NON-CONVERTIBLE BINDERS MARKET ANALYSIS
Market Dynamics:
The non-convertible binders market is expected to witness significant growth over the forecast period, owing to growth of the global construction industry. According to the Global Construction Perspectives and Oxford Economics, the global construction industry is expected to reach US$ 17.5 trillion by 2030, which is a US$ 8 trillion rise from 2015. Non-convertible binders also have advanced features such as cost-effectiveness, environment friendliness, and lower energy consumption, which are expected to drive end-use industries such as construction, automotive, and others towards the use of such materials. There is also an upsurge in demand of non-convertible binders from automotive industry, owing to increasing preference towards lightweight components due to changing dynamics towards e-vehicles, emission regulations, and automotive light weighting. All these factors are expected to drive growth of the non-convertible binders market over the forecast period.
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