The growing demand from the building & construction industry is expected to create lucrative opportunities for the global market, states Fortune Business Insights, in a report, titled “Bio-based Construction Polymers Market Size, Share & Industry Analysis, By Product (Polyurethane, PolyethyleneTterephthalate, Epoxies, Cellulose Acetate, Others), By Application (Pipe, Profile, Insulation, Others) and Regional Forecast, 2024-2032.” The growing environmental concerns are predicted to foster healthy growth of the market during the forecast period.
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The bio-based construction polymers market report encompasses:
- Complete evaluation of the market
- Valuable insights into the segments
- Latest trends and important drivers
- Leading regions
- Competitive analysis
Market Driver:
Rising Demand for Eco-friendly Polymers to Incite Business Development
The shift from traditional polymers to bio-based polymers is expected to have an excellent impact on the global market. The surging oil prices are expected to create opportunities for biopolymers in the forthcoming years, as traditional polymers are derived from petroleum feedstocks. The rising government support for the use of bio-based polymers is expected to enable speedy expansion of the market. The greenhouse gas emissions produced during the process of traditional polymers has led to the demand for bio-based polymers in the construction industry, in turn, stimulating the market.
However, the high production cost involved in the production of bio-based polymers is expected to thwart the development of the market. Moreover, the lack of availability of bio-based polymers is likely to dampen the growth of the market during the forecast period. Similarly, extensive use of traditional polymers is expected to further dwindle the expansion of the market.
The Report Lists the Main Companies in the Bio-based Construction Polymers Market:
- Evonik Industries
- BASF SE
- SK Chemicals
- DuPont
- Nature Works LLC
- Mitsubishi Gas Chemical
- Toyobo
- Bio-On
- Teijin Plastics
- PolyOner
Regional Analysis:
Favorable Government Regulations to Enhance Market in Europe
Geographically, the bio-based construction polymers market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is expected to expand owing to the heavy demand for bio-based construction polymers in the region. Asia Pacific is expected to expand substantially during the forecast period owing to the flourishing building & construction industry. Europe is likely to hold a significant share during the forecast period owing to the rising inclination towards bio-based polymers. The growing government regulation to curb carbon emissions is expected to augur well for the market. The Middle East & Africa is expected to grow exponentially due to the rising infrastructure development in the regions. Moreover, the increasing investment in enormous building projects and centers can further create opportunities for the market in the region.
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