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Top Players and Market Competition in the Construction Elastomers Industry
The construction elastomers market is positioned for significant expansion as the building industry increasingly seeks versatile, durable, and sustainable materials. With rising investments in smart infrastructure and climate-resilient projects, elastomers are becoming vital components in modern construction. Below, we explore the market's growth outlook, key players, prevailing trends, and major segments shaping this sector.Construction Elastomers Market Set to Reach $10.37 Billion by 2030
The construction elastomers market is projected to grow substantially, reaching a value of $10.37 billion by 2030. This represents a compound annual growth rate (CAGR) of 9.0% over the forecast period. Several factors contribute to this upward trajectory, including an enhanced focus on eco-friendly building materials, a growing preference for elastomers with superior durability, and the expansion of infrastructure designed to withstand climate challenges. Additionally, the demand for lightweight construction components and increased investments in intelligent buildings are driving market growth. Key market trends include the rising integration of elastomers in energy-efficient constructions, adoption of advanced roofing materials offering high performance, growing need for flexible sealing solutions, ongoing infrastructure rehabilitation projects, and an emphasis on weather-resistant building products.
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Top Players Driving the Construction Elastomers Market
The market features several leading companies that hold significant influence, such as 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, Eastman Chemical Company, Shin-Etsu Chemical Co. Ltd., Sumitomo Chemical Co. Ltd., and Trinseo LLC.
A notable recent development occurred in August 2023 when Belgium-based Ravago Group acquired a controlling stake in the US company M. Holland Company, known for supplying thermoplastic elastomers (TPEs) and thermoplastic vulcanizates (TPVs) for construction applications. This acquisition aims to strengthen Ravago's global distribution of thermoplastic resins and accelerate innovation in materials for industrial uses.
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Current Trends Highlighting Innovation in Construction Elastomers
Market players are increasingly focusing on creating advanced products that enhance waterproofing capabilities while improving strength, flexibility, and durability in construction settings. High-performance waterproofing systems are gaining traction as they offer long-lasting protection against leaks, moisture damage, and corrosion.
For example, in March 2023, Pearl Polyurethane Systems LLC, based in the UAE, introduced the DuraPearl Elastomer System, a next-generation polyurea spray coating. This innovative product surpasses traditional epoxy and membrane coatings by providing up to four times greater strength and approximately 98% higher flexibility. It also cures up to six times faster, enabling quicker project completion. The DuraPearl system adheres strongly to various substrates like concrete, steel, wood, and asphalt, offers excellent chemical and temperature resistance, emits low VOCs, and ensures full coverage with the first coat, making it ideal for applications such as waterproofing, flooring, pipeline coatings, and tank linings.
Breakdown of Market Segments in the Construction Elastomers Industry
This report classifies the construction elastomers market into several key segments:
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
Further subcategories include:
- Thermoset types such as Polyurethane Elastomers, Epoxy Elastomers, Silicone Elastomers, and Polyisoprene Elastomers
- Thermoplastic types such as Thermoplastic Polyurethane (TPU), Styrenic Block Copolymers (SBC), Thermoplastic Vulcanizates (TPV), and Thermoplastic Olefins (TPO)
This segmentation helps in understanding the diverse range of elastomer products and their specific uses across various construction sectors.
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