Bio-based Construction Polymer Market to depict appreciable growth prospects over 2020-2026

Global Market Insights, Inc., announces an ongoing comprehensive report on the Bio-based Construction Polymer Market.

Sustainability stands as the major need of the hour today when natural resources are depleting while carbon emissions from fossil fuel usage is simultaneously rising at a rapid pace. Estimates claim that the world currently emits over 36 billion tons of CO2 every year, which is only expected to elevate in the upcoming years. This offers favorable opportunities for bio-based polymer industry players to come up with solutions to increase the adoption of renewable products across various end-user industries like construction, packaging, and others.

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Polyurethanes: leading from front

With the construction industry poised to witness lucrative growth rate of 85 per cent through 2030, the need for sustainable and renewable construction and building materials is considerably surging. Construction initiatives dependent on sustainable solutions are potentially driving the demand for advanced materials possessing impressive energy efficiency and reduced carbon footprint. An appropriate step within this trend is the use of bio-based materials, here bio-based polyurethane foam.

Bio-based polyurethane is produced from biopolyols or natural oil polyols, that are derived from vegetable oils by vivid methods and techniques. Numerous researches suggest that physical attributes of bio-based polyurethanes is quite similar the conventional polyurethane derived from crude oil. Moreover, consumers are gradually shifting their interests from traditional products obtained from petroleum to bio-based green products as a green status, which is emerging as a USP for vivid brands globally.

Usually, bio-based polyurethanes are used as insulation in buildings and construction and are witnessing an upsurge in demand from the market across the Asia Pacific, US, and Europe due to increasing construction activities in the region.

It has been observed that the construction industry across Asia Pacific is currently recording a valuation of USD 4.95 trillion and is further estimated to reach USD 5.45 trillion by the end of 2021, driven by increasing migration and urbanization. This ultimately invokes the need for construction materials that are less toxic to environment. In fact, it has been reported that China stands as one of the largest CO2 emitters in the world followed the US, and Europe. In wake of this, it is extremely important to have materials that can help in reduction of carbon footprint to some extent.

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Moreover, bio-based construction polymer market across the region is also witnessing tremendous growth over the years owing to the increasing infrastructure activities and favorable bio based product governmental framework.

COVID-19 impact on bio-based construction polymers adoption

The ongoing COVID-19 pandemic has produced a dent to the global economy due to enforcement of lockdown in various countries, thereby restricting the production and sales of any essential or non-essential items. The impact has also been felt in the bio-based polymer market, as construction activities in various parts of the globe came to a halt for over 2 to 3 months. However, upliftment of lockdown and stabilization of global economy are anticipated to let bio-based construction polymer market witness an all new growth graph in the upcoming years.

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About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

This release was published on openPR.