Green Buildings Market Trends

• Growing Concern about the Environment- Most governments in the world are passing rules and regulations that require developers and contractors to use eco-friendly materials and solutions in their buildingss. This factor is a major driver of the growth of the green buildings market. As more and more people learn of the ecological benefits of sustainable construction, the market for environmentally friendly buildingss is increasing. This type of buildings uses less energy and water, generates lower waste, and has a smaller carbon footprint than traditional buildingss. The fact that the installation of solar equipment is highly economical, increases energy access and reduces carbon emissions can be taken into account. In addition, green buildingss can have beneficial effects on the health and well-being of those living in them. Compared to conventional buildingss, environmentally friendly buildingss can reduce energy consumption by 30% to 40%. A 20-30% reduction of water consumption can be achieved by green buildingss.
• Rising Awareness and Adoption of Green Buildings Materials- In the construction and buildings sector, around 3 billion tonnes of materials are consumed each year or 40 % of global consumption. On a worldwide level, the use of sustainable buildings materials and products leads to increased conservation of depleting non-renewable resources. In addition, the environmental impact of transport, extraction, processing, installation, manufacture, recycling or reuse of these construction industry feedstocks may be reduced by integrating sustainable buildings materials into design and construction projects. The growth of the market is expected to be driven by increased demand for these materials in construction and buildings activities.
• Growing Demand for Energy-Efficient Buildingss- Another driving factor for the green buildings market is an increase in demand for energy-efficient buildingss. An increasing demand for energy saving buildingss is triggered by the rising cost of energy and the need to become an independent source of energy. With a view to reducing energy consumption and minimizing waste, sustainable buildingss will lead to considerable cost savings on electricity bills.

Challenges

• Price Fluctuation will Impede Market Expansion- The green buildings market growth is expected to be restrained by fluctuations in materials prices, which are driven by their availability and increased demand from end-use industries. It is more expensive for these materials to be used in construction compared with conventional buildings materials. Depending on a number of factors, such as finish, fittings or designs, their costs may differ. The use of these materials results in a huge early investment cost, which is owned by the long-term benefits of eco-design buildingss. Moreover, construction activity in the residential sector is expected to be restricted due to a reduction in per capita income in some countries. This is likely to lead to a reduction in product adoption in the construction sector.
• The high initial cost of construction is one of the main market barriers to green buildingss.
• The growth of the market is expected to be hampered by obstacles in terms of the construction of environmentally friendly buildingss.