures, steel, lime renders and mortars, cellulose insulation, fiber floor coverings, prefabricated materials, and natural mineral are re-emerging and finding relevance in modern construction.
Advanced production technology has also resulted in the rise of new green building materials, particularly in the fields of photovoltaics, heat exchange systems, thermochromic and electrochromic glass and window. These innovations, along with the re-emergence of traditional eco-building materials, have made green construction a lot more affordable.
Governments are also zooming in on green construction. Finland recently put into effect stricter standards for sustainable construction and energy efficiency, which must be complied with by new buildings and renovation projects. Some countries have realized the value of green construction far earlier like Germany, which has subsidized green buildings as far back as 1980s.
In the US, green construction is also taken seriously. Several government buildings across the country are being retrofitted, with most of its occupants reporting a better disposition and attitude towards work. Even the private sector recognizes the value of green construction, as venture capitalists have invested around $465 million all in all—just for the first nine months of 2009. Hotel owners have also taken the lead, as 48% reported that they are “highly involved” in the matter of green construction.