By Will Soutter
The slump in the sustainable building material manufacturing sector during the great depression has seen an impetus in recent years due to increased public awareness of environmental, cost and other issues.
Of late, governments have tightened construction guidelines and advocated the use of energy-efficient and sustainable materials, which has bolstered the progress of the Sustainable Building Material Manufacturing sector, according to Andrea Alegria, the market analyst of IBISWorld. Subsidized taxes and trimming operating costs have also contributed to this trajectory.
The Leadership in Energy and Environment Design (LEED)-approved buildings follow strict rules with respect to power and water saving, reduction in pollution through emissions, maintaining the environment in and around the buildings and the use of sustainable materials during construction.
According to Alegria, manufactured materials that are an imitation of stone, wood, etc. are more economical and easy to fix and service. Their near-authentic characteristics have increased their demand and the income of the industry, with an annual growth rate of 7.3%, is expected to touch 20.6 billion dollars by 2012 and a 30% spurt thereafter.
From 2012 to 2017, with an anticipated increased spate of construction activity, there will be a tremendous growth in the consumption of sustainable building products as stakeholders in the construction sector pay greater attention to environmental safety, reduced costs and power and water saving. Sustainable construction products are made from renewable (“green”) resources that can be recycled and are economical to fix and maintain besides using lesser power and water.