The global construction plastics market is estimated to reach USD 140.7 Billion by 2028. Building and construction plastic is a plastic polymer that is treated chemically to obtain products for the construction industry. They are used for several purposes, such as flooring, cladding & roof membranes, cables, flooring & wall coverings, insulation, piping, and window & door panels.
Factors such as the surge in residential and non-residential construction activities and a rise in demand for plastics due to low cost and physical properties drive the growth of the global building and construction plastic market. The piping segment is projected to dominate the global building and construction plastic market in the future due to the increasing utilization of pipes for various purposes such as drainage, oil, sewer system, water supply, irrigation, and others. Besides, green building practices and growth in the use of recycled plastics in construction are expected to provide lucrative opportunities for the growth of the global market. Moreover, the market offers lucrative growth opportunities for countries in Latin America and Africa due to increasing demand for less expensive and durable plastic products.
The major players operating in the Global Construction Plastics Market include but are not limited to BASF SE, Chevron Phillips Chemical Company, LLC, Dow DuPont Inc., Koninklijke DSM N.V, Ineos Group Holdings S.A., Lanxess Aktiengesellschaft, LG Chem Ltd., Lyondellbasell Industries Holdings B.V, Sabic, SOLVAY S.A, and Other notable players.
Construction Plastics Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 140.7 Billion|
|Growth Rate||CAGR of 6.67% during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Key Players Profiled||BASF SE, Chevron Phillips Chemical Company, LLC, Dow DuPont Inc., Koninklijke DSM N.V, Ineos Group Holdings S.A., Lanxess Aktiengesellschaft, LG Chem Ltd., Lyondellbasell Industries Holdings B.V, Sabic, SOLVAY S.A, and Other|
Key Segments of the Global Construction Plastics Market
Type Overview, 2018-2028 (USD Billion)
- Polyvinyl Chloride
Application Overview, 2018-2028 (USD Billion)
- Insulation Materials
- Walls and Coverings
- Pipes& Ducts
Regional Overview, 2018-2028 (USD Billion)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
Reasons for the study
- The surge in residential and non-residential construction activities and rise in demand for plastics owing to low cost and physical properties.
- Increased usage of recycled plastics in construction leading to a market boost in the period studied.
What does the report include?
- The study on the Global Construction Plastics Market includes qualitative insights such as drivers, restraints, challenges, and opportunities
- Additionally, the market has been evaluated using Porter’s five forces analysis
- The study covers a qualitative and quantitative analysis of the market segmented based on product type and application. Moreover, the study on the construction plastics market provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players operating in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the Global Construction Plastics Market is suitable for all the players across the value chain including component and raw material providers, manufacturers, distributors, and other intermediaries across the value chain
- Venture capitalists and investors looking for more information on the future outlook of the Global Construction Plastics Market
- Consultants, analysts, researchers, and academicians looking for insights shaping the Global Construction Plastics Market
The increasing demand for construction activities is a major factor that is driving the growth of the building and construction plastics market. The dire need for replacing debilitated structures is a major concern worldwide. Rising investments in public and private sectors, coupled with the growing population, are driving the demand for construction activities. The usage of construction plastics provides durability, weather resistance, and reduction in overall weight. Many economies like India, Vietnam, etc. are highly dependent on plastic products, and this reliance is further fueling the demand for building and construction plastics.
Globally, the ever-increasing use of plastics and dependency are escalating the growth of the market. However, the rising concern over plastic waste on a global scale is limiting the market growth in the upcoming years. China and Malaysia have banned imports of plastic waste from reducing the effect of plastic pollution. The non-biodegradable nature of plastic coupled with strict regulations levied by the administration is challenging the growth of the market.
The Polyvinyl chloride segment is the largest, as well as the fastest-growing segment in building and construction plastic with around 89.7% market share in 2018. Polyvinyl chloride is a kind of plastic that is pliable at a certain elevated temperature and solidifies upon cooling. The polymer chain is linked by intermolecular forces, which weaken by the increasing temperatures and yielding a sticky residue. The Polyvinyl chloride segment is majorly driven by the extensive use of Polyvinyl chlorides in a variety of applications in the construction sector, like flooring, piping, windows, and panels, etc. The ability of Polyvinyl chlorides to be reshaped is increasing the demand for Polyvinyl chlorides in the region. The need for eco-friendly and recyclable plastic is another factor that is fueling the uptake of Polyvinyl chlorides.
Geographically, Asia Pacific had been the largest market with a market share of 50.11% in terms of revenue by 2018. An increased government and private spending on the construction sector is helping the industry to stride into the peak position in the world. For the past half-decade, even the uncertain real estate industry is showing potential, and at present, it accounts for around 75% of the overall construction in the worldwide construction industry. In the Asia Pacific region, the population boom, along with the mounting demand for plastic materials attributes to the dominance of the region in the market. Other factors driving the growth of the market include rising demand for plastics for roofing & cladding applications and green building practices in this region. Many key players are producing innovative products to reduce plastic waste and curb energy costs, which is supplementing the growth of the market in the Asia Pacific region. Additionally, the untapped construction plastics market in Vietnam is also contributing to the growth of the market.