Market Overview & Regional Analysis
North America leads the global market with a 38% share, driven by robust infrastructure investments and strict environmental regulations. The region benefits from advanced recycling infrastructure and substantial government support for sustainable construction practices. Meanwhile, Asia-Pacific is emerging as the fastest-growing market, expanding at a 6.8% CAGR, thanks to rapid urbanization and massive infrastructure projects in China, India, and Southeast Asia.
Europe remains a key player, with its strong regulatory framework promoting bio-based formulations through initiatives like the EU's Circular Economy Action Plan. Latin America and Africa, though facing logistical challenges, show promising potential due to increasing infrastructure modernization efforts and urbanization trends.
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