Construction Elastomers Market worth $6.7 billion by 2026 | Key players Arkema S.A, Asahi Kasei Corp, BASF SE, Dow, Covestro AG

According to recent market research "Construction Elastomers Market by Type (Thermoset and Thermoplastic), Chemistry (Styrene block copolymers, TPU, SBR, EPDM, Natural Rubber, IIR, ACM), Application (Residential, Non-residential, and Civil Engineering), and Region - Global Forecast to 2026", size is estimated to be USD 5.1 billion in 2021 and is projected to reach USD 6.7 billion by 2026, at a CAGR of 5.8% between 2021 and 2026.

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Residential is the largest application in the construction elastomers market. Construction elastomers are used in insulations, roofing sheets & window profiles gaskets, door handle seal, and adhesives in residential construction applications. The segment account for about 50% market share in terms of value in 2020. The sector experienced slow growth due to global economic slowdown. However, the segment is expected to recover in the forecast period. Moreover, focus on sustainable buildings and earthquake proof construction will provide new opportunities for construction elastomers manufacturer.

APAC accounted for the largest share in terms of volume and value of the construction elastomers market in 2020, followed by North America and Europe. The use of construction elastomers is expected to witness the highest growth in the APAC region during the forecast period. The market in this region is driven by the growth in the construction sector in China, India, and Southeast Asian countries. Global construction elastomers manufacturers are investing in APAC countries in establish their production plants to enhance their market presence in the region. China is the significant market for construction and the largest consumer of construction elastomers in the world. The growing residential construction in the region coupled with strong growth in the construction sector are expected to drive the market for construction elastomers in APAC region.

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The global thermoplastic elastomers market size is estimated to USD 5.1 billion in 2021 and is projected to reach USD 6.7 billion by 2026, at a CAGR of 5.8% between 2021 and 2026. The recovery of construction sector across the world is driving the construction elastomers market during the forecast period.

The major industry players are adopted acquisitions, expansions, joint venture, and new product development as growth strategies in the last four years. The leading players in the market are Arkema S.A (France), Asahi Kasei Corporation (Japan), BASF SE (Germany), The Dow Chemical Company (The US), Covestro AG (Germany), Huntsman Corporation (The US), Teknor Apex Company (The US), Lubrizol Corporation (The US), Tosh Corporation (Japan), Kraton Corporation (The US), China Petroleum and Chemical Corporation (China), Mitsubishi Chemical Company (Japan), DuPont (The US), SIBUR (Russia), EvonikIndustries AG (Germany), Dynasol Elastomers (Spain).

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Arkema is involved in the manufacturing and sales of several chemical products that find applications in consumer goods, paint & coatings, building & construction, and other industries. The company operates business through four segments: adhesive solutions, advanced materials, coating solutions, and intermediates. The company offers construction elastomers under the advanced materials division. Arkema has 144 production facilities and presence across 55 countries.

BASF SE is chemical conglomerate and has a strong presence across the globe. The company supplies its products through 11 divisions, which are grouped into six segments: chemical, materials, industrial solutions, surface technologies, nutrition & care, and agriculture solutions. The company has a broad portfolio comprising 75 strategic business units. It produces construction elastomers under the performance material division, within the materials segment. The company operates 6 Verbund sites and 241 production sites across 90 countries. The Verbund concept allows the company to fully integrate the production process, technology, distribution channel, and recently the digital channel; to create efficient value chains that help in saving raw material cost, improve product yield, minimize emission, and lower logistic costs.

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