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Booming Building And Construction Drives Expansion Of The Construction Plastics Market Emerges as a Core Driver of the Construction Plastics Market in 2025
Construction Plastics Market
What Is the Expected CAGR for the Construction Plastics Market Through 2025?
The building plastics industry has seen significant expansion recently. Its size is predicted to increase from $109.15 billion in 2024 to $117.79 billion in 2025, achieving a compound annual growth rate (CAGR) of 7.9%. This surge during the historic period was influenced by factors such as the increased demand for refurbishments and maintenance in buildings, construction and infrastructure projects, a growing emphasis on green buildings and sustainability, tighter regulatory adherence, and urban and demographic growth.
What's the Projected Size of the Global Construction Plastics Market by 2029?
In the upcoming years, the construction plastics market is anticipated to exhibit robust growth, escalating to $170.36 billion in 2029 with a compound annual growth rate (CAGR) of 9.7%. The expansion during the forecast period could be a result of the surge in digital construction procedures, circular economy strategies, construction safety norms, growth in emerging markets, and the rising adaptability to fluctuating climate scenarios. Key trends within the forecast period comprise the use of lightweight and resilient plastic materials, thermoplastic roofing, the integration of smart plastic materials with sensors and data connectivity, soundproofing plastics, trailblazing solutions, and tactical collaborations.
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Top Growth Drivers in the Construction Plastics Industry: What's Accelerating the Market?
The construction plastic market is seeing a surge due to enhanced standards in infrastructure and building construction. Countries such as China, Brazil, India, Saudi Arabia, and Indonesia have witnessed considerable growth in construction activities. As per AECOM, the global construction market is projected to persist on an upward progression, with the prediction of rising from $13.35 trillion in 2023 to a whopping $17.60 trillion by 2026. This signifies a compound annual growth rate (CAGR) of about 5.3%. Regardless of general aversion to plastic usage, the indispensability of plastics in the construction sector persists owing to their lightweight, manageability, and low upkeep attributes. Additionally, the global market has made vast gains from the absence of alternatives for premium quality plastics. As a consequence, the advancement in infrastructure and building construction standards is anticipated to boost the growth of the construction plastics market.
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What Trends Will Shape the Construction Plastics Market Through 2029 and Beyond?
The growing inclination towards recycled plastics is marking a significant trend in the market. There is an escalating consciousness amongst the global population regarding the destructive effects of plastic substances on our environment. This has fuelled a sudden surge in demand for environmentally-friendly recycled plastics: plant-based bioplastics and plastics that bacteria can decompose. For example, in March 2023, BASF debuted the IrgaCycle line of additive solutions, further developed to significantly bolster plastic recycling efforts. The series delivers precise additive solutions that augment the standard of recycled materials, facilitating greater amounts of recycled content in sectors like construction, automotive, and packaging. BASF relentlessly pursues innovation in sustainable materials to fulfill the burgeoning demand for recycled plastics. Also, in February 2023, Kimberly-Clark India broadened its Project Ghar enterprise, partnering with the Plastics for Change India Foundation to build sustainable homes for waste collectors.
What Are the Main 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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Which Top Companies are Driving Growth in the Construction Plastics Market?
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
Which Regions Will Dominate the Construction Plastics Market Through 2029?
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.
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