Alternative Building Materials Market Sustainable Solutions Navigating to Reach $330,269.80 million by 2030
Global alternative building materials market to generate $330.26 billion by 2030: Allied Market Research
WILMINGTON, DELAWARE, UNITED STATES, April 16, 2024 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global alternative building materials market generated $189.82 billion in 2020, and is estimated to generate $330.26 billion by 2030, witnessing a CAGR of 5.8% from 2021 to 2030.Rise in environmental awareness and emergence of Leadership in Energy and Environmental Design (LEED) green certification programs drive the growth of the global alternative building materials market. However, lack of strength in these materials hinders the market growth. On the other hand, introduction of advanced materials creates new opportunities in the coming years.
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.
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The report offers detailed segmentation of the global alternative building materials market based on material, end user, application, and region.
Based on material, the wood segment held the highest market share in 2020, accounting for nearly 91% of the total share, and is projected to maintain its leadership status during the forecast period. However, the recycled plastic segment is estimated to grow at the fastest CAGR of 7.8% from 2021 to 2030.
Based on application, the flooring segment accounted for the largest share in 2020, contributing to nearly four-fifths of the global alternative building materials market, and is expected to maintain its lead position during the forecast period. However, the furniture segment is projected to portray the highest CAGR of 6.2% from 2021 to 2030.
Based on region, Asia-Pacific contributed to the highest share in 2020, accounting for nearly two-thirds of the total share, and is expected to continue its dominant share in terms of revenue by 2030. However, LAMEA is projected to manifest the largest CAGR of 6.6% during the forecast period.
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Leading Players:
Leading players of the global alternative building materials market discussed in the research include Bauder Ltd., CarbonCure Technologies Inc., ByFusion Global Inc., Kirei, JD Composites, Plasticiet, Neular, Rammed Earth Works, Rammed Earth Enterprises, and Takataka Plastics.
Key Points of the 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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Key Findings Of The Study
By material, the wood segment was the highest revenue contributor in 2020.
By end user, the residential segment generated the highest revenue in 2020.
By application, the flooring segment generated the highest revenue in 2020.
By region, the Asia-Pacific generated the highest revenue in 2020.
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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Allied Market Research
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