The global bio-based construction polymers market size is driven by its rising demand from the construction industry. Increasing concerns by the government on the waste disposable and programs related to LEED certification and IGCC is set to boost product demand. Fossil fuel use in various industries has led to greenhouse emissions. Increasing investments in the R&D activities for such polymers is predicted to drive market growth and opportunities. Growing carbon emissions in the large-scale manufacturing units is expected to propel market growth for bio-based construction polymers. Fortune Business Insights™ mentioned this in a report titled, “Bio-Based Construction Polymers Market, 2024-2032”.
Source: https://www.fortunebusinessinsights.com/bio-based-construction-polymers-market-102738
Bio-based construction polymers are made from natural resources which are likely to reduce the usage of plastic waste. They are derived from renewable sources such as vegetable fats, cellulose, oils, plant starch, and other biomass sources. There has been focus on usage of bio polymers in the construction activities.
COVID-19 Impact: Halt on Construction Sector to Hamper Market Growth
The COVID-19 pandemic, the global bio-based construction polymers market has been affected negatively. The closure of manufacturing facilities led to supply chain disruptions for many manufacturers operating in the market. Halt on the construction activities led to a cessation in the usage of the products related and used in the sector as well.
Segmentation
Based on products, the market is divided into polyethylene terephthalate, cellulose acetate, polyurethane, epoxies, and others. On the basis of application, the market is segmented into profile, pipe, insulation, and others. Geographically, the market is divided into regions such as North America, Latin America, Asia Pacific, Europe, and Middle East & Africa.
Report Coverage
This report covers the summary of this market that provides an analysis of product, impact of COVID-19, segmentation, drivers and restraints, regional insights, new growths, and presence of key players in the market. Changes in the market are subjected to alter the demand in the forecast period.
Drivers & Restraints
Increasing Demand for The Product in Construction Sector to Inflate Market Growth
Increasing demand for bio-based construction polymers from the construction sector for activities. Traditional polymers obtained from petroleum feedstocks and variations has led to the product demand. Eco-friendly nature of such polymers and government regulations regarding the carbon emissions are expected to drive the sponge cloth market growth. Increasing R&D activities for development of renewable products has increased the demand for bio-based polymers.
Regional Insights
Demand for Environment-friendly Products in North America to Propel Industry Growth
North America to hold the largest part in the global bio-based construction polymers market share due to rise in the demand for such polymers. The demand is due to environmental friendly nature of these polymers.
Competitive Landscape:
Players of the market have launched new products in the market to have more competition in the market with their advanced solutions. It includes R&D investments, launch of new and advanced products in the market. Companies have been applying strategies such as partnerships, mergers, and acquisitions to back their market position.
