As green technology develops and becomes more feasible by the year, it is being incorporated into business across the board, from construction to residential use. Environmentally conscious appliances, work practices, building materials, recycling and refurbishing programs, and health initiatives are steadily becoming more available and comprehensive.
The environmentally friendly building market alone is estimated at an annual worth of $30 to $40 billion with an expected increase to over $60 billion in the short term. Corporations, real estate holding companies, and developers are undertaking Earth friendly renovation and revitalization programs in order to make their portfolios green. The market is there and the potential for profitability is stronger than ever.
Green is an easy catchphrase to get behind, but there are many details and specifics that have to be understood to fully leverage this market and meet compliance guidelines. The first step in understanding what this means is to delve into environmentally safe industrial products.
Identifying Green Industrial manufacturing process specification Products
There are many ways for industrial equipment supplies to be classified as green. The definition has expanded to include many methods for reducing the environmental impact and increasing life cycles. Whereas green once was only thought of as recycled materials, today, there a wide range of options available.
Any type of resource efficiency is part of environmentally friendly industrial products. This covers much more than just recycled content to include salvaged materials from demolitions, refurbished systems or components, or reusable parts from a non-functioning unit. The use of natural and renewable resources also plays a heavy part in an environmentally conscious product. Locally used materials, even if they are not themselves environmentally friendly, can be considered resource efficient if they are locally available since this fact cuts down on transportation costs and emissions. The manufacturing process can also impact a product’s designation by using methods that are energy efficient, that minimize waste, or have reduced greenhouse gas emissions. Even durable industrial products that have a greatly extended lifecycle can fall under this category.
Energy efficiency in a finished product is also a key component of green initiatives. Since buildings account for over a third of the Unites States’ energy use and source of CO2 emissions, efficient industrial machine parts appliances and tools can have a great impact. Low flow appliances that conserve water are also great tools for reducing the 15 trillion gallons of water usage by buildings every year.
Another avenue for environmentally friendly products is one that focuses on air quality. Materials that are low emission and non-toxic reduce the release of greenhouse gases and other dangerous vapors from solvents and resins. Low VOC compounds and epoxies are in this same category as well. Even moisture resistant building materials that inhibit the growth of mold contribute to overall indoor air quality.
The Value Gained From Green Industrial Equipment Supplies
While common knowledge says that all of these green industrial products and methods lead to increased costs, which is not always the case. It is true that innovation in a new field will incur the costs of research and development, but there are a number of opportunities to recoup those losses and even boost profits.
Offering environmentally safe services and industrial products instantly offers diversification and market differentiation. Many contracts and consumers are looking for green materials and services, some of them even exclusively so. Focusing on environmental solutions provides the angle to attract business and will position a company to benefit as the market grows.
There are also a number of projects up for proposal that mandate environmentally conscious practices and certification. Incorporating those aspects opens the opportunity to bid on these desirable contracts. A significant portion of stimulus money is being spent in this way.
What Drives The Overall Market Development
Industrial product development is being driven forward by many factors that have already been touched on. In addition, many companies are expanding their mission statements and implementing social initiatives which include environmentally safe practices and materials. This helps earn good will and brings companies into compliance for government incentives.
Many cities, states, and the federal government are offering incentive programs to help push the technology and techniques forward. Tax breaks, tax credits, reduced fees, priority or expedited permitting, technical assistance, grants and low-interest loans have all been utilized to spur the market forward.
Getting on board with the rising tide of environmental consciousness as well as green initiatives and industrial supplies can put any company into a growth position.
