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.
- 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