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The
construction industry is a colossal industry which forms a base for the
urbanization of any country. Green construction is the new trend and is cost
effective. Around the globe, construction is one of the few markets which
showcase a positive growth rate, irrespective of the various factors which
generally hinder the growth of the economy. According to a recent report by
Federation of Indian Chambers of Commerce and Industries (FICCI), the
construction market in developing countries is forecast to rise by 36%, for the
year ending 2015. Among the emerging and developing economies, China and India
are noted as growth frontiers for the construction sector.
Worldwide
there is a trend of increasing urbanization and formation of mega-cities.
Rising standards of living and aging demography have a direct impact on the way
we build, which demands high quality and precision in construction work.
Innovation is a key driver for this segment. The major concern for the majority
of the population is the environmental issues created by this sector. Across the world, residential construction
marks the highest growth rate. With the increase in the environmental problems
caused by the usage of various construction chemicals and with increasing
awareness, general public and builders have started switching towards green
construction which deals with constructing a building using environmentally
friendly materials form the beginning till the end, throughout the building
cycle.
According
to McGraw Hill Construction, up to 48% of new nonresidential construction
projects will be green in the near future. For instance, Qatar holds 16% in the
total number of green buildings constructed in the gulf. According to the
engineers there, green construction would become mandatory within a span of 2
years. Sooner or later all the companies will enter this market because it is
the new looming trend. Only constraining factor for the growth of this
technique is the availability of water and energy for the construction of new
building. Though the scarcity of water can be met through recycling of waste
water, energy still continues to be the major concern hindering the growth of
this technique.
The
formation of regulatory bodies and stricter amendments would improve the growth
of this technique. Currently, Leadership in Energy and Environmental
Design (LEED) is the regulatory body, developed by U.S green building
council, takes care of the design, construction, operation and maintenance of
green buildings. Going forward, soon the goal of green building would be met.
Related
Reports:
- Construction Chemical
Additives Market: By Type (Plasticizers, Super Plasticizers, Air Entraining
Agents, Water Proofing Agents, Leveling Agents and Sealants); By Application
(Residential, Non-Residential, Infrastructure, Renovation Construction); By
Geography - Forecast (2015-2020) https://www.industryarc.com/Report/7511/construction-chemical-additives-market.html