Global Alternative Construction Materials - 2019-2026
Global Alternative Construction Materials Market Overview
The global alternative construction materials market is expected to grow at a CAGR of XX% to reach a market value of USD XX million by 2026.
The world has come to be dependent on concrete as one of the chief material for building construction. However, concrete does more harm to the environment than help it. To clarify, 16% of all fossil fuel consumed every year is used to turn those raw materials into construction products. In regards to this, alternatives for building material can lower impact on the environment. Alternative construction materials are those which can be used economically by replacing the conventional building materials. Alternative construction materials are made out of natural materials, such as bamboo and straw bales, and can help to lower the energy costs of the occupant once built by helping with natural insulation or by using recycled materials which have reduced greenhouse emissions.
Global Alternative Construction Materials Market – Market Dynamics
The global alternative construction materials market is primarily driven by its unique properties and added advantages over the conventional materials used for construction. Characteristics in the material provide environmental benefits, less energy consumption, and emission reduction potential are major driving factors. According to the U.S. Green Building Council (USGBC), the construction industry accounts for 40% of worldwide energy usage and 16% of all fossil fuel consumed every year is used to turn those raw materials into construction products. Moreover, alternative materials provide better, efficient, durable and cost-effective construction while ensuring judicious utilization of limited available resources with least possible degradation of the environment which is expected to boost the market growth further.
However, the lack of knowledge about new materials may hinder the market growth.
Global Alternative Construction Materials Market – Segment Analysis
By Material Type, the global alternative construction materials market is segmented into Straw Bales, Rammed Earth, HempCrete, Bamboo, Recycled Plastic, Wood, Mycelium, Ferrock, AshCrete, Timbercrete,and others. Wood holds one of the most significant market shares owing to its extensive use in construction for thousands of years. Moreover, it has significant environmental benefits such as manufacturing wood for construction is less energy intensive than other materials, including steel, concrete, cement or glass production and the finished product also has lower embodied energy. Recycled Plastic is a fast growing market share as plastics are one of the most energy-efficient materials over their entire life-cycle. It is attributed to the fact that the typical lifespan of plastic applications in building and construction is up to 30 to 50 years.
By product type, the global alternative construction materials market is segmented into structural, interior, exterior, and building systems. The structural type products dominate the global market as they are an essential part of a building and are therefore are used in larger quantities when compared to other interior and exterior construction materials. The structural materials used are made up of recyclable products such as concrete, metals, and industrial wastes such as fly ash, fabrics, etc.
By application, the global alternative construction materials market is segmented into exterior siding, interior finishing, insulation, framing, roofing, and others. The insulation share holds the most substantial share as insulation is the primary component which reduces the energy consumption, in turn lowering the overall energy cost and carbon emissions impact. According to the United States Environmental Protection Agency (EPA), Commercial and Residential buildings caused 11.6% of 2017 greenhouse gas emissions. These greenhouse gas emissions arise primarily from fossil fuels burned for heat and the use of certain products that contain greenhouse gases. This can be done by materials such as HempCrete, Mycelium,and Timbercrete which are eco-friendly insulation materials that help reduce the amount of heating needed.
Global Alternative Construction Materials Market– Geographical Analysis
North America holds the largest market share for alternative construction materials. It is attributed to the growing need of energy saving construction buildings coupled with government and non-government regulations for energy efficiency practices along with the rise in consumer awareness regarding environmental & economic benefits. Moreover, the increasing number of LEED-certified projects along with the growth of the construction industry are giving a much-needed thrust to the North American regional market. The US, where LEED originated, has the world’s largest market for LEED with 33,632 projects and Canada coming in third with 3,254 projects as of December 31, 2018. Additionally, strong support of the government in terms of grants, funds and subsidies and R&D activities will propel the market.
Global Alternative Construction Materials Market– Competitive Analysis
The most prominent players in the market include – Forbo Holding AG, KIREI, LafargeHolcim, Interface, Inc., PPG Industries Inc., DuPont, Owens Corning Corporation, BASF SE and Bauder. Most of the key players in the market are adopting strategies such as mergers and acquisitions, partnerships, and regional expansion to enhance market competitiveness. For instance –
In February 2019, LafargeHolcim has been awarded major long-term contracts worth EUR 110 million as part of the Grand Paris Express (GPE) project. The GPE is the largest transport infrastructure project in Europe and represents a total investment of about EUR 38.5 billion. The project will meet the growing city’s needs for improved transport infrastructure and will prepare Paris for the 2024 Olympic Games.
In February 2019, LafargeHolcim acquired Transit Mix Concrete Co., a leading supplier of building materials in Colorado and subsidiary of Continental Materials Corporation.
In October 2018, Kingspan announced a new range of architectural floor finishes which include a wide variety of Terrazzo, Porcelain and genuine timber that will allow architects, designers, specifiers, and building owners to elevate their interior space whilst ensuring practical access to the services underneath.
Why Purchase the Report?
• Visualize the composition of the global Alternative Construction Materials Market across each indication, in terms of type and medications options, highlighting the key commercial assets and players.
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