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 Report for More Info:
Construction Chemical Additives Market:
http://industryarc.com/Report/7511/construction-chemical-additives-market.html
