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Asia Pacific Ionomer Resins Market for Construction Industry: Introduction
Transparency Market Research delivers key insights on the ionomer resins market for construction industry in Asia Pacific. In terms of revenue, the ionomer resins market for construction industry in Asia Pacific is estimated to expand at a CAGR of 5.5% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecast in its report on the ionomer resins market for construction industry in Asia Pacific.
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The ionomer resins market for construction industry in Asia Pacific is broadly affected by several factors, including usage of ionomer resins in various applications such as Wood Plastic Composite (WPC), lamination, glass interlayers, Building-integrated Photovoltaics (BIPV), and ceramic binders. Rise in demand for packaging in cosmetics and construction industries in Asia Pacific has led to the significant growth in usage of ionomer resins as a solvent. The growth in production and demand for WPC is also estimated to be the primary driver of the ionomer resins market for construction industry in Asia Pacific. Increase in application of ionomer resins in lamination and WPC, led by the rise in consumption of ionomer resins in the building & construction industry, and projected to augment the ionomer resins market for construction industry in Asia Pacific in the near future.
Asia Pacific Ionomer Resins Market for Construction Industry: Dynamics
Glass is widely used in buildings for its transparency and optical performance as well as resistance to the environment, such as wind, rain, and temperature variations. However, as a basic material, it is inherently brittle and has significant shortcomings for security applications.
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Laminated glass is used extensively in building and housing products and automotive and transport industries largely due to its advanced safety features. Laminated glass displays high-performance impact and bullet resistance capabilities as well as fragment retention performance. Therefore, instead of shattering on impact, it is held together by the interlayer, which reduces the safety hazard from the shattered glass fragments. The interlayer also provides a way to apply several other technologies and benefits such as coloring, sound dampening, resistance to fire, ultraviolet filtering, and other technologies that can be embedded in or with the interlayer.
Increase in construction activities in countries such as China, India, and Japan is expected to boost the demand for flooring, wall panels, cabinets, etc. This, in turn, is projected to drive the demand for lamination during the forecast period. The rise in demand for lamination in the building & construction industry, owing to benefits associated with its usage, such as higher durability and attractive appearances of surfaces, are likely to propel the ionomer resins market for construction industry during the forecast period. Additionally, lamination provides protection against harsh weather and external environmental factors such as ultra-violet radiation, high temperatures, acid rain, and pollution particles. These factors are predicted to boost the demand for lamination during the forecast period.
Petroleum-based epoxy and polyester-based thermoset resins can be used to produce high-quality polymer concrete. However, petroleum-based resources are finite. This has necessitated the development of thermoset bio-resins to be used as polymer concrete. Thus, availability of substitutes is projected to act as a major restraint for the ionomer resin market for construction industry during the forecast period.
Asia Pacific Ionomer Resins Market for Construction Industry: Prominent Countries
China dominates the ionomer resins market for construction industry in Asia Pacific. The market in the country is anticipated to expand at a CAGR of more than 4.5% during the forecast period. Increase in demand for WPC, lamination, glass interlayers, and Building-integrated Photovoltaics (BIPV) is driving the ionomer resins market for construction industry in Asia Pacific. Japan and South Korea are key countries of the ionomer resins market for construction industry in Asia Pacific. These countries are estimated to maintain their prominence in the region during the forecast period.
Rest of Asia Pacific also held vital share of the market in Asia Pacific in 2020. The presence of large numbers of ionomer end-users is driving the demand for ionomer resins in Rest of Asia Pacific.
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Asia Pacific Ionomer Resins Market for Construction Industry: Key Players
The ionomer resins market for construction industry in Asia Pacific is consolidated with the presence of key players. Prominent players operating in the Ionomer Resins Market for Construction Industry in Asia Pacific include DuPont de Nemours Inc., SK Geo Centric, Honeywell International Inc., Exxon Mobil Corporation, Solvay SA, LyondellBasell Industries Holdings B.V., 3M Company, and Brenntag SE.
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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