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Emerging Trends Influencing The Growth Of The Construction Elastomers Market:Increased R&D Investments And Product Advancements Drive Innovation In The Construction Elastomer Market
Construction Elastomers
How Big Is the Construction Elastomers Market Size Expected to Be by 2034?
The market size for construction elastomers has experienced substantial growth in recent years. The market is projected to expand from $6.27 billion in 2024 to $6.82 billion in 2025, with a compound annual growth rate (CAGR) of 8.7%. Factors contributing to this growth during the historic period include urbanization, improvement in energy efficiency, weather resistance, sustainable construction practices, and infrastructure development.
The forecast predicts a notable surge for the construction elastomers market in the coming years, reaching a value of $9.84 billion by 2029, with a compound annual growth rate (CAGR) of 9.6%. This predicted expansion during the forecast period can be attributed to various factors such as robust and disaster-resistant constructions, the propensity towards energy-efficient green buildings, innovative smart building technologies, rejuvenation of deteriorating infrastructures, and urban renewal and transformation. Key trends expected to emerge during the forecast period include seismic resilience, advanced cool roof systems, innovative self-healing elastomers, 3D printing and customization, as well as coated elastomeric roofing.
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What Are the Emerging Segments Within the Construction Elastomers Market?
The construction elastomers market covered in this report is segmented -
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, Other Chemistry
3) By Application: Residential, Non-Residential, Civil Engineering
Subsegments:
1) By Thermoset: Polyurethane Elastomers, Epoxy Elastomers, Silicone Elastomers, Polyisoprene Elastomers
2) By Thermoplastic: Thermoplastic Polyurethane (TPU), Styrenic Block Copolymers (SBC), Thermoplastic Vulcanizates (TPV), Thermoplastic Olefins (TPO)
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What Long-Term Drivers Are Shaping Construction Elastomers Market Trends?
The forecast period is anticipated to see a significant rise in the construction elastomer market, fueled by an escalating demand for sustainable buildings. Sustainable construction aims to mitigate the detrimental environmental impacts of the building industry by employing environmentally friendly development techniques, boosting energy efficiency, and leveraging green technologies. Construction elastomers, which are eco-friendly, renewable, and safe for both domestic and commercial application, align well with these goals. For instance, a 2023 report by the World Green Building Council highlighted an increasing trend for sustainable buildings, with 71% of worldwide respondents noting a surge in green building demand. In Europe, a remarkable 75% of industry professionals reported a growing concern with sustainability efforts in the building sector. Even in slower growth areas like the Middle East and Africa, 39% reported a rise in demand. This trend will significantly intensify the need for construction elastomers, contributing to the market's expansion.
Who Are the Top Competitors in Key Construction Elastomers Market Segments?
Major companies operating in the construction elastomers market include Dow Chemical Company, Arkema SA, BASF SE, Covestro AG, Huntsman Corporation, Tosoh Corporation, Evonik Industries AG, Mitsubishi Chemical Company, The Lubrizol Corporation, PJSC SIBUR Holding, Teknor Apex Company, Dynasol Group, Kraton Corporation, Asahi Kasei Corporation, Exxon Mobil Corporation, Lanxess AG, Zeon Corporation, JSR Corporation, LG Chem Ltd., Kuraray Co. Ltd., Momentive Performance Materials Inc., Wacker Chemie AG, Bridgestone Corporation, Continental AG, Eastman Chemical Company, Compagnie Générale des Établissements Michelin, Shin-Etsu Chemical Co. Ltd., Sumitomo Chemical Co. Ltd., The Goodyear Tire & Rubber Company, Trinseo LLC
What Construction Elastomers Market Trends Are Gaining Traction Across Different Segments?
A significant trend in the construction elastomer market is the ramping up of R&D investments by key industry participants, aimed at improving elastomer properties and developing novel products. Major firms in this market are channeling resources into research and development in an effort to satisfy customer needs and solidify their market standing. For instance, in May 2023, Mallard Creek Polymers unveiled Rovene 6520, a state-of-the-art all-acrylic emulsion polymer intended for advanced elastomeric roof coatings. This newly introduced product boasts enhanced durability and adhesive attributes, surpassing norms like ASTM D 6083. This initiative is a testament to Mallard Creek's continued dedication to pioneering sustainable and high-performing solutions for the elastomeric roof coatings market.
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Which Regions Are Becoming Hubs for Construction Elastomers Market Innovation?
Asia-Pacific was the largest region in the construction elastomers market in 2024. North America was the second-largest market in the construction elastomers market share. The regions covered in the construction elastomers 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 Elastomers Market?
2. What is the CAGR expected in the Construction Elastomers Market?
3. What Are the Key Innovations Transforming the Construction Elastomers Industry?
4. Which Region Is Leading the Construction Elastomers Market?
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