SUSTAINABLE MATERIALS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
The Global Sustainable Materials Market is estimated to be valued at USD 318.31 Bn in 2024 and is expected to reach USD 705.33 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 12% from 2024 to 2031. The global sustainable materials market is growing at a rapid pace owing to the increasing awareness of environmental hazards caused by conventional materials. Various government regulations coupled with shifting consumer preference towards eco-friendly products are boosting the demand for sustainable materials across industries. Major players are investing heavily in research and development to offer innovative solutions made from recycled raw materials. The market is expected to witness a double digit CAGR over the next five years on account of the rising adoption of bio-based and recycled plastics among others.
Market Dynamics:
The key drivers propelling the global sustainable materials market growth include stringent government rules regarding the use of plastic and stringent carbon emission norms. Moreover, the shifting preference of consumers towards sustainable products is positively impacting the market growth. However, high processing cost of sustainable materials compared to conventional raw materials may hamper the market expansion. On the opportunity side, continuous innovation in material science and growing infrastructure investment in developing nations are expected to unlock new avenues for the sustainable materials industry over the coming years.
Key features of the study:
- This report provides in-depth analysis of the global sustainable materials market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global sustainable materials market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include BASF SE, Dow Inc., NatureWorks LLC, Novamont S.p.A., Trex Company, Inc., Stora Enso Oyj, UPM-Kymmene Corporation, Braskem S.A., Eastman Chemical Company, Covestro AG, Coca-Cola Company (PlantBottle), Unilever, IKEA (Sustainable Wood Products), Henkel AG & Co. KGaA, and Procter & Gamble Co.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global sustainable materials market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global sustainable materials market.
Market Segmentation
Market Segmentation
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