Press release
Construction Plastics Market Size Forecasted To Achieve $170.36 Billion By 2029 With Steady Growth
Construction Plastics
What Is the Construction Plastics Market Size and Projected Growth Rate?
Over the past few years, there has been substantial growth in the construction plastics market. This market is projected to expand from $109.15 billion in 2024 to $117.79 billion in 2025, boasting a compound annual growth rate (CAGR) of 7.9%. The historic development of this market can be credited to the surge in demand for renovations and repairs of buildings, construction and developmental projects, increasing need for eco-friendly building and sustainability initiatives, heightened regulatory adherence, as well as the boost in urbanization and population growth.
In the coming years, the construction plastics market is projected to experience robust growth, reaching a value of $170.36 billion by 2029 with a CAGR of 9.7%. This projected growth during the forecast period is attributable to factors such as the rise in digital construction methods, adoption of circular economy strategies, enhanced construction safety norms, growth in emerging markets, and adjustments to fluctuating weather conditions. Key trends during the forecast period are the use of durable, lightweight plastic materials, thermoplastic roofing applications, the merger of smart plastic materials with sensor and data connectivity technology, soundproofing plastics, inventive solutions, and strategic partnerships.
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What Are the Major Segments in the Construction Plastics Market?
The construction plastics market covered in this report is segmented -
1) By Type: Polyethylene, Polypropylene, Polyvinyl Chloride
2) By Application: Insulation Materials, Pipes, Windows & Doors
3) By End-User: Non-Residential, Residential
Subsegments:
1) By Polyethylene: Low-Density Polyethylene (LDPE), Linear Low-Density Polyethylene (LLDPE), High-Density Polyethylene (HDPE), Cross-Linked Polyethylene (PEX)
2) By Polypropylene: Homopolymer Polypropylene, Copolymer Polypropylene (Block and Random Copolymer), Biaxially Oriented Polypropylene (BOPP)
3) By Polyvinyl Chloride (PVC): Rigid PVC, Flexible PVC, PVC Blends and Composites
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What Are The Driving Construction Plastics Market Evolution?
The growth of the construction plastic market is primarily driven by advancements in building, construction, and infrastructure standards. Countries like China, Brazil, India, Saudi Arabia, and Indonesia have experienced vibrant construction activities, reflecting emerging markets. As per AECOM, it is forecasted that the global construction market will continue its strong growth pattern, rising from $13.35 trillion in 2023 to $17.60 trillion by 2026, representing a compound annual growth rate (CAGR) of about 5.3%. Despite the prevalent disapproval of using plastics, the requirements for plastic in the construction industry remain steady due to their lightweight, easy handling, and low maintenance features. Moreover, the scarcity of high-quality plastic replacements has led to substantial profits in the market worldwide. Consequently, the expected amplification in building, construction, and infrastructure standards will influence the expansion of the construction plastics market positively.
Which Firms Dominate The Construction Plastics Market Segments?
Major companies operating in the construction plastics market include 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., Ach Foam Technologies LLC, Chevron Phillips Chemical Company LLC, China Petrochemical Corporation, Engineered Profiles LLC, Formosa Plastics Corporation, Saint-gobain SA, Exxon Mobil Corporation, LG Chem Ltd., Braskem SA, Arkema SA, Covestro AG, Mitsubishi Chemical Corporation, Sumitomo Chemical Co Ltd., Eastman Chemical Company, Shin-Etsu Chemical Co Ltd., Geberit AG, Uponor Corporation, Wavin B.V., Pipelife International GmbH, REHAU AG + Co
What Trends Are Expected to Dominate the Construction Plastics Market in the Next 5 Years?
The growing inclination towards recycled plastics is becoming a prevalent trend in the market. The global populace is progressively recognising the destructive effects of plastic materials on our environment. This recognition has triggered a swift rise in the demand for recyclable eco-friendly plastics. These are bioplastics created from plant-derived polymer resins and plastics decomposable with bacterial assistance. For example, in March 2023, BASF introduced the extended IrgaCycle range of additive solutions, greatly bolstering efforts to recycle plastics. This range delivers specific additive solutions to enhance the quality of recycled materials, allowing for a greater proportion of recycled content in sectors like construction, automotive and packaging. BASF continues to progress its innovation in sustainable materials to satisfy the growing call for recycled plastics. Besides, Kimberly-Clark India broadened its Project Ghar agenda in February 2023, teaming up with the Plastics for Change India Foundation to develop sustainable dwellings for waste collectors.
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Which Is The Largest Region In The Construction Plastics Market?
Asia-Pacific was the largest region in the construction plastics market in 2024. The regions covered in the construction plastics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Construction Plastics Market?
2. What is the CAGR expected in the Construction Plastics Market?
3. What Are the Key Innovations Transforming the Construction Plastics Industry?
4. Which Region Is Leading the Construction Plastics Market?
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