Building and Construction Plastic Market Is to Reach $104,507 Mn by 2025 | CAGR 7.6%

According to a new report published by Allied Market Research, titled,"Building and Construction Plastics Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global building and construction plastic market was valued at $57,908.8 million in 2017 and is projected to reach $104,507 million by 2025, growing at a CAGR of 7.6%. The thermoplastic segment accounted for more than three-fourths of the market share in 2017 and is expected to witness significant growth during the forecast period.

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Building and construction plastic is a polymer that makes the infrastructure stronger, lighter, and sustainable. They are used for various purposes such as roofing, insulation, waterproofing, reinforcement, and others. Therefore, there is an increase in demand of the building and construction plastic due to rise in construction projects globally. In addition, these plastics help enhance the beauty of the project at a low cost; hence, expected to propel the growth of the global building and construction plastic market. However, inability of some building and construction plastics to withstand cold conditions, softening at higher temperatures, and weakening & formation of fading appearances due to exposure to UV rays hamper the market growth.

The features of building and construction plastics such as non-corrosive, extremely durable, and available at an economical rate drive the growth of the global market. Furthermore, rise in investment in interior designing of residential as well as commercial properties fuels the growth of the global market. However, threat of substitute products, such as wood and others, is expected to hinder the market growth. Conversely, technological advances such as use of thermoplastic and thermosetting plastic in sanitary equipment, piping, and shuttering along with applications of bio-based and biodegradable plastics are expected to provide lucrative opportunities for the growth of the global building and construction plastic market.

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Building and construction plastics are the key factors that make the infrastructure stronger, lighter, and sustainable. These are used for various purposes such as roofing, insulation, waterproofing, reinforcement, and others. There is an increase in demand for the material, owing to rise in construction projects across different regions of the world. In addition, these plastics help enhance the beauty of the project at low cost; hence, expected to propel the growth of the building and construction plastics market.

Key Findings of the Building and Construction Plastics Market:

Based on application, the piping segment dominated the market in terms of revenue in 2017 and is projected to grow at a significant CAGR during the forecast period.
Asia-Pacific generated the highest revenue in 2017, and LAMEA is anticipated to grow at a highest CAGR.
The thermoplastics segment generated the highest revenue in 2017 and is estimated to grow at the rate of 7.7%.

In Asia-Pacific, China accounted for the largest market share in 2017.
The key players profiled in this report include DSM, BASF, Chem Philips, DowDuPont Inc., INEOS Group Holdings S.A., Lanxess, LG Chem Ltd., LyondellBasell Industries Holdings B.V., SABIC, and Solvay.

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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