A new report predicts soaring growth in the green building market within the next few years. In fact, the study anticipates green building worldwide to double by 2018.
The study, entitled World Green Building Trends 2016, Developing Markets Accelerate Global Green Growth, was produced by Dodge Data & Analytics, in conjunction with United Technologies, Saint-Gobain and the U.S. Green Building Council. The survey included 1,026 building professionals across 69 countries around the world. These professionals included architects, engineers, contractors, consultants and building owners.
Among the study’s more interesting findings:
- The percentage of firms expecting to have more than 60% of their projects certified green is anticipated to nearly double from 17% currently to 33% by 2018.
- Over 40% of respondents in Saudi Arabia, Singapore and the US report that they will be doing green institutional building in the next three years.
- Three quarters (75%) of respondents are tracking metrics on the benefits of their green buildings, a 12 percentage-point jump over those doing so in 2012.
One of the main factors driving this trend is high customer demand. Client demand is now the top trigger driving future green activity, rising from 35% to 40%. Other factors pushing this green building growth are environmental regulations, market demand and compelling moral obligations.
There are also social and environmental reasons for favoring green buildings. The top choices cited by respondents included encouraging sustainable business practices, ability of green building to support the domestic economy, and conservation of water and other natural resources.
Of course, there are a number of challenges faced by those striving to increase green building activity. Survey respondents mentioned higher perceived costs as one of their top obstacles. This was followed by lack of public awareness, lack of political support/incentives and the perception that green building is only for high-end projects.
In the United States, more than 40% of the respondents also said they planned to do green retrofit projects in existing building, reinforcing the finding that green building isn’t limited only to new construction.
Green building tactics can include a variety of products and strategies. Among the most popular in this country right now is the use of spray foam materials for insulation and roofing purposes.
Contractors who want to perform any type of spray foam application jobs as part of their green building initiatives can find hydraulic sprayers, mobile spray rigs and all of the spray foam equipment they need at Intech Equipment & Supply.