ENERGY EFFICIENT MATERIAL MARKET ANALYSIS

Market Challenges And Opportunities

Furthermore, components of green building do not release harmful toxins in the atmosphere, which make it a more sustainable alternative to conventional manufacturing methods. The building sector is responsible for a considerable amount of global emissions, which are expected to increase if viable building techniques are not adopted over the next few years. Opting for green building practices such as using fiber glass, rock and slag wool material for insulation purposes can be highly favourable, as manufacturing these materials does not require energy, and its maintenance costs are also minimal. Such insulation methods can significantly reduce cooling and heating costs which currently account for around 40% of an average American family’s utility bill. Furthermore, rock, fibre glass and wool can be reused.

In addition to insulation, energy efficient materials find application in several processes such as cool roofing, lighting, home appliances, and building materials. Energy efficient alternatives are also cost effective which ultimately results in financial savings for the consumers. Factors such as reduction in energy demands, lower carbon footprint, and national resource security in some countries are expected to propel demand for energy efficient materials over the forecast period. However, stringent regulations by regional governments and environmental agencies regarding material stipulations and quality may hamper growth of the global energy efficient material market in some countries.