Companies covered in bio-Based construction polymers market are Evonik Industries (Germany), BASF SE (Germany), SK Chemicals (South Korea), DuPont (U.S.), Mitsubishi Gas Chemical (Japan), Toyobo (Japan), Bio-On (Italy), Avient Corporation (U.S.), Teijin Plastics (U.S.), Other key players
Pune, India, Nov. 22, 2022 (GLOBE NEWSWIRE) — 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, 2022-2029”.
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 a focus on the usage of bio-polymers in construction activities.
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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 in construction activities led to a cessation in the usage of the products related and used in the sector as well.
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 Scope & Segmentation:
|Region Covered||North America, Europe, Asia Pacific, Latin America, Middle East & Africa, and the Rest of the World|
|Segments Covered||By Type : Size, Share & Industry Analysis, By Product (Polyurethane, Polyethylene Tterephthalate, Epoxies, Cellulose Acetate, Others), By Application (Pipe, Profile, Insulation, Others) and Regional Forecast, 2022-2029
|Bio-based Construction Polymers Industry Growth Drivers||Biopolymers are derived from natural sources and the processing of those derivatives into a suitable intermediate increases the cost of production.|
|polymers is driven due to the rising demand for biopolymers from construction industry.|
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List of Key Players Present in the bio-Based construction polymers Market
- Evonik Industries (Germany)
- BASF SE (Germany)
- SK Chemicals (South Korea)
- DuPont (U.S.)
- Mitsubishi Gas Chemical (Japan)
- Toyobo (Japan)
- Bio-On (Italy)
- Avient Corporation (U.S.)
- Teijin Plastics (U.S.)
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.
On the other hand, the high cost of production is expected to act as a limitation in the market growth. They are derived from natural resources and processing becomes time consumption and can increase the cost of production.
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.
Europe is anticipated to display considerable market growth due to increasing demand owing to rules and regulations imposed by the governments of the region. Increasing application of the product in the construction industry is set to propel market growth.
Asia Pacific is expected to showcase substantial growth due to growing demand from the construction activities.
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.
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