Global Alternative Building Materials Market Report and Forecast 2023-2028

Global Alternative Building Materials Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global alternative building materials market attained a value of USD 209.1 billion in 2022. Aided by the rising demand for sustainable construction practices and the expanding applications of these materials in various construction sectors, the market is anticipated to grow at a CAGR of 5.9% during the forecast period of 2023-2028

to attain a value of USD 297.5 billion by 2028.
Alternative building materials refer to unconventional construction materials that offer benefits like improved durability, energy efficiency, and a lesser environmental impact as compared to traditional building materials such as concrete, steel, and wood. These materials include bamboo, straw bales, recycled plastic, rammed earth, and others, and are often used in a variety of applications, including residential housing, commercial buildings, and infrastructure projects. These materials play a crucial role in promoting sustainability, resource conservation, and energy efficiency in the built environment.

The growing emphasis on sustainable construction practices is a primary driver for the global alternative building materials market growth. As the need to mitigate the environmental impact of the construction industry becomes more apparent, there has been a significant shift towards eco-friendly and sustainable construction practices. This shift has resulted in a surge in demand for alternative building materials that are renewable, recyclable, and have a lower carbon footprint.

The diverse applications of alternative building materials in various sectors also significantly contribute to the alternative building materials market expansion. In residential construction, these materials are used to build energy-efficient homes with a lower environmental impact. In commercial construction, alternative building materials are used to construct green buildings that align with corporate sustainability goals and regulations. Furthermore, in infrastructure projects, these materials are employed to build sustainable roads, bridges, and public spaces that are resilient and environmentally friendly.

The growing interest in green certifications and building codes is also boosting the alternative building materials market. With the rise of sustainability rating tools like LEED (Leadership in Energy and Environmental Design), BREEAM (Building Research Establishment Environmental Assessment Method), and Green Star, there has been an increased focus on using alternative building materials to attain higher ratings. These certifications not only reduce the environmental impact of buildings but also offer economic benefits like lower operational costs and increased property values, thereby spurring the alternative building materials market growth.

The rise of technological advancements and innovations in the field of alternative building materials also plays a crucial role in the market expansion. Innovative materials like self-healing concrete, translucent wood, and solar tiles are gaining traction due to their unique properties and benefits. These advancements are expected to further boost the alternative building materials market demand in the future.

Market Segmentation

The market can be divided based on material, application, end user, and region.

Market Breakup by Material

• Bamboo
• Recycled Plastic
• Wood
• Others

Market Breakup by Application

• Construction
• Furniture
• Flooring

Market Breakup by End User

• Residential
• Non-Residential

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global alternative building materials companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Bauder Ltd
• BYFUSION GLOBAL INC
• JD Composites
• Kirei USA, LLC
• Neular OÜ
• Plasticiet
• Takataka Plastics
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.