Construction Plastics Market To Reach USD 128.12 Billion By 2026 | Reports And Data
3 June 2019
Increasing urbanization, growing construction industry, demand for lightweight and low maintenance construction materials are key factors contributing to high CAGR of construction plastics during forecast period.
Market Size – USD 75.6 Billion in 2018, Market Growth - CAGR of 6.9%, Market Trends – Product launches and research for advanced plastics
NEW YORK, June 03, 2019 (GLOBE NEWSWIRE) -- According to the current analysis of Reports and Data, the global construction plastics market was valued at USD 75.6 Billion in 2018 and is expected to reach USD 128.12 Billion by year 2026, at a CAGR of 6.9 %. The study covers in depth usage of plastic used in the construction sector. Plastic is a safe, lightweight and cheap material used in the construction sector. It is extensively used in residential and non-residential constructions. Plastic in construction are primarily used for seals, profiles (windows and doors), pipes, cables, floor coverings, and insulation.
The global market is propelled by number of factors such as technological advancements in infrastructural sector in developing sector, cost effectiveness of plastic, adoption of green building practices, increasing urbanization. In addition to this, various government initiatives to improve building structures are projected to increase the growth of this market. However, continuous changes in the prices of raw materials especially crude oil and threat of slowdown of global economy are major hindrance for the market growth during the period 2019-2026.
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Further key findings from the report suggest
- Plastic is widely used in the construction sector because of its unique characteristics such as sustainability, cost efficiency, effective insulation, durability, resistance to corrosion, fire resistance, less maintenance. Thus, this has made plastic an economically attractive option everywhere in the construction sector
- BASF AG, German chemical company, launched a new innovative insulation material Neopor® in 2018. Neopor® is comprised of small black beads of polystyrene (EPS) containing blowing agent, which makes it expandable. BASF produces this unique material, which is processed by foam manufacturers into insulating materials for a wide range of different applications.
- Based on application, Pipes segment is anticipated to be the largest segment of the market. Pipes are composed of lightweight materials and plastics. The market is driven by number of factors such increasing demand for lightweight materials and major qualities that plastic possesses such as thermal conductivity, durability, scratch resistance. It holds 71.4 % of the total market share in construction plastics.
- Window & doors account for 20.4% of the total market share whereas insulation materials hold 8.3% of the total market share in construction plastics
- Asia Pacific is projected to dominate the global construction plastics market because of increasing infrastructural development in major economies such as China and India. Current industrial development is giving boost to the demand for industrial PVC floorings, roofing sheets, fences and 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 growth of construction plastics in this region
- North America is one of the leading regional market and acquired approximately 38% of the total market share. Increasing residential areas in U.S and Canada are the key factors for the growth of construction plastic market
- In comparison to North America and Asia Pacific regions, Europe is expected to have a lower market share owing to its tight environmental regulations that restrict the use of plastics in the construction sector. Europe holds 11.4% of the total market share
- The plastic type contains Polyvinyl Chloride, Polypropylene, Polyethylene, Expanded Polystyrene. Polyvinyl chloride (PVC) segment is expected to dominate the demand for construction plastics during the forecasted period. It holds 57.1 % of the total market share. Because of its lightweight, easy to mold and recyclability, no other cost-effective substitute, PVC has become a popular option
- Polypropylene is the second largest segment in the global construction fabrics market which accounts 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 wraps; plastic parts included in piping
- Key players in construction plastics market include DowDuPont, BASF SE, Asahi Kasei Corporation, LyondellBasell Industries Holdings B.V., Borealis AG, Solvay S.A., Saudi Basic Industries Corporation (SABIC), and Total S.A
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/construction-plastics-market
Segments covered in the report:
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, USD Million; 2016–2026)
- Polyvinyl Chloride
- Expanded Polystyrene
Application (Revenue, USD Million; 2016–2026)
- Windows &Doors
- insulation materials
Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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