Despite lukewarm shopping during this past Holiday Season (which our research predicted), many experts foresee a healthy economy in 2016 for most sectors. One such sector is the construction industry—also tagged with many other predictions. The crystal balls are out early this year, perhaps more than wrecking balls. Who knows which divinations will come true?
There is, however, one pervasive forecast in the construction industry, beyond that of a healthy economic year:
Green is here.
The market research statistics certainly agree. The market for green building materials reached $43.8 billion in 2014, and is expected to grow nearly ten percent in 2016. Approximately 69% of builders and 78% of remodelers feel that customers will pay more for green. Furthermore, the average green share of building is 48% while non-green is 52%.
What is a green construction, though? Varied classifications exist—from energy-sustainability to recycling-capabilities—but in short a green construction is defined as a construction that is either certified under any recognized global green rating system or built to qualify for certification.
Onto a few predictions of this greener brave new world, that like the Holiday Season shopping, agrees with our data.
Construction Dive writes:
Commercial construction has typically led the pack in green adoption, but the residential sector is starting to catch up. The growing trend in both sectors is driven not just by a desire to produce environmentally friendly structures, but by consumer demand, higher-quality results and lifecycle cost savings, according to experts at Greenbuild 2015.
The Market Research Blog agrees, stating:
Consumers want green materials that offer eco-friendly, low energy use, and sustainable products to make their homes, offices, and environment healthier.
Construction Monitor jumps on the green bandwagon for 2016, saying:
Many construction clients are urging (or requiring) builders and contractors to use recycled materials or proven sustainable materials that can be easily renewed. Interest is growing in sustainability factors such as zero-energy homes that produce all the energy used within the home. Energy conservation is also becoming more popular.
In a large constellation of predictions, Builder as well puts green as one of the major construction trends in 2016.
And on and on, if you adventure into Google…or several construction periodicals and internet groups that we regularly frequent.
The green construction trend is not that surprising, though, and is key for marketers laboring to understand homebuyer consumer tendencies. After all, our research reveals that environmentally-conscious purchasing is on the rise. Moreover, in our study Why Consumers Buy Green, qSample found that 64% of consumers are concerned with the environment, while 76% consider the environment when making shopping decisions.
Between expert predictions, temperate statistics, and the research from our premium contractor panel, it’s obvious green is a central drift in 2016 for construction and purchasing property. Those who ignore will be green, indeed, but with envy when they are left behind by those following the market research tealeaves.