Non-convertible Binders Market Is Gaining Huge Traction Due to Rapid Growth of the Construction Industry
Non-convertible binders are composed of organic materials such as resins, varnishes that contain fatty acids, and other synthetic polymers. These binders are polymerized before an application but are mixed or dissolved in a medium that evaporates after the coating is applied. Growth of the non-convertible binders market is mainly driven by the rapid growth of the construction industry in both developed and developing economies. According to the Institution of Civil Engineers (ICE), the United Kingdom, the global construction industry is expected to reach US$ 15.5 trillion by 2030. Moreover, several governments around the world are investing or taking initiatives for the development of smart infrastructure, which in turn increases the demand for non-convertible binders. For instance, during 2019-23, the government of India plans to spend US$ 1.4 trillion on infrastructure to have a sustainable development of the country. In recent years, the non-convertible binders market has a...