A recent report published by Infinium Global Research on the bio-based construction polymers market provides in-depth analysis of segments and sub-segments in the global as well as regional bio-based construction polymers market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional bio-based construction polymers market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global bio-based construction polymers market. According to the report, the global bio-based construction polymers market is projected to grow at a CAGR of 10.4% over the forecast period of 2018-2024.
Bio-based construction polymers are material that contains carbon originating from a renewable plant source that is used in the construction industry. They are derived from biomass and microorganisms as an alternative to petroleum-based polymers. Bio-based polymers can be made from agricultural by-products such as cornstarch and animal fats that do not harm the environment. Bio-based polymers find its application in various construction sectors such as flooring, cladding, and insulations. The use of bio-based construction polymers can improve waste management by recycling of materials, reuse product components, and reduce dependence on fossil fuels.
The assessment of the environmental impacts of petroleum-based construction polymers on the ecosystem is the driving factor for the growth of bio-based construction polymers. Renewably-sourced bio-polymers reduce the dependence on fossil fuels and provide durability and enable application-critical performance. Bio-based polyurethanes are used in buildings for piping, insulation and cladding panel. Additionally, the bio-based polymers are biodegradable as compared to its alternative petroleum-based polymers that are resistant to decomposition. Furthermore, the increasing government concerns on waste disposal and programs like LEED certification and IGCC that aims at decreasing energy usage and carbon footprints promote the growth of the bio-based construction polymer market. However, the low awareness about bio-based products and the use of traditional petroleum-based polymers in construction hinders the growth of the bio-based construction polymer market. Moreover, the bio-based construction polymers offer a practical solution for controlling the emission of greenhouse gases (GHGs) and can act as a significant substitute for petroleum polymers thereby creating an opportunity for the growth of emerging bio-based construction polymer market.
By geography, Asia Pacific holds the highest market shares and is expected to remain dominant over the forecast period owing to the growth of infrastructure in this region. The increasing environmental concerns and stringent government regulations to reduce the carbon footprints boosts the growth of bio-based construction polymers in Asia Pacific region. Europe is the fastest growing region owing to the increase in the adoption of sustainable technologies. The favorable government policies for promoting clean technologies are expected to aid the growth of the bio-based construction polymers market.
The report on global bio-based construction polymers market covers segments such as application, and product. On the basis of application, the global bio-based construction polymers market is categorized into profile, insulation, pipe, and others. On the basis of product, the global bio-based construction polymers market is categorized into epoxies, polyethylene terephthalate (PET), polyurethane (PUR), cellulose acetate (CA), and others.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while the Asia-Pacific region includes countries such as China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are the major markets included in the European region. The U.S. drives the growth in the North America region, as it is the largest market in the region. In the Asia-pacific region, rapid industrial growth in India and China offer a substantial potential for the growth in the bio-based construction polymers market. As a result, the APAC region is projected to experience a growth at a CAGR of x.x% over the forecast period 2018-2024.
The report provides profiles of the companies in the global bio-based construction polymers market such as PolyOne Corporation, TEIJIN, E. I. du Pont de Nemours and Company, Toyobo Co., Ltd, Bio-On SpA, NatureWorks LLC, Mitsubishi Gas Chemical Company, Inc., Evonik Industries, BASF SE, and SK Chemicals.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global bio-based construction polymers market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of bio-based construction polymers market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the bio-based construction polymers market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the bio-based construction polymers market to understand the present and future trends in this market and formulate their strategies accordingly.
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