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Sizing Up the Construction Plastics Market in 2024: Key Manufacturers, Demand Analysis, and Share Overview - A Vision into 2033
Construction Plastics Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Construction Plastics industry. This report on Construction Plastics market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The construction plastics market size has grown strongly in recent years. It will grow from $101.79 billion in 2023 to $109.84 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to increased need for building renovations and repairs, construction and infrastructure projects, increased need for green building and sustainability, increased regulatory compliance, and urbanization and population growth. The construction plastics market size is expected to see strong growth in the next few years. It will grow to $153.04 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%.
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Key Market Players:
BASF SE, Asahi Kasei Corporation, Dow Inc., LyondellBasell Industries Holdings B.V., Borealis AG, Solvay SA, Saudi Basic Industries Corporation, Berry Plastics Corporation, TotalEnergies SE, Excelite Alliance Private Ltd.
Market Drivers:
According to the Construction Plastics Market Report 2024 by The Business Research Company, the increasing economic growth is expected to propel the growth of construction plastics market. Economic growth denotes the expansion of an economy's ability to generate goods and services as time progresses. Economic growth boosts a favorable environment for the construction plastics industry by increasing construction activity, infrastructure development, innovation, and investment in construction projects. For instance, in September 2023 according to Bureau of Economic Analysis, a US-based Government Agency, during the second quarter of 2023, the United States experienced a 2.4% increase in real GDP, marking an improvement from the 2.0% growth observed in the preceding quarter. Therefore, the increasing economic growth is expected to propel the growth of construction plastics market going forward.
More information about the Global Construction Plastics Market Report -
https://www.thebusinessresearchcompany.com/report/construction-plastics-global-market-report
Market segments for Construction Plastics include:
1) By Type: Polyethylene, Polypropylene, Polyvinyl Chloride
2) By Application: Insulation Materials, Pipes, Windows & Doors
3) By End-User: Non-Residential, Residential
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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