Alternative Building Material Market worth USD 266,234.7 million by 2027

The Market Statsville Group (MSG) publishes the new report on the "Alternative Building Material Market by Material (Bamboo, Recycled Plastic, Wood, and Others), by End Users (Residential and Non-residential), by Application (Construction, Furniture, and Flooring), by Region – Global Share and Forecast to 2027". The global alternative building material market size is expected to grow from USD 189,823.80 million in 2020 to USD 266,234.7 million by 2027, at a CAGR of 5.8% during the forecast period. Leadership in Energy and Environmental Design 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 focusing 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 the overall development of the nation’s economy. In addition, the LEED-certified buildings have over 20% more valuation compared to ordinary buildings.

Global Alternative Building Material Market Segmentation

The overall alternative building material market has been segmented into the material, end-users, application, and region.

• By Material (Bamboo, Recycled Plastic, Wood, and Others)
• By End Users (Residential and Non-residential)
• By Application (Construction, Furniture, and Flooring), by Region – Global Share and Forecast to 2027
• By Region (US, Mexico, Canada, Germany, France, UK, Italy, Spain, China, India, South Korea, Japan, Southeast Asia, Australia, Saudi Arabia, Peru, South Africa, Qatar, UK, Nigeria, Israel, Brazil, Argentina)

Residential, by end-users, is estimated to hold the largest market share during the forecast period

On the basis of end-user, the alternative building material market is segmented into residential and non-residential. The residential segment is anticipated to dominate the global alternative building material market, in terms of revenue, during the study period. The alternative building material used to build residential structures or houses is considered under this segment. It includes walls, roofs, floors, and furniture of these houses.

The major application of alternative building material is for residential applications. Several alternative materials are used to build sustainable homes around the world. For instance, in November 2020, The Plastics for Change (PFC) India Foundation launched an environmentally sustainable project to build low-cost houses using recycled plastic in construction material. After the success of a pilot project, the foundation has planned to build 20 more such homes in the next phase. Such adoption of recycled plastic as a construction material will further.

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The Asia Pacific accounts for the largest market share in alternative building material market 2020

Based on the regions, the global alternative building material market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Asia-Pacific was the largest contributor of 63.2% to the global market revenue in 2020 and is expected to maintain its dominance over the forecast period. Japan is an advanced country considering the technology its uses in its projects. Similarly, it has developed sustainable materials that are environment friendly and energy-efficient. In addition, these materials have zero emission of greenhouse gases while manufacturing.

The significant rise in construction activities in the last few years in Asia-Pacific, majorly in China and India, has contributed toward the growth of the construction market. Governments of the countries such as Singapore, China, Japan, and India are actively investing in developing sustainable infrastructure. Moreover, increasing environmental awareness in developing countries is anticipated to offer remunerative opportunities to expand the alternative building material market. Several buildings are built using sustainable materials in China, Japan, and India.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the alternative building material market. It also consists of the profiles of leading companies such as CarbonCure Technologies Inc., ByFusion Global Inc., Bauder Ltd., Neular, Plasticiet, Kirei, JD Composites, Rammed Earth Enterprises, Takataka Plastics, and Rammed Earth Works.

Browse complete report: https://www.marketstatsville.com/alternative-building-material-market

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