Global Alternative Building Materials Market Report and Forecast 2024-2032

Global Alternative Building Materials Market Outlook

The global alternative building materials market attained a value of nearly USD 221.44 billion in 2023. The market is projected to grow at a CAGR of 5.9% between 2024 and 2032 to reach a value of around USD 370.95 billion by 2032.

Key Trends in the Market

Alternative building materials refer to different types of construction materials which are used as substitutes for conventional building materials. Alternative building materials are eco-friendly and are generally made from waste products.

• The thriving building and construction sector across emerging economies, owing to the rising standards of living and growing government expenditure towards infrastructure development, is driving the alternative building materials market growth.

• Rapid transition from conventional construction materials towards low-cost and eco-friendly construction alternatives is a key market trend. Rising awareness pertaining to issues such as climate change is further propelling the market growth.

• Rising investments towards the development of green buildings across developing countries, especially in the Asia Pacific, are generating a significant demand for alternative building materials.

• High tensile strength, low production cost, and aesthetically pleasing properties offered by some alternative building materials, such as wood and bamboo, are further favouring the alternative building materials market growth.

Market Analysis

Based on material, the market is segmented into bamboo, recycled plastic, and wood, among others. On the basis of application, the market is classified into construction, furniture, and flooring. By end user, the market is divided into residential and non-residential. The major regional markets for alternative building materials include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global alternative building materials market report, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Bauder Ltd

• BYFUSION GLOBAL INC

• JD Composites

• Kirei USA, LLC

• Neular OÜ

• Plasticiet

• Takataka Plastics

• Others

Market Share by Material

Wood accounts for a significant share of the alternative building materials market. Wood is a renewable source of energy with a low carbon impact on the environment. In addition, the energy required to produce wood is lower as compared to its counterparts.

Increasing applications of wood to construct walls, ceilings and floors, doors, furniture, and window frames, among others, are fuelling the growth of this segment. Moreover, wood can be used in several non-residential projects, such as shipbuilding, and library and theatre development, among others.

In the forecast period, wood is expected to witness an escalated demand to develop aesthetically pleasing commercial structures and furniture, thereby adding to the growth of this segment.

Market Share by End User

The non-residential sector holds a significant share in the market. Heightening demand for alternative building materials, such as bamboo and recycled plastics, to develop bridges, driveways, and sidewalks, among other commercial construction activities, is driving the segment’s growth.

Meanwhile, the demand for alternative building materials in residential applications is expected to surge amid the rising housing demand, rapid urbanisation, and the introduction of favourable government initiatives aimed at developing affordable housing.

Competitive Landscape

Bauder Ltd is a prominent multinational manufacturer of building construction materials, offering products such as eco-friendly building materials. It was founded in 1857 and is headquartered in Suffolk, the United Kingdom.

BYFUSION GLOBAL INC is a company which turns waste into useful materials for infrastructure development. Founded in 2017 and headquartered in California, the United States, the company has been dedicated to offering solutions to combat the plastic crisis.

JD Composites is a prominent construction company which specialises in developing building and housing materials using recycled plastic bottles. The company is currently headquartered in Nova Scotia, Canada.

Other market players include Kirei USA, LLC, Neular OÜ, Plasticiet, and Takataka Plastics, among others.

Key Highlights of the Report