San Francisco, 13
November 2018: The global bio based construction polymers market is expected to reach USD 33.26 billion by 2024 according
to a new report by Grand View Research, Inc. Rising bio-based polymer demand in
various applications in the construction sector such as cladding panel, FRP
bridge section, and glazing sealant is expected to remain a key driving force
for the market growth.
Increasing regulatory
intervention to decrease the dependency on petrochemical products and to reduce
carbon and Green House Gas (GHG) emissions has driven end use industries to
adopt bio based products as a replacement to fossil fuel based polymer.
Policies such as Lead Market Initiative and Bio-preferred are anticipated to
encourage the use of bio-based raw material for polymer production.
High demand for epoxies
and cellulose acetate coupled with growing construction activities in emerging
economies of Asia Pacific and South America such as China, India, and Brazil
are anticipated to fuel industry growth significantly.
PLA and PHA are used to
develop various bio-based materials such as bio-based plastics and
thermoplastic composites that are used in decking, fences, and bridges in
building and construction industry. This is anticipated to propel the market
growth over the next eight years.
Access Research Report
of Bio Based Construction
Polymers Market @ www.grandviewresearch.com/industry-analysis/bio-based-construction-polymers-market
Further
key findings from the report suggest:
· The global bio based construction polymers
market demand was 4.88 million tons in 2015 and is expected to reach 11.64
million tons by 2024, growing at a CAGR of 10.2% from 2016 to 2024
· Epoxies accounted for over 24% of overall
market volume in 2015 owing to high demand from coatings and adhesive
application. Polymer modified bitumen emulsions are used to build roads and
facilitate to maintain asphalt quality.
· Pipe application segment dominated the
global demand and is anticipated to grow at a CAGR of 9.6% from 2016 to 2024.
The rising construction activities, particularly in India and China, may be
attributed to the high growth in this particular segment.
· Asia Pacific accounted for 31.5% of the
global demand in 2015 and is anticipated to witness the fastest growth over the
next eight years. The high growth may be attributed to growing infrastructure,
particularly in India and China.
· Bio based construction polymer market is
highly fragmented among small domestic companies and multinational players. Key
players in the market include Mitsubishi Gas Chemical, Tate & Lyle, DuPont
de Nemours, BASF, Toyobo, SK Chemicals, Bio-On, Nature Works, Synbra, Kaneka
TEPHA and Ube.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/renewable-chemicals
Grand View Research has
segmented the bio based construction polymer market on the basis of product,
application and region,
Global Bio Based Construction Polymer Product Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
·
Cellulose Acetate (CA)
·
Epoxies
·
Polyethylene terephthalate (PET)
·
Polyurethane (PUR)
·
Others
Global Bio Based Construction Polymer Application Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
·
Pipe
·
Profile
·
Insulation
·
Others
Global Bio Based Construction Polymer Regional Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
·
North America
·
Europe
·
Asia Pacific
·
Middle East & Africa
·
Central & South America
Access Press Release of
Bio Based Construction Polymers Market@ www.grandviewresearch.com/press-release/global-bio-based-construction-polymers-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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