Green building or sustainable construction is mentioned to structures that are environmentally accountable and energy-efficient throughout its life cycle. Green building practices focus to decrease the environmental impact of a building. Most of the materials utilized in green buildings such as lumber, recycled metal, fiberglass, and mineral wool are renewable and non-toxic in nature. Green buildings utilize the onsite generation of renewable energy through biomass, solar power, hydropower and wind power. These performs make a building decrease its functioning energy usage.
Furthermore, low energy consumption appliances are utilized in green buildings to keep energy costs low. Most of the green building materials involving the cellulose and fiberglass are being utilized in green buildings due to their superior insulating properties. Approaches such as rainwater harvesting are implemented in green buildings to conserve decrease the wastage of water. Green buildings also seek to decrease the wastage of energy and materials thus decreasing the complete environmental impact. Green buildings are widely utilized for residential, commercial, and industrial determinations owing to their low functional costs, energy efficiency, and low carbon footprint.
According to the report analysis, ‘Malaysia Green Buildings Market Outlook to 2018 - Rising Energy Costs and Depleting Natural Resources to Drive Sustainable Development ‘states that Malaysia is a dynamic economy which has been developing constantly over the years. It is a middle-income country and has transmuted itself since 1970s from an introducer of raw materials into a auspicious multi-sector economy spurred by high technology, knowledge-based and capital rigorous industries. Malaysia's dependence on non-renewable source of energy is augmenting with the growing population and urbanization across the country. Malaysia, in identifying the issues of climate change and energy security, has taken the step to encourage the Green Technology (GT) as part of the solution. It is projected that the promotion of green technology would facilitate the accomplishment of Malaysia's commitment to assume an indicator of a voluntary deduction of up to 40% in terms of emissions intensity of GDP by the year 2020 compared to 2005 levels. Green technology will be one of the emerging drivers of economic growth for the country to accomplish the high-income status while addressing the imperative problem of the sustainability.
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With the effective growth in number of green certifications, the requirement for green materials has also surged. The market for green building materials across the Malaysia has heightened from USD ~ million in 2010 to USD ~ million during 2013. Due to the effective growth rate of urbanization, the realty sector is projected to observe a flourishing growth. The growing initiatives of the government in the field of green development will also deliver a robust impetus to the growth of green architecture in the country in the future. Consequently, the aim of green building construction is shifting from new building design and construction to greening prevailing buildings. Therefore, it is predicted that during the near period the market of green building will augment more proficiently over the assessed duration.
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Malaysia Green Building Market Revenue
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