Construction Plastics Market: Global Industry Analysis and Forecast (2024-2030)

Construction Plastics Market Overview:

Construction Plastics Market report examines the market's growth drivers as well as its segments. Data has been provided by market participants, and regions (North America, APAC, Europe, MEA, and South America). This market study takes an in-depth look at all of the significant advancements that are currently occurring across all industry sectors. To provide key data analysis for the historical period (2017-2020), statistics, infographics, and presentations are used. The report examines the Construction Plastics markets, Drivers, Restraints, Opportunities, and Challenges. This SMR report includes investor recommendations based on a detailed analysis of the current competitive landscape of the Construction Plastics market.

 

The increased use of plastics in a wide range of building applications, including as plumbing, insulation, interior design, and window frames, is driving the Construction Plastics market revenue growth. Plastic materials are becoming more popular in the construction sector due to their adaptability, durability, low maintenance, corrosion resistance, cost-effectiveness, and excellent strength-to-weight ratio.

 

Plastics are great for applications such as pipelines and window frames due to their durability. Plastics' anti-corrosion characteristics aid in the longevity of plastic pipes and underground external wires. Plastics focus on providing high insulation from cold and heat which helps to avoid energy loss and save money while also lowering noise pollution. The safe and sanitary transfer of water made possible by plastic pipes is gaining in favor.

 

Construction plastics are a type of polymer created specifically for the construction industry. They're utilized in cladding and roof membranes, flooring, flooring and wall coverings, cables, insulation, plumbing, and door and window panels, among other things.

By the end of 2021, the worldwide building and construction plastics market is expected to be worth US$ 92.29 billion and have a volume of 61,333.33 metric tonnes.

 

 

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Construction Plastics Market Dynamics:

One of the primary factors responsible for the growth of the building and construction plastic market is the expansion of the construction industry. Growing urban population along with changing consumer lifestyles, particularly in developing countries such as China and India, is increasing demand for infrastructure, which is supporting the expansion of the building and construction plastic market throughout the forecast period.

 

The market is estimated to rise due to increased plastic consumption and production as a result of rising demand from various end-user industries. Building and construction plastic market growth is projected to be aided by advancements in polymer production technologies. Furthermore, rising awareness of the benefits of polymers, such as durability, corrosion resistance, and high strength, is driving up demand.

 

Green building techniques and an increase in the usage of recycled plastics in construction are also predicted to present profitable chances for the global market's expansion. Furthermore, due to rising demand for less expensive and long-lasting plastic products, the industry presents significant growth possibilities for Latin American and African countries.

 

The growing use of plastic tarpaulins and temporary covers during the building and renovation process to protect ongoing construction projects from dirt and weather is expected to propel market expansion. The introduction of plastic wrap technology aids in the reduction of outside air infiltration into normal dwellings by 10 to 50 percent. It also aids in reducing the amount of energy necessary to cool or heat a home. In the previous few decades, plastic films have lowered greenhouse gas emissions in the United States by as much as 120-600 million tonnes of CO2. Polyvinyl chloride is in high demand in the construction industry for pipes and window profiles, which is fueling market expansion.

 

Neopor is a new revolutionary insulating material developed by BASF SE. It is made up of little black Expanded Polystyrene (EPS) beads with a blowing agent that allows it to expand. Foam producers utilize this unique substance to create insulating materials for a variety of applications. During the projection period, however, variable costs of raw materials used in the manufacturing of construction plastics, severe controls on the use of certain plastic goods, and increased worries about environmental degradation caused by the use of plastics are projected to limit market expansion.

 

On the other hand, the construction industry is the second-largest consumer of plastics, accounting for 20 percent of all plastic trash. During the projection period, serious concerns about the use of plastics are projected to limit market growth. Plastic pollution is predicted to be increasing at a rate of 3% per year globally. Demands for circular economies and climate change mitigation are limiting the use of some types of plastics. Micro- and nano-sized plastics are found in marine life all around the world, leading to increased marine pollution.

 

Aside from that, the usage of construction plastics is being hampered by increased human health hazards as a result of the growing use of plastics in a variety of end-use sectors. Construction plastics demand would be influenced by the presence of rigorous laws regarding the use of specific plastic materials for construction purposes in order to reduce environmental deterioration. Furthermore, the building industry is transitioning away from single-use plastics and toward recycled plastics. This element is projected to provide profitable prospects for sustainable product manufacturers.

 

Construction Plastics Market Segment Analysis:

By Type, Polyvinyl chloride, polypropylene, polyethylene, and expanded polystyrene are the different types of construction plastics available. Due to numerous qualities such as lightweight, easy to mold, and recyclability, the polyvinyl chloride segment is expected to account for the largest market share in the global construction plastics market over the forecast period. When compared to other polymers, polyvinyl chloride is the most versatile, and it is increasingly used for pipes and fittings, flooring, window and door profiles, and roof membranes. Oils, weathering, greases, fungi, acids, and moisture are all resistant to this sort of plastic. It's also abrasion-resistant and self-extinguishing.

 

Polyvinyl chloride's flexibility and lightweight properties are boosting its use in pipe manufacture. Polyvinyl chloride gives good fusion integrity when pipes are linked appropriately. It also aids in the elimination of potential leak locations, which is increasing its use in the manufacture of plastic pipes. Furthermore, this plastic material is chemical and water resistant, making it suited for a variety of harsh situations. Polyvinyl chloride is used to create flooring that is less prone to tearing and wear while also reducing noise pollution. It is simple to clean. Polyvinyl chloride is appropriate for cabling applications because of its high flexibility, flame retardancy, and excellent electrical insulation qualities.

 

By Application, the construction plastics market has been divided into three segments based on application: windows and doors, pipes, and insulation materials. In the construction plastics market, the pipes segment is predicted to hold a large revenue share by 2027. Plastic pipes account for more than half of all new pipe installations, accounting for more than half of all annual tonnage. Plastics are good for use in pipes because of their durability. Plastic's anti-corrosion qualities assist extend the life of plastic pipes to over 100 years, compared to 50 years for subterranean external wires.

 

Plastic pipes are also lightweight, making them simple to install, operate, and maintain. These are extremely adaptable, allowing them to cope with soil movement. Polyvinyl chloride pipes' long-lasting performance reduces the requirement for fresh product development. Plastic pipes are widely used in plumbing, water service, fire protection, geothermal piping systems, hydronic heating and cooling, and snow melting, among other uses.

 

Construction Plastics Market Regional Insights:

In 2021, Asia Pacific was the top revenue provider. Infrastructure spending is anticipated to rise in the coming years as a result of increased urbanization and population growth. Over the next decade, the government project and infrastructure market in the region is predicted to grow at a rate of 8% per year. Infrastructure sector has become the primary focus area of the Government of India.

 

One of the most important markets for construction plastics is North America. The market is expected to be propelled by the expanding construction sector in nations such as the United States and Canada. During the projection period, rising demand for ancient building renovations is expected to boost the region's growth. Furthermore, industry trade associations in North America, such as the Plastics Industry Association and the National Association of Plastic Industries (ANIPAC), are working to promote the growth and development of plastics and their end uses.

 

With a revenue share of almost 80% in 2021, the United States led North America. Due to the high urban population, the construction industry in the United States is expected to increase in both commercial and non-commercial sectors.

 

Demand from Brazil and Chile is driving growth in Central and South America. The demand for development is increasing as the region's population grows. The product's demand is expected to be fueled by government investments in public infrastructure and rising commercial construction demand.

 

The report aims to provide industry stakeholders with a comprehensive analysis of the Construction Plastics market. The report includes the most dominant trends in the Construction Plastics market and how these trends affect new business investment and market development during the forecast period. The report also helps to understand the dynamics of the Construction Plastics market and the competitive structure of the market by examining market leaders, market followers, and regional players.

 

Qualitative and quantitative data provided in the Construction Plastics Market Report will drive market-influencing factors and industry and market growth, which market segments and regions are expected to grow at a faster rate. The forecast period is designed to help you understand the critical areas of opportunity to do. The report also includes the competitive landscape of key industry players, as well as recent developments in the Construction Plastics market. The report looks at factors such as company size, market share, market growth, sales, production, and profits of key players in the Construction Plastics market.

 

The document affords Porter's Five Force Model, which facilitates designing the enterprise techniques withinside the marketplace. The Report facilitates in figuring out what number of competitors are existing, who they are, and the way their product exceptional is withinside the Global Construction Plastics marketplace. The Report additionally analyses if the Global Construction Plastics marketplace is straightforward for a brand-new participant to benefit a foothold withinside the marketplace, do they input or go out the marketplace often if the marketplace is ruled via way of means of some Players, etc.

 

The document additionally consists of a PESTEL Analysis, which aids withinside the improvement of enterprise techniques. Political variables assist in identifying how an awful lot a central authority can have an impact on the Global Construction Plastics marketplace. Economic variables useful resource withinside the evaluation of monetary overall performance drivers which have an effect at the Global Construction Plastics marketplace. Understanding the effect of the encircling surroundings and the have an impact on of environmental issues at the Global Construction Plastics marketplace is aided via way of means of felony factors.

 

Construction Plastics Market Scope:

Construction Plastics Market
Market Size in 2023	USD 106.05 Bn.
Market Size in 2030	USD 172.53 Bn.
CAGR (2024-2030)	7.2 Percent
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	by Type             Polyvinyl chloride Polypropylene Polyethylene Expanded polystyrene
	by Application Windows and Doors Pipes Insulation Materials
Regional Scope	North America- United States, Canada, and Mexico   Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Construction Plastics Market Key Players:

• BASF SE (Germany)
• Chevron Phillips Chemical Company, LLC (U.S.)
• The Dow Chemical Company (U.S.)
• E. I. du Pont de Nemours and Company (U.S.)
• Ineos Group Holdings S.A. (U.K.)
• Lanxess Chemicals Company (Germany)
• LG Chem Ltd. (South Korea0
• Lyondellbasell Industries Holdings B.V (Netherlands)
• Reliance Industries Ltd. (India)
• SOLVAY S.A. (Belgium)
• PetroChina Co. Ltd. (China)