Alternative Building Materials Market by Material (Bamboo, Recycled Plastic, Wood and Others), End User (Residential and Non-residential) and Application (Construction, Furniture & Flooring): Global Opportunity Analysis and Industry Forecast, 2021-2030
According to Allied Market Research, titled, the alternative building materials market size was valued at $189.8 billion in 2020, and is expected to reach $330.3 billion by 2030, registering a CAGR of 5.8% from 2021 to 2030.
Companies outlook –
The major players profiled in the alternative building materials market include Bauder Ltd., ByFusion Global Inc., CarbonCure Technologies Inc., JD Composites, Kirei, Neular, Plasticiet, Rammed Earth Enterprises, Rammed Earth Works and Takataka Plastics.
Major companies in the market have adopted strategies such as product launch, business expansion and partnership, to offer better products and services to customers in the alternative building materials market.
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Alternative Building Materials Market Growth Factors:
The alternative building materials market consists of revenue generated by sales for environment friendly building material such as wood, bamboo, recycled plastic and other eco-friendly material. These material are used to construct walls, windows, doors and roofs of residential and non-residential infrastructures. The alternative material are introduced to with a view to build sustainable buildings and to minimize pollution generated while manufacturing traditional building material.
Increase in awareness about using environment friendly material and strict restriction implemented by government for manufacturing and using traditional material has lead people to opt for alternate building material. In addition, acquiring the LEED (Leadership in Energy and Environmental Design) green certification from the government authorities on building eco-friendly buildings makes the owner eligible for several grants from the government and also gets concession in taxes. Further, manufacturing of these alternative material emits less carbon as well as requires less energy for manufacturing. These are some of the driving factors for the alternative building material market.
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Covid-19 Analysis:
outbreak of COVID-19 has led to halt in construction and manufacturing activates across the globe. Halt in logistics services has led to halt in the construction industry, which, in turn, hinders the growth of the alternative building materials market.
The alternative building materials market is segmented on the basis of material, end user, application and region.
On the basis of capacity, the market is divided into bamboo, recycled plastic, wood and others.
Depending on end user, it is classified into residential and non-residential.
On the basis of application, the market is divided into construction, furniture and flooring.
By region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
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The study of the market players covers the company overview, price analysis, and value chain, along with portfolio analysis of services and products. These players have adopted various strategies such as partnerships, new product launches, joint ventures, and mergers & acquisitions to maintain their foothold in the market.
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