Current and Future Industry Analysis of Construction Plastics Market is expected to reach $ 104,507 million by 2025
Construction and Construction Plastics Market Global Outlook, Trends and Huge Business Opportunities 2020 to 2025
PORTLAND, OR, UNITED STATES, October 21, 2021 /EINPresswire.com/ — Global building and construction plastics market was valued at $ 57,908.8 million in 2017 and is expected to reach $ 104,507 million by 2025, with a CAGR of 7.6%. The thermoplastics segment accounted for over three quarters of the market share in 2017 and is expected to experience significant growth during the forecast period.
Building and construction plastic is a polymer that makes infrastructure stronger, lighter and more durable. They are used for various purposes such as roofing, insulation, waterproofing, reinforcement and others. Hence, there is an increase in demand for plastic for building and construction due to the increase in construction projects around the world.
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The major players presented in this report are DSM, BASF, Chem Philips, DowDuPont Inc., INEOS Group Holdings SA, Lanxess, LG Chem Ltd., LyondellBasell Industries Holdings BV, SABIC and Solvay.
The characteristics of construction and construction plastics such as non-corrosive, extremely durable and available at an economical price are driving the growth of the world market. In addition, increased investment in interior design of residential and commercial properties is fueling the growth of the global market. However, the threat of substitute products, such as timber and others, is expected to hamper the growth of the market. Conversely, technological advancements such as the use of thermoplastic and thermosetting plastics in sanitary equipment, pipelines and formwork, as well as applications of bio-based and biodegradable plastics are expected to provide lucrative opportunities for the growth of the global plastics market for the market. building and construction.
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• Thermosetting plastic
• Window and door panel
Key Findings of the Building and Construction Plastics Market:
• On the basis of applications, the piping segment dominated the market in terms of revenue in 2017 and is expected to grow at a significant CAGR over the course of the year.
• Asia-Pacific generated the highest revenue in 2017, and LAMEA is expected to grow at the highest CAGR.
• The thermoplastics segment generated the highest revenue in 2017 and is expected to grow at a rate of 7.7%.
• In Asia-Pacific, China accounted for the largest market share in 2017.
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