PUBLISHER: Grand View Research | PRODUCT CODE: 1553674
PUBLISHER: Grand View Research | PRODUCT CODE: 1553674
The global bio-based construction polymer market size is expected to reach USD 35.33 billion by 2030 according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 14.8% from 2024 to 2030. 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.