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Bio-based construction polymers are derived from natural sources and are likely to reduce the amount of plastic waste on the planet. These materials are sourced from renewable sources such as plant starch, cellulose, vegetable fats and oils, insects, and other biomass sources. All the bio-based polymers used for construction application are not necessarily degradable. Use of bio-based polymers in construction applications is being promoted due to their environmental friendly nature. Owing to the regulations on the use of traditional plastics, various companies are focusing on development of biopolymers for the use in construction industry.
The market for bio-based construction polymers is driven due to the rising demand for biopolymers from construction industry. Traditional polymers are derived from petroleum feedstocks and the constant variations and rise in the prices of oil has stimulated the interest towards the use of biopolymers. The eco-friendly nature of bio-based polymers and the government regulations on the greenhouse gas emissions during the production of traditional polymers has led to the increased demand for bio-based polymers from construction application, thereby acting as market driver.
Key Market Driver -
Rising demand from construction industry
Key Market Restraint -
High production cost of bio-based polymers
The high production cost of bio-based polymers is expected to act as a market restraint for the global bio-based construction polymers market. Biopolymers are derived from natural sources and the processing of those derivatives into a suitable intermediate increases the cost of production. Additionally, the less developed production and supply value chain of bio-based construction polymers compared to that of petroleum-based products, is expected to hinder the growth of the market.
Based on products, the market for bio-based construction polymers is segmented into polyurethane, polyethylene terephthalate, epoxies, cellulose acetate, and others. Based on application, the market is segmented into pipe, profile, insulation, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Some of the key players in the bio-based construction polymers market includes, Evonik Industries, BASF SE, SK Chemicals, DuPont, Nature Works LLC, Mitsubishi Gas Chemical, Toyobo, Bio-On, Teijin Plastics, PolyOner, and other key players.
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The bio-based construction polymers market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to witness rise in demand for bio-based construction polymers due to the environment friendly nature of these bio-based polymers. In Europe, regulations imposed by the government regarding carbon emissions during the production of petroleum-based polymers will increase the demand for bio-based polymers for construction application. Rising building & construction activities in Asia Pacific will be responsible for the growth of bio-based construction polymers market. In Latin America, and the Middle East & Africa, the growth of bio-based construction polymers market will be due to the increasing preference towards the use of bio-based polymers.
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