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Global alternative building materials market to generate $330.26 billion by 2030: Allied Market Research

Rise in environmental awareness and emergence of Leadership in Energy and Environmental Design (LEED) green certification programs drive the growth of the alternative building materials market. Asia-Pacific contributed to the highest share in 2020, and is expected to continue its dominant share in terms of revenue by 2030. The construction activities were hindered due to lockdown measures taken during the Covid-19 pandemic and the demand for alternative building materials reduced.

Portland,OR, July 19, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global alternative building materials market generated $189.82 billion in 2020, and is estimated to generate $330.26 billion by 2030, witnessing a CAGR of 5.8% from 2021 to 2030. The report offers a detailed analysis of changing market trends, value chain, top segments, key investment pockets, regional scenarios, and competitive landscape.

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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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.

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.

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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, 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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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.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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