Without ignoring the fact that the COVID-19 pandemic has adversely
affected people’s lives around the globe, it is time for the fenestration
industry and green building community to look forward and ask what we can
accomplish now in this changed world.
The
pandemic reminded us that change is perpetual, pervasive, and exponential. In
fact, one global study says the pandemic has motivated 57% of companies to accelerate
their sustainable transformation plans.
Moreover,
research by the National Fenestration Rating Council (NFRC) shows this has led
to three trends likely to drive public interest in green building.
Newfound
Cooperation
As
the world recovers, it becomes increasingly apparent that the COVID-19 crisis
affected all the members of the green building community similarly, though with
varying intensity levels and in staggered waves.
Even
before COVID, we knew it could be challenging for any one organization to work
single-handedly toward a cause and win, and this commonality reveals that
drastic, transformative change is possible and has made us all more receptive
to forming new partnerships that provide leverage to
create a more energy-efficient future.
Additionally, design-build
professionals do not want to create a better version of the past. Instead, they
are embracing the value of collective action and seek to become better informed
by science so they can help facilitate a strong recovery with sustainability
taking center stage.
Increased
Demand for Healthier Homes and Buildings
The
accelerated pace of change has also increased demand for healthier homes and
buildings through improved indoor air quality. Accordingly, many home builders,
commercial real estate developers, and facilities managers view themselves as
the frontline caregivers.
Additionally,
market analysis shows facilitating employee health and
wellbeing (33%) will take precedence for companies throughout 2022, even ahead
of emissions reduction (30%). Moreover, investors cite employee health and
wellbeing as a priority, preceded only by assuring sustainable supply chains.
These
two factors can precipitate sweeping changes throughout the commercial and
residential real estate markets. Although many companies have become partially
or fully virtual, one study says that as of September 2021, new demand for office
space was at its highest level since the onset of the pandemic. In fact,
Chicago and Seattle are above pre-pandemic levels, while Los Angeles and New
York are hovering at over 95% of pre-pandemic levels.
While
balancing the demand for fresh air ventilation with the need to conserve energy
presents a challenge, it also positions the fenestration industry to develop
more innovative products. Studies tell us indoor environments that mimic
or allow access to the natural world can lower blood pressure and cortisol
levels, improve concentration, and strengthen the immune system.
Studies also show that compromised indoor air
quality exacerbates many diseases. In the U.S. alone, the cost attributed to “sick
building syndrome” in commercial workplaces is as high as $70 billion annually.
From this perspective, creating healthier structures is one of the most important
endeavors of our time.
Responsible
Consumption and Product Certification
Finally,
today’s post-pandemic shoppers want to consume more responsibly and seek assurance that
their purchases are sustainable.
Industry
analysis estimates the global energy-efficient windows
market will grow from USD 13.1 billion in 2021 to USD 18.3 billion by 2026 at a
Compound Annual Growth Rate (CAGR) of 7.0%. The commercial window market size
was estimated at USD 2.8 billion in 2019 and is expected to grow at a CAGR of
3.2% through 2027.
Moreover,
global demand for green building materials is expected to grow from
$238.91 billion in 2021 – driven mainly by the growing awareness about
environmental sustainability – to $383.85 billion in 2025.
Turning
to consumer attitudes and behaviors driving this trend, 73%
of consumers want to change their consumption habits to reduce their
environmental impact, and 85% think about sustainability more than they did before
the COVID-19 pandemic.
Additionally,
most Millennials (75%) are willing to pay more for an environmentally
sustainable product, compared to 63% of Gen Z, 64% of Gen X, and 57% of
Boomers. Additionally, 77% of Americans are concerned about the environmental
impact of products they purchase.
Furthermore,
one study says 64% of Americans are willing to pay more for
sustainable products, but most (74%) do not know how to identify them.
The
same study showed 78% of Americans are more likely to purchase a product that
is clearly labeled as environmentally friendly or energy efficient and that 53%
of Americans have doubts about companies’ sustainability claims. Finally, 45%
say they need a third-party validating source to trust such claims fully.
Conclusion
The inflection point that resulted from the pandemic
has created a blank canvas for novel solutions and approaches throughout the fenestration
and green building industries. As society is reshaped, and the economy
relaunched, we all have a role to play in creating better homes and buildings and
helping society overcome the existential threats of climate change.