Polymeric materials derived from biomass such as agriculture feedstock (corn, potatoes, etc.) and other organic waste have a wide range of applications in the construction industry, owing to rising initiatives for developing green buildings. For instance, NatureWorks LLC, a company engaged in biopolymer production, offers biopolymer 'Ingeo' which is made from corn, cassava, sugar cane, and beets by fermentation process. Ingeo can be used for flooring, window shades, wall coverings, protective molding, etc. in the building & construction sector.
Market Dynamics:
- Increasing initiatives by government agencies towards development of green buildings are expected to boost demand for bio-based construction polymers over the forecast period. For instance, new building codes were released in November 2018, namely the 2018 International Green Construction Code (2018-IgCC). It is released by International Code Council, the Illuminating Engineering Society, the U.S. Green Building Council, and ASHRAE codes, which includes the use of sustainable materials while manufacturing windows, frames, and other materials. Therefore, bio-based construction polymers market is expected to grow significantly as it offers environmental friendly solutions over fossil fuel-based conventional polymers.
Market Outlook:
- Construction polymers derived from biomass are expected to gain major traction over the forecast period, owing to rising awareness regarding toxic nature of synthetic chemicals. Builders are focused on offering high quality bio-based construction polymers in order to expand their consumer base. For instance, Tate & Lyle offers 'STAR*POL' starch polymers. These are nonionic water-soluble polymers intended to use in building and industrial applications. Therefore, rising demand for sustainable materials in construction industry is expected to drive growth of the global bio-based construction polymers market over the forecast period.
- Moreover, increasing infrastructure activities in highly populated economies in Asia Pacific is expected to propel growth of the bio-based construction polymers market in the region over the forecast period. For instance, according to a report on infrastructure, published by India Brand Equity Foundation in January 2019, Government of India allocated US$ 92.22 billion in the Union Budget 2018-19, in order to boost infrastructure sector in the India. Moreover, as per the same source, India is expected to become the third largest construction market by 2022 globally. Therefore, demand for bio-based construction polymers is expected to rise in Asia Pacific region over the forecast period, owing to growth of the construction industry.
Key players:
- Key players operating in the global bio-based construction polymers market include, NatureWorks LLC, Koninklijke DSM N.V., KANEKA CORPORATION, Tate & Lyle, Mitsubishi Chemical Corporation, Synbra Technology bv, Corbion N.V., Hiusan Biosciences, and Cardolite Corporation.
Market Taxonomy:
On the basis of product type, the global bio-based construction polymers market is segmented into:
On the basis of application, the global bio-based construction polymers market is segmented into:
- Profile
- Insulation
- Pipes
- Others (Concrete Molds, Glazing Sealants, etc.)
On the basis of region, the global bio-based construction polymers market is segmented into:
- North America
- South America
- Brazil
- Argentina
- Rest of South America
- Europe
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- ASEAN
- Australia
- Rest of Asia Pacific
- Middle East & Africa
