| A11861 | Pages: 250 | Jun 2021 | 2594 Views | ||
| Author(s) : Digvijay Pawar | Tables: 123 | Charts: 45 |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Alternative Building Materials Market
Request Now !The alternative building materials market size was valued at $189,823.80 million in 2020, and is expected to reach $330,269.80 million by 2030, registering a CAGR of 5.8% from 2021 to 2030. Alternative building materials are eco-friendly building materials that are used instead of cement, sand and other traditional material for construction of walls, windows, doors, roofs and other structures in the building. These alternative building materials are sustainable and used to build residential and non-residential infrastructures.
The alternative building materials market is majorly driven by increasing awareness among the people and new environmental construction restrictions implemented by governments to use sustainable material for infrastructural development. In addition, the alternative material requires less energy for production as well as has less emission of carbon compared to that of traditional building material. This makes them eco-friendly and ideal for use as an alternative building material. Moreover, the Leadership in Energy and Environmental Design (LEED) green certification leads to considerable concession in taxes and other grants.
![Alternative-Building-Materials-Market-2021-2030[2]](https://www.alliedmarketresearch.com/assets/sampleimages/alternative-building-materials-market-2021-20302-1625217768.jpeg )
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This makes people opt for alternative building material. However, the alternative material does not provide expected strength and lacks in providing finish as compared to that of concrete. This acts as restraint to the alternative building materials market growth. Furthermore, during the COVID-19 outbreak, construction, manufacturing, and oil & gas industries were majorly affected. Construction activities were also stopped or restricted to a huge extent. Manufacturing and transportation activities along with their supply chains were hampered on a global level. This directly hampered the alternative building materials market growth. However, the market gained stability in third and fourth quarter of 2020. Moreover, gradually all industries are resuming their regular manufacturing and services. This is further expected to lead to re-initiation of alternative building materials companies at their full-scale capacities, which is expected to help the market to start to recover by mid of 2021.
On the contrary, rise in adoption of new manufacturing processes and advancement in technology of material in its manufacturing and installation process will be a major opportunity for alternative building materials market during the forecast period
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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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By material, in 2020, the wood segment dominated the alternative building materials market, in terms of revenue, and recycled plastic segment is expected to witness growth at the highest CAGR during the forecast period. On the basis of end user, the residential segment led the market in 2020, in terms of revenue, and non-residential segment is anticipated to register highest CAGR during the forecast period. On the basis of application, the flooring segment led the market in 2020, in terms of revenue, and furniture segment is anticipated to register highest CAGR during the forecast period. By region, the Asia-Pacific region led the market in 2020, in terms of revenue, and LAMEA region is anticipated to register the highest CAGR during the forecast period.
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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Key Benefits For Stakeholders
Key Market Segments
By Material
By End User
By Application
By Region
Key Players
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The alternative building material market is mainly driven by increase in infrastructural development using alternative building material. In addition, Leadership in Energy and Environmental Design (LEED) green certification leads to considerable concession in taxes and makes the owner of the building eligible for other grants. Moreover, the material has less energy consumption as well as less emission of radiations. The alternative building materials market was valued at $189,823.80 million in 2020, and is expected to reach $330,269.80 million by 2030, registering a CAGR of 5.8% from 2021 to 2030.
However, the R&D is in initial stage and the material does not have much strength and finishing as compared to traditional building material; thus, acting as another restraint to the market. On the contrary, adoption of new manufacturing processes and advancement in material technology will act as a major opportunity for the alternative building material market during the forecast period.
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 material market.
A. The global alternative building material market size was valued at $ 189,823.8 million in 2020, and is projected to reach $ 330,269.8 million by 2030, growing at a CAGR of 5.8% from 2021 to 2030.
A. The forecast period considered for the global alternative building material market is 2021 to 2030, wherein, 2020 is the base year, 2021 is the estimated year, and 2030 is the forecast year.
A. To get latest version of global alternative building material market report can be obtained on demand from the website.
A. The base year considered in the global alternative building material market report is 2020.
A. The top companies holding the market share in the global alternative building material market report include Bauder Ltd., ByFusion Global Inc., CarbonCure Technologies Inc., JD Composites, Kirei, Neular, Plasticiet, Rammed Earth Enterprises, Rammed Earth Works and Takataka Plastics.
A. The top ten market players are selected based on two key attributes - competitive strength and market positioning
A. By material, the wood segment dominated the global alternative building material market, in terms of revenue and is expected to maintain this trend during the forecast period.
A. By application, the flooring segment is the highest share holder of global alternative building material market.
A. The report contains an exclusive company profile section, where leading 10 companies in the market are profiled. These profiles typically cover company overview, geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
A. The market value of the global alternative building material market is $ 199,504.8 million in 2021.
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