Bio-based polymers are eco-friendly and provide durability that improves performance in various applications. This material contains carbon originating from a renewable plant source and thus reduces the use of fossil fuels.
Increasing need for green friendly polymers on account of a strong alter in the trend towards reducing reliance on petroleum-based polymers has urged the industry participants to shift towards bio-based polymers.
Governmental bodies such as the REACH and EPA have implemented stringent rules and guidelines regarding plastic waste disposal. Increasing dependency on petrochemicals as well as polymers & plastics has led to mass degradation of the environment. This, in turn, has led to an increase in the regulations being implemented by government and various other regulatory bodies globally.
Regulatory bodies have laid effective guidelines for the commercialization of bio-based products. U.S. Department of Agriculture (USDA) states that when public institutions are seeking to procure products including construction materials, these materials must contain a minimum content of renewable raw materials in order to be classified as “Bio-Preferred”.
In the case of thermal insulation for wall construction, rigid foam (spray foam or foam board) is required to contain at least 8% bio-based content to attain the “Bio-Preferred” classification. Such regulations favor further expansion of the bio-based polyurethane market in the region. These regulations restrict the use of conventional polyurethane, and hence create prospects for bio-PU market growth.
The IgCC (International Green Construction Code) is a model code that includes sustainability measures for a construction project and the site. This code is anticipated to make buildings reduce waste, more efficient, and have a positive impact on health, safety and community welfare.
Globally, numerous chemical manufacturers are shifting their focus to using renewable chemicals and environmentally friendly materials in their products. This shift has been driven by fluctuating raw material prices and various regulations implemented by regulatory bodies such as EPA and REACH for a sustainable environment.
In-depth report on global bio based construction polymers market by Grand View Research: