Overview and Scope
Construction plastics are a type of polymer material used in construction activities to provide versatility, excellent strength-to-weight ratio, cost-effectiveness, low maintenance, and corrosion resistance. Due to their greater cost-effectiveness, weight-to-strength ratio, and ease of application, plastics are progressively displacing traditional construction materials.
Sizing and Forecast
The construction plastics market size has grown strongly in recent years. It will grow from $101.79 billion in 2023 to $109.84 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to increased need for building renovations and repairs, construction and infrastructure projects, increased need for green building and sustainability, increased regulatory compliance, and urbanization and population growth
The construction plastics market size is expected to see strong growth in the next few years. It will grow to $153.04 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to increasing digital construction workflows, circular economy practices, construction safety standards, emerging market growth, and growing adaptation to changing climate conditions. Major trends in the forecast period include utilization of lightweight and durable plastic materials, thermoplastic roofing, integration of smart plastic materials with sensors and data connectivity, soundproofing plastics, innovative solutions, and strategic collaborations.
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Segmentation & Regional Insights
The construction plastics market covered in this report is segmented –
1) By Type: Polyethylene, Polypropylene, Polyvinyl Chloride
2) By Application: Insulation Materials, Pipes, Windows & Doors
3) By End-User: Non-Residential, Residential
Asia-Pacific was the largest region in the construction plastics market in 2023. The regions covered in the construction plastics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
An increase in the building and construction and infrastructural standards is one of the major factors driving the growth of the construction plastic market. Emerging markets that registered robust construction activity included China, Brazil, India, Saudi Arabia, and Indonesia. According to the Global Market Model (GMM), the global construction market will grow from $12.52 trillion in 2021 to $17.60 trillion in 2026, at a CAGR of 7.0%. The global construction plastics industry is growing in popularity as infrastructural standards become more sophisticated. Despite widespread disapproval of plastic use, the construction industry’s need for plastics remains uninterrupted due to their lightweight, ease of handling, and low maintenance properties. Furthermore, the worldwide market has reaped enormous profits due to the lack of substitutes for high-quality plastics. Thus, rapid growth in the building and construction and infrastructural standards is expected to contribute to the construction plastics market growth.
Key Industry Players
Major companies operating in the construction plastics market include BASF SE, Asahi Kasei Corporation, Dow Inc., LyondellBasell Industries Holdings B.V., Borealis AG, Solvay SA, Saudi Basic Industries Corporation, Berry Plastics Corporation, TotalEnergies SE, Excelite Alliance Private Ltd., Ach Foam Technologies LLC, AEP Industries Inc., Chevron Phillips Chemical Company LLC, China Petrochemical Corporation, Engineered Profiles LLC, Formosa Plastics Corporation, Saint-gobain SA, Exxon Mobil Corporation, LG Chem Ltd., Braskem SA, Arkema SA, Covestro AG, Mitsubishi Chemical Corporation, Sumitomo Chemical Co Ltd., Eastman Chemical Company, Huntsman Container Corporation, Shin-Etsu Chemical Co Ltd., Geberit AG, Uponor Corporation, Wavin B.V., Pipelife International GmbH, REHAU AG + Co
The construction plastics market report table of contents includes:
1. Executive Summary
- Construction Plastics Market Characteristics
- Construction Plastics Market Trends And Strategies
- Construction Plastics Market – Macro Economic Scenario
- Global Construction Plastics Market Size and Growth
. - Global Construction Plastics Market Competitive Benchmarking
- Global Construction Plastics Market Competitive Dashboard
- Key Mergers And Acquisitions In The Construction Plastics Market
- Construction Plastics Market Future Outlook and Potential Analysis
- Appendix
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