Construction Plastics Market Size Expected To Reach $ 147.33 Billion By 2028 | Reports and data
Growing urbanization and low maintenance building materials are key factors contributing to the high CAGR of building plastics during the forecast period.
NEW YORK CITY, NY, UNITED STATES, December 11, 2021 /EINPresswire.com/ – Based on current analysis of reports and data, the construction plastics market was valued at $ 87.11 billion in 2020 and is expected to reach $ 147.33 billion by 2028, at a CAGR of 6.9%. The study focuses on the extensive use of plastic used in the construction industry. Plastic is a safe, lightweight and inexpensive material used in the construction industry. It is widely used in residential and non-residential construction. Plastic in construction is mainly used for joints, profiles (windows and doors), pipes, cables, flooring and insulation.
The global market is propelled by a number of factors such as technological advancements in infrastructure sector in developing sector, profitability of plastic, adoption of green building practices, increasing urbanization. In addition to this, various government initiatives to improve the structures of buildings are expected to increase the growth of this market. However, the continuous changes in the prices of raw materials, especially crude oil, and the threat of global economic downturn are a major obstacle to the growth of the market during the period 2019-2028.
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The main players in the construction plastics market are DowDuPont, BASF SE, Asahi Kasei Corporation, LyondellBasell Industries Holdings BV, Borealis AG, Solvay SA, Saudi Basic Industries Corporation (SABIC) and Total SA
Other key findings from the report suggest
Plastic is widely used in the construction industry due to its unique characteristics such as durability, cost efficiency, effective insulation, durability, corrosion resistance, fire resistance, less maintenance. Thus, this has made plastic an economically attractive option anywhere in the construction industry.
BASF AG, the German chemical company, has launched an innovative new insulation material NeoporÂ® in 2020. NeoporÂ® is made of small black polystyrene (EPS) beads containing blowing agents, which makes it stretchable. BASF produces this unique material, which is processed by foam manufacturers into insulation materials for a wide range of different applications.
On the basis of the applications, the pipe segment is expected to be the largest segment of the market. The pipes are made of lightweight materials and plastics. The market is driven by a number of factors such as the growing demand for lightweight materials and the main qualities of plastic such as thermal conductivity, durability, scratch resistance. It holds 71.4% of the total construction plastics market share.
Windows and doors account for 20.4% of the total market share while insulating materials hold 8.3% of the total construction plastics market share.
Asia-Pacific is expected to dominate the global construction plastics market due to increasing infrastructure development in major economies such as China and India. Current industrial development is driving the demand for PVC flooring, roofing sheets, fencing and industrial doors. It holds 41.5% of the total market share in the global construction plastics market. Availability of cheap labor, supportive government policies, abundant natural resources are promoting the growth of building plastics in this region
The plastic type contains polyvinyl chloride, polypropylene, polyethylene and expanded polystyrene. The polyvinyl chloride (PVC) segment is expected to dominate the demand for construction plastics during the forecast period. It holds 57.1% of the total market share. Due to its light weight, ease of molding and recyclability, no other cost effective substitute, PVC has become a popular option.
Polypropylene is the second largest segment of the global construction fabrics market, accounting for 30.6% of the total market share. It is widely used in siding, air and moisture barrier membranes, films and sheets used in insulating building envelopes; plastic parts included in the piping
North America is one of the main regional markets and has acquired around 38% of the total market share. The increase in residential areas in the United States and Canada is the key factor in the growth of the construction plastics market
Compared to North America and Asia-Pacific regions, Europe is expected to have a lower market share due to its strict environmental regulations that restrict the use of plastics in the construction industry. Europe holds 11.4% of the total market share
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For the purpose of this report, Reports and Data has segmented the Construction Plastics market on the basis of type, application, and region:
Type (Revenue, Million USD; 2020-2028)
Application (Revenue, Million USD; 2020-2028)
Windows and doors
Regional Outlook (Revenue USD Million; 2020-2028)
Middle East and Africa
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Major Points Covered in the Global Construction Plastics Market Report:
Market Coverage: This section of the report provides significant details on key aspects of the market including key market segments, scope of product innovation, and macro and micro economic growth indicators. Further, the report segments the global construction plastics market on the basis of product type, technology landscape, and range of applications.
Executive Summary: In this section, the global market growth rate, competitive landscape, drivers and restraints, trends, limitations and key market segments have been discussed.
Regional Analysis: In this section, the latest report brings out the extensive global presence of the Construction Plastics Market. This section offers key insights on the latest trends in regional markets including North America, Asia Pacific, Europe, Latin America, Middle East & Africa.
Competitive Landscape: This section of the report highlights the major players in the global Construction Plastics Market. It further emphasizes the main products and services offered by these companies.
Manufacturer Portfolios: This section includes detailed information about each local and global manufacturer’s product portfolio, their strengths and weaknesses, product catalog, production value and capacity, and other vital information.
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