Alternative Building Material Market Size is projected to reach USD 345 Billion by 2030, growing at a CAGR of 6%: Straits Research

New York, United States, July 14, 2022 (GLOBE NEWSWIRE) -- Alternative building materials can be used economically instead of traditional building materials. Alternative building materials are made from waste products, which reduces environmental pollution. The global population is increasing at an unprecedented rate, and it is expected to reach 9.8 billion by 2050. 

Non-sustainable exploitation of Earth's non-renewable resources due to the high demand for conventional building materials is already a primary environmental concern. With the world's population rapidly increasing, this concern will undoubtedly become even more critical in the future. Using alternative building materials in construction is an effective way to address this issue.

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Growing Environmental Awareness and LEED Drives the Global Alternative Building Material Market

Environmental awareness is growing worldwide owing to climate change. Materials that emit ozone gases during manufacturing should be avoided to stop the negative effect on the climate. Alternative building materials are eco-friendly and thus are the preferred choice for replacing conventional materials. These materials are excellent insulators, providing excellent heat and cold insulation. As a result, temperature loss is reduced, making the home more energy-efficient. 

Governments and organizations worldwide enforce strict rules and regulations regarding constructing houses, the materials used in their construction, and the amount of energy consumed by the places. The European Union, for example, has set a goal of making all homes 90% energy efficient by 2030.

Leadership in Energy and Environmental Design (LEED) is globally the most extensively used green building rating system. LEED, which is available for all building types, provides a framework for highly efficient, healthy, and cost-effective green buildings. LEED provides a framework for project teams to select solutions that contribute to overall environmental progress. In addition, LEED assists investors in meeting their ESG objectives by providing a robust and globally recognized green building framework for measuring and managing real estate performance.

LEED is defined as the globally recognized symbol of achievement and sustainability leadership. LEED-certified buildings are designed and built with an emphasis on energy efficiency, water efficiency, reduced carbon emissions, and improved indoor air quality. Owing to the several benefits provided by the LEED, the demand for alternative building products is expected to heave during the forecast period.

Report Scope

Report Metric	Details
Market Size	USD 345 Billion by 2030
CAGR	6% (2022-2030)
Historical Data	2019-2020
Base Year	2021
Forecast Period	2022-2030
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Material, By Application, By End-User, By Regions
Geographies Covered	North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors	Byfusion Global Inc, Bauder Ltd, Carboncure Technologies Inc, JD Composites, Kirei, Rammed Earth Enterprises, Nebular, Plasticiet, Rammed Earth Works, Takataka Plastics
Key Market Opportunities	Introduction of Advanced Materials
Key Market Drivers	Growing Environmental Awareness Leadership in Energy and Environmental Design (LEED) Green Certification

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Introduction of Advanced Materials to Give Rise to Lucrative Market Opportunities for Alternative Building Materials

Alternative materials, such as recycled plastic, rammed Earth, or wood, are weak and cannot withstand heavy rains, floods, or storms. Because of the lack of strength, concrete construction is preferred. Furthermore, because of their environmental friendliness, chemicals cannot be used to strengthen the alternative, preventing companies from producing alternative solid materials.

Furthermore, fire can quickly spread through wood and bamboo, destroying the house or structure. Likewise, if the wood and bamboo walls, roofs, or floors are not properly bound, they can cause temperature loss, lowering the house's green quality. These drawbacks are impeding the growth of the market for alternative building materials.

Regional Insights

Asia-pacific is expected to dominate the alternative building material market during the forecast period, growing at a CAGR of 5.9%. Significant increases in construction activity in Asia-Pacific, particularly in China and India, have contributed to the construction market's growth in recent years. Furthermore, increasing environmental awareness in developing countries is expected to provide lucrative opportunities to raise the alternative building material market. 

North America is the second-largest region. It is estimated to reach an expected value of USD 60 billion by 2030 at a CAGR of 5.7%. As the market is in its early stages of development, the North American alternative building material market has seen consistent growth. However, it is expected to increase as technology advances, and challenges such as poor finish and technical expertise are overcome in the global market. The United States accounts for the majority of revenue generation. 

Europe has been a pioneer in using alternative building materials in construction technology. Countries like the United Kingdom, France, Italy, and Germany have several ongoing construction projects that use alternative building materials to construct houses. This makes a significant contribution to market growth. 

Key Highlight

• The global alternative building material market was valued at USD 205 billion in 2021. It is expected to reach USD 345 billion by 2030, registering a CAGR of 6% during the forecast period (2022–2030). 
• Material-wise, the global alternative building material market is segmented into Wood, Recycled Plastic, Bamboo, and Others. Wood acquires the largest share in the market and is expected to grow at a CAGR of 5.6% by 2030. Wood has been used in construction since antiquity. It's used in various applications, including walls, roofs, flooring, furniture, and artifacts. It is the most environmentally friendly alternative building material used worldwide. Construction involves the use of timber, lumber, and other wood products.
• Application-wise, the global alternative building material market is segmented into Flooring, Furniture, and Construction. The Flooring segment is anticipated to dominate the global alternative building material market during the forecast period, growing at a CAGR of 5.7%. In July 2020, Oregon Flooring Company announced to expand its business by starting a new manufacturing plant with an investment of USD 35 million in Georgia to meet the growth in demand for wood flooring products. Such strategies are anticipated to drive the development of the alternative building material market during the forecast period.
• End-user-wise, the global alternative building material market is segmented into Residential and Non-Residential. The Residential segment dominates the global alternative building material market and is expected to grow at a CAGR of 5.7% by 2030. The majority of alternative building materials are used in residential construction. Around the world, various alternative materials are used to construct sustainable homes.
• Region-wise, the global alternative building material market is segmented into North America, Asia-Pacific, Europe, and LAMEA. Asia-Pacific holds the maximum market share.

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Key players in the Alternative Building Materials Market include

• Byfusion Global Inc
• Bauder Ltd
• Carboncure Technologies Inc
• JD Composites
• Kirei
• Rammed Earth Enterprises
• Nebular
• Plasticiet
• Rammed Earth Works
• Takataka Plastics

Global Alternative Building Material Market: Segmentation

By Material

• Bamboo
• Recycled Plastic
• Wood
• Others

By Application

• Construction
• Furniture
• Flooring

By End-User

• Residential
• Non-Residential

By Regions

• North America
• Asia-Pacific
• Europe
• LAMA

TABLE OF CONTENT

1. Introduction

1. 1. Market Definition
   2. Market Scope

2. Research Methodology

2. 1. Primary Research
   2. Research Methodology
   3. Assumptions & Exclusions
   4. Secondary Data Sources

3. Market Overview

3. 1. Report Segmentation & Scope
   2. Value Chain Analysis: Alternative Building Material Market
   3. Key Market Trends

3. 3. 1. Drivers
      2. Restraints
      3. Opportunities

3. 4. Porter’s Five Forces Analysis

3. 4. 1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry

3. 5. Market Share Analysis

4. Material Overview

4. 1. Introduction

4. 1. 1. Market Size & Forecast

4. 2. Bamboo
      1. Market Size & Forecast
   3. Recycled Plastic

4. 3. 1. Market Size & Forecast

4. 4. Wood

4. 4. 1. Market Size & Forecast

5. Applications Overview

5. 1. Introduction

5. 1. 1. Market Size & Forecast

5. 2. Construction

5. 2. 1. Market Size & Forecast

5. 3. Furniture

5. 3. 1. Market Size & Forecast

6. Regional Overview

6. 1. Introduction

6. 1. 1. Market Size & Forecast

6. 2. America

6. 2. 1. North America
      2. U.S.

1. 1. 1. 1. By Material
         2. By Applications

6. 2. 3. Canada

1. 1. 1. 1. By Material
         2. By Applications

6. 2. 4. Mexico

1. 1. 1. 1. By Material
         2. By Applications

6. 2. 5. Latin America

1. 1. 1. 1. By Material
         2. By Applications

6. 3. Europe

6. 3. 1. Market Size & Forecast
      2. Germany

1. 1. 1. 1. By Material
         2. By Applications

6. 3. 3. France

1. 1. 1. 1. By Material
         2. By Applications

6. 3. 4. U.K.

1. 1. 1. 1. By Material
         2. By Applications

6. 3. 5. Italy

1. 1. 1. 1. By Material
         2. By Applications

6. 3. 6. Spain

1. 1. 1. 1. By Material
         2. By Applications

6. 3. 7. Rest of Europe

1. 1. 1. 1. By Material
         2. By Applications

6. 4. Asia Pacific

6. 4. 1. Market Size & Forecast
      2. Japan

1. 1. 1. 1. By Material
         2. By Applications

6. 4. 3. China

1. 1. 1. 1. By Material
         2. By Applications

6. 4. 4. Australia

1. 1. 1. 1. By Material
         2. By Applications

6. 4. 5. India

1. 1. 1. 1. By Material
         2. By Applications

6. 4. 6. South Korea

1. 1. 1. 1. By Material
         2. By Applications

6. 4. 7. Rest of Asia-Pacific

1. 1. 1. 1. By Material
         2. By Applications

6. 5. Middle East & Africa

6. 5. 1. Market Size & Forecast
      2. Saudi Arabia

1. 1. 1. 1. By Material
         2. By Applications

6. 5. 3. South Africa

1. 1. 1. 1. By Material
         2. By Applications

6. 5. 4. Kuwait

1. 1. 1. 1. By Material
         2. By Applications

6. 5. 5. Rest of Middle East & Africa

1. 1. 1. 1. By Material
         2. By Applications

7. Company Profile
   1. Byfusion Global Inc

7. 1. 1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio

7. 2. Bauder Ltd

7. 2. 1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio

7. 3. Carboncure Technologies Inc

7. 3. 1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio

7. 4. JD Composites

7. 4. 1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio

Table of Content and Figure @ https://straitsresearch.com/report/alternative-building-material-market/toc 

Market News

• In March 2022, Byfusion hosted a live build at Boise Towne Square to demonstrate how cities can use their difficult-to-recycle and non-recyclable plastic waste. In April 2022, Invert and Carboncure signed the most significant purchase agreement for carbon credits. This agreement was made to store Co2 through carbon mineralization. 
• In January 2022, CarbonCure Technologies was accepted into the Cleantech Group's Global Cleantech 100 Hall of Fame as the global leader in carbon dioxide removal technologies for the concrete industry. CarbonCure was also designated a 2022 Global Cleantech 100 Company for the eighth year, out of a candidate pool of more than 10,000 entrepreneurs.

News Media

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