Alternative Building Materials Market Witnessing Stunning Growth At a CAGR of 5.8% | COVID-19 Impact Analysis

Alternative Building Materials Market

PORTLAND, OR, UNITES STATES, February 9, 2022 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, 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.

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.

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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.

Covid-19 Scenario:

The construction activities were hindered due to lockdown measures taken during the Covid-19 pandemic. So, the demand for alternative building materials reduced considerably. However, the demand would increase during the post-lockdown.
In addition, supply chains were disrupted on the global level. This directly led to hindrances in manufacturing and installation activities in the residential and non-residential sectors.

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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 share, 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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David Correa
Allied Analytics LLP
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