Bio-based polymers are materials manufactured from renewable resources. They are highly preferred in construction applications due to the rise in demand for non-fossil fuel based polymers. Earlier, bio-based polymers would be derived from agriculture feedstock such as potatoes, corn, and other carbohydrate feedstock. However, advancement in bio-technology led to the production of bio-based polymers through the bacterial fermentation process from renewable resources such as starch, cellulose, fatty acids, and organic waste.
Increase in environmental concerns across the world has boosted the usage of bio-based polymers, as they majorly contribute toward reducing the dependency on fossil fuels. This, in turn, helps lower carbon dioxide footprints. Rise in R&D activities for the development of eco-friendly products has accelerated the use of bio-based polymers in construction. Furthermore, implementation of favorable government regulations and initiatives in various countries for the usage of bio-based polymers has been augmenting the market since the last few years. Bio-based polymers are not entirely endowed to gain the advantage of economies of scale. Therefore, high production cost is anticipated to inhibit the market growth during the forecast period.
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The bio-based construction polymers market can be segmented based on type, application, and region. Epoxies, cellulose acetate, polyurethanes (PUR), polyethylene terephthalate (PET), polyethylene (PE), and others are among the major types of bio-based construction polymers. The others category comprises polylactic acid (PLA), polyamides (PA), polytrimethylene terephthalate (PTT), polybutylene succinate (PBS), and starch blends. The epoxies segment is anticipated to account for major share of the bio-based construction polymers market during the forecast period due to its wide range of applications such as wood & concrete repair, adhesives, and paints & coatings. Significance of insulation in the construction industry is likely to drive the polyurethane segment during the forecast period. PLA acts as a pre-foaming agent, binder, suspending agent, foaming agent, and coating adhesive that offers added advantage. This is estimated to propel the segment during the forecast period.
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Prominent applications of bio-based construction polymers include pipe, insulation, profile, and others. The others segment includes FRP bridge section, concrete molds, glazing sealants, cladding panels, and anchor fixings. The pipe segment constitutes key share of the market, led by the lightweight, durability, and corrosion resistance properties of bio-based construction polymers. These polymers are typically used in construction applications such as building panels, roofing, sealants & adhesives, and flooring. Rise in usage of profiles and frames produced from bio-based polymers in bridge engineering and other composites structures is projected to propel the bio-based construction polymers market during the forecast period.
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In terms of geography, Asia Pacific is anticipated to lead the global bio-based construction polymers market. Middle East & Africa is also expected to offer significant opportunities to the bio-based construction polymers market owing to the increase in construction activities and infrastructural growth in the region. Furthermore, implementation of favorable government regulations and policies is projected to augment the building & construction industry in the region. The bio-based construction polymers market in North America and Europe is estimated to expand at a moderate pace due to the less number of construction activities vis-à-vis those in emerging economies.
The bio-based construction polymers market is in the nascent stage. Thus, it is considered to be highly competitive. The market is dominated by large players. Various development strategies such as mergers & acquisitions, joint ventures, and new product launches are likely to be implemented during the forecast period.
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Key players operating in the bio-based construction polymers market include E. I. du Pont de Nemours and Company (the U.S.), Covestro (Germany), BASF SE (Germany), Bio-On SpA (Italy), Kaneka Corporation (Japan), .