Alternative Building Materials Market Size, Share, Competitive Landscape and Trend Analysis Report, by Material, End User and Application : Global Opportunity Analysis and Industry Forecast, 2021-2030

Alternative Building Materials Market Research 2030

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.

There has been increase in environmental awareness around the world owing to climatic change occurring around the globe. In order to conserve natural resources and avoid adverse effects on climate by using material that emit ozone gases while manufacturing. In addition, alternative building material are also green materials that are completely ecofriendly and emit zero radiation or harmful gases while manufacturing.

The government and organizations around the world are implementing strict rules and regulation w.r.t construction of houses, material used for construction and energy consumed by the houses. For instance, the European Union, has targeted to make all the homes 90% energy efficient by 2030. This will lead to adoption of alternative building material for construction of walls, roofs, floors and other structures.

In addition, these materials are good insulator, which provides high quality of insulation from heat and cold. Thus avoiding loss of temperature and help the house to be more efficient. Moreover, alternative material such as recycled plastic is made from plastic waste and thus solves a major issue of dumping hazardous plastic wastes. Thus, driving the alternative building material market during the forecast period.

Moreover, Leadership in Energy and Environmental Design (LEED) is the most commonly used green building rating system around the globe. Available for all building types, LEED provides a framework for highly efficient, healthy, and cost-saving green buildings. LEED certification is a globally recognized symbol of sustainability achievement and leadership. LEED-certified buildings are designed and constructed with a focus on energy savings, water efficiency, reduced carbon emissions and improved indoor air quality.

Acquiring LEED certification is profitable and cost-effective for operating buildings and good for overall development of the nation’s economy. In addition, the LEED certified buildings have over 20% more valuation compared to an ordinary building. Moreover, the owner of the building get concession in taxes and also apply for special government grants that are allotted only to the LEED certificate holder. These are the factors driving the alternative building material market around the world.

However, The alternative material such as recycled plastic, rammed earth or wood does not have high strength and fail to withstand heavy rains, floods or storms. Thus, lack of strength makes the used to opt for concrete construction. In addition, the usage of chemicals cannot be done to strengthen the alternative owing to their eco-friendly property and therefore the companies fail to manufacture strong alternative material.

Moreover, wood and bamboo can easily catch fire, which can destroy the house or the structure. Furthermore, the wood and bamboo walls, roofs or floors can cause loss of temperature if not bound properly, which will cause in degrading the green quality of the house. Owing to all these disadvantages the growth of alternative building material market is hindered.

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, people restrict the use of alternative building material majorly because of their lack of strength. To overcome this problem many alternative material manufacturers are striving to develop sustainable methods or process to manufacture the alternative material that has high strength without harming its environmental friendly characteristic. The new and advanced material has to be durable, have longer life cycle ecology and avoid usage of toxic materials while manufacturing. For instance, in September 2020, Eastman and DuPont Biomaterials launched fabric collection made with sustainable and bio-based materials. The fabric will be used to manufacture drapes that will have luxurious look, however, will restrict transfer of heat through the windows. Such research and development of new and advanced material will boost the alternative building material market during the forecast period.

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

Segment Overview

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).

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.

Competition Analysis

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. 

Key Benefits For Stakeholders

• The report provides an extensive analysis of the current and emerging alternative building materials market trends and dynamics. 
• In-depth alternative building materials market analysis is conducted by estimations for the key segments between 2021 and 2030. 
• Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the market framework.
• A comprehensive analysis of four major regions is provided to determine the prevailing opportunities.
• The alternative building materials market forecast analysis from 2021 to 2030 is included in the report.
• The key market players operating in the market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the alternative building materials industry.

  Alternative Building Materials Market Report Highlights

Aspects	Details
By MATERIAL	Bamboo Recycled Plastic Wood Others
By APPLICATION	Construction Furniture Flooring
By END-USER	Residential Non-residential
By Region	North America  (U.S., Canada, Mexico) Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe) Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific) LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
Key Market Players	BAUDER LTD., RAMMED EARTH ENTERPRISES, KIREI, BYFUSION GLOBAL INC., NEULAR, CARBONCURE TECHNOLOGIES INC., RAMMED EARTH WORKS, TAKATAKA PLASTICS, JD COMPOSITES, PLASTICIET

Analyst Review

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.

 

Author Name(s) : Digvijay Pawar | Sonia Mutreja

Related Tags

• Doors And Windows
• Insulation
• Hazardous Waste

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