Pune, India -- (SBWire) -- 05/07/2019 --The latest report on Bio-based Construction Polymers Market by Infinium Global Research gives complete coverage of the bio-based construction polymers market by application (profile, insulation, pipe, and others), product (epoxies, polyethylene terephthalate (PET), polyurethane (PUR), cellulose acetate (CA), and others) in terms of key trends, market size, forecast and CAGR 10.4% growth over the period of 2018 to 2024. In addition, the study covers deep dive into key product and applications trends in the regional markets of bio-based construction polymers such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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Bio-based Construction Polymers Market: Insights
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 materials, reuse product components, and reduce dependence on fossil fuels.
Bio-based Construction Polymers Market: Drivers and Restraints
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 it's 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.
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Bio-based Construction Polymers Market: Regional Analysis
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.
Bio-based Construction Polymers Market: Segmentation
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.
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Bio-based Construction Polymers Market: Competitive Landscape
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.
Report Findings
1. Drivers
- Increasing Awareness about Environmental Impacts of Petroleum-based Construction Polymers.
- Reduces the Dependence on Fossil Fuels.
2. Restraints
- Low Awareness about Bio-based Products.
- Existing Use of Traditional Petroleum-based Polymers in Construction.
3. Opportunities
- Rising Programs that aim at Decreasing Energy Usage and Carbon Footprints.
