Portland, OR, May 16, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global building and construction plastic market is expected to generate $104.51 billion by 2025, from $57.91 billion in 2017, registering a CAGR of 7.6% from 2018 to 2025. The research offers an extensive analysis of major investment pockets, key segments, changing industry dynamics, market size & estimations, and competitive scenario.

Increase in residential and non-residential activities and surge in usage of plastic owing to its physical and low-cost properties facilitate the growth in the market. However, threats posed by substitutes, upsurge in environmental concerns, and strict regulatory policies hinder the market growth. Contrarily, increase in implementation of green building practices along with surge in recycled plastic usage in the construction industry is expected to open new pathways in the industry.

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Thermoplastic segment to become a lucrative segment by 2025

Thermoplastic segment accounted for more than 90% of the total share in terms of revenue in 2017 and is expected to maintain its dominant position by 2025. In addition, this segment is expected to grow at the fastest CAGR of 7.7% during the forecast period. This is due to its properties including low cost, electrical insulation, heat resistance, and ease in molding. The research also analyzes the thermoset plastic segment.

Piping segment to grow at the fastest CAGR during the forecast period

The piping segment held the lion’s share, contributing nearly one-third of the total share in 2017, and will continue to dominate throughout the forecast period. It is expected to register the fastest CAGR of 8.7% from 2018 to 2025, owing to increase in demand from different industries such as automotive, air conditioning, medical, aeronautical engineering, and others. The report also explores segments such as flooring, window & door panel, siding, insulation, roofing, and others.

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Asia-Pacific to maintain its dominance in terms of revenue by 2025

Asia-Pacific accounted for nearly half of the total share in 2017, and will maintain its dominance by 2025, owing to increase utilization of plastics for producing pipe, insulation, flooring, cladding, and other various materials.

Leading industry players

The leading players analyzed in the research include DSM, BASF, Chem Philips, DowDuPont Inc., INEOS Group Holdings S.A., Lanxess, LG Chem Ltd., LyondellBasell Industries Holdings B.V., SABIC, and Solvay.

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