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Navigating the Construction Elastomers Landscape in 2024: Size, Trends, and Competitors - A Comprehensive Forecast Until 2033 with Emphasis on Growth Drivers
Construction Elastomers Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Construction Elastomers industry. This report on Construction Elastomers market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The construction elastomers market size has grown strongly in recent years. It will grow from $5.79 billion in 2023 to $6.31 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to urbanization, energy efficiency, weather resistance, sustainable construction, infrastructure development. The construction elastomers market size is expected to see strong growth in the next few years. It will grow to $8.89 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%.
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Key Market Players:
Dow Chemical Company, Arkema SA, BASF SE, Covestro AG, Huntsman Corporation, Tosoh Corporation, Evonik Industries AG, Mitsubishi Chemical Company.
Market Drivers:
According to the Construction Elastomers Market Report 2024 by The Business Research Company, the rising demand for residential projects is expected to propel the growth of the construction elastomer market going forward. Residential projects refer to a wide range of construction endeavors focused on developing living spaces. Construction elastomers are primarily used in residential projects because they provide an effective way to seal, insulate, and protect various components of a home, ensuring its structural integrity, comfort, and durability. For instance, in February 2023, according to Fit Small Business, a US-based digital resource for small businesses, For instance, in February 2023, according to Fit Small Business, a US-based digital resource for small businesses, the US homeownership rate increased from 65.6 in 2021 to 66 in 2022, accounting for 10% of recent home sales in the same year. Moreover, construction of 1,382,000 new homes began in December 2022. Therefore, the rising demand for residential projects is expected to drive the growth of the construction elastomer market going forward.
More information about the Global Construction Elastomers Market Report -
https://www.thebusinessresearchcompany.com/report/construction-elastomers-global-market-report
Market segments for Construction Elastomers include:
1) By Type: Thermoset, Thermoplastic
2) By Chemistry: Styrene Block Copolymers (Sbcs), Thermoplastic Polyurethanes (Tpu), Styrene-Butadiene (Sbr), Ethylene Propylene Diene Monomer (Epdm), Natural Rubber, Acrylic Elastomer (Acm), Butyl Elastomer (Iir), Other Chemistry
3) By Application: Residential, Non-Residential, Civil Engineering
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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