Greentech Lead America: Through 2017, a rebound in construction activity, combined with continuing consumer interest in environmentally friendly products, will propel US growth in green building materials demand 11 percent annually to $86.6 billion, says Global Information (GII).
Regulatory instruments, governmental initiatives and financial support mechanisms, together with growing consumer awareness and expectations, all put pressure on construction market participants to adopt more green practices.
US construction activity declined sharply during much of the 2007-2012 period, but demand for green building materials held its own, boosted by consumer interest in products that could reduce utility bills or promote environmentally friendly construction practices.
For instance, homeowners installed ENERGY STARcertified windows and heating, ventilation, and air conditioning (HVAC) systems to lower energy costs and reduce energy consumption. Gains in residential construction will promote demand for such products as carpeting, gypsum board, concrete, and metal building products.
“Green Building Materials”, a new report by The Freedonia Group, forecasts that recycled concrete, ENERGY STAR compliant HVAC systems, and permeable pavements will register above average gains through 2017.
Demand for green building systems will be fueled by strong residential demand for ENERGY STARcompliant HVAC systems that lower utility bills. Permeable pavement demand will be supported by interest in reducing water runoff and minimizing strains on older sewer and water systems.
The total value of certified green construction worldwide in 2011 was estimated at nearly $70 billion.
According to “Green Building Materials and Construction” a report by SBI Energy, the market is anticipated to reach almost $150 billion by 2016, and $294 billion by 2021.
Buildings consume the majority of the world’s energy and are responsible for a majority of the anthropogenic carbon dioxide emissions. Â Adopting building energy management systems and using an automated approach to control energy consumption reduces costs and also makes it more convenient to make buildings more energy efficient.
“Global Building Automation & Controls Market (2013 – 2018)”, a new report by Markets and Markets, expects the total building automation and controls market to reach $49.5 billion by 2018. Stringent regulations being imposed by the governments augmented by the increasing need to save operational costs by building owners has enhanced the demand for building.