The world recently witnessed the devastation hurricane Irma and hurricane Maria brought with them. Such unpredictable and changing patterns in the natural environment have shifted the focus of the countries and their governments from development to sustainable development. The focus of most of the nations has also turned to their infrastructures, which are one way or the other taking a toll on the environment, especially in developing countries.
Construction segment is a part and participle of a country’s economy as the level of development also gets reflected in a country’s infrastructure. Infrastructure has long been a scale to measure the degree of development and sophistication a civilization held. The Neolithic architecture in the Levant, Anatolia, Syria, northern Mesopotamia and Central Asia regions are taught to us as brilliant specimens of architecture and construction. The advent of technological era and subsequent development in the technical fields have transformed the construction methods, materials, and processes significantly. However, during this development, the humankind somehow utilized the nature to its fullest, sans the thought of consequences.
The construction industry earlier used conventional materials such as clay bricks, aluminum, Ordinary Portland Cement (OPC), paints containing volatile organic compounds (VOCs), pine wood, bricks, and concrete, among others, which have harmed the environment on a large scale. The construction industry accounts for more than 30% of all the global emission sources. Thus, the sustainable materials, with their unique properties such as environmental benefits, emission reduction, less energy consumption, and potential to be recycled and reuse, are being preferred currently by the construction industry. From insulation, roofing, framing, and interior finishing, to exterior siding for residential and non-residential purposes, sustainable materials are being used for a varied range of applications.
These sustainable materials require less use of natural resources and increase the reusability of such materials and products for the same or similar purpose, which, as a result, reduces waste. Sustainable construction also reinforces the resilience of the industry as such materials are available in the market globally. The global construction sustainable materials market is experiencing a strong growth owing to the superior properties of sustainable materials over conventional materials, climate change and global warming, stringent environmental regulations by government, increasing sustainability goals, and growing environmental assessment methods in the end-user industry.
Stringent government regulations across different countries mandate the reduction of emissions and the following of certification systems for the construction of new buildings. This has created a pool of opportunities for the construction sustainable materials market. Emerging economies such as India and China are focusing on infrastructural development with the increasing urbanization. Thus, these economies play an important role in the development and growth of this market. The market was valued at $175.00 billion in 2016 and is expected to grow at a CAGR of 11.6% between 2017 and 2026.
BIS Research has conducted an extensive market research on ‘Global Construction Sustainable Materials Market- Analysis & Forecasts- 2017 to 2026‘. The market intelligence report aims at providing an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which include drivers, restraints, and opportunities prevailing in the industry.
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