The global construction plastics market is estimated to reach USD 140.7 Billion by 2028, at a CAGR of 6.67% during the forecast period from 2021 to 2028. Increasing applications of plastics in building & construction coupled with increased usage of recycled plastics in construction are driving the market growth.
The demand within the global construction plastics market is rising on account of sophistication in infrastructural standards. Despite large-scale condemnation of plastic usage, the need for plastics in the construction industry remains undiminished. Furthermore, the unavailability of substitutes for high-quality plastics has also generated humongous revenues within the global market. The use of construction plastics is not just restricted to pipes and furniture. On the contrary, these plastics are a part of the entire cycle of construction at a particular site. Henceforth, the total volume of revenues in the global construction plastics market is expected to multiply in the coming years.
Plastics are increasingly replacing conventional construction materials due to their superior cost-effectiveness, weight to strength ratio, and ease of application. Huge construction activities in residential as well non-residential sectors are proving to be a major driving force for the growth of the market. Increasing urbanization, push for improving and retrofitting the existing housing structures as well as the global emphasis on recycling plastic materials has also provided a fillip to research and development of new plastic materials for construction purposes.
Rapid industrialization and increasing personal disposable incomes in the Asia Pacific region, coupled with the increasing demand for plastics from various end-use industries, such as construction are driving the growth of the Asia Pacific construction plastics market. Moreover, China’s large production capacity at low rates is making the region attractive for the construction plastics market. Various key industries, such as building & construction and others have shifted from the western regions to the countries of the Asia Pacific, especially China and India, due to the availability of cheap labor, supportive government policies, and availability of natural resources, which is driving the demand for plastics, which in turn, is promoting the growth of the construction plastics market in the region. This has created significant opportunities for the consumption of construction plastics in the Asia Pacific.
Adroit Market Research report on the global construction plastics market gives a holistic view of the market from 2018 to 2028, which includes factors such as market drivers, restraints, opportunities, and challenges. The market has been studied for the historic year from 2018 to 2020, with the base year of estimation as 2020 and forecast from 2021 to 2028. The report covers the current status and future traits of the market at the global as well as country level. Also, the study assesses the market based on Porter's five forces analysis and positions the key players based on their product portfolio, geographic footprint, strategic initiatives, and overall revenue. Prominent players operating in the global construction plastics market have been studied in detail.
The global construction plastics market is segmented based on product type, application and, region. Based on product types, Polyvinyl Chloride, Polystyrene, Polyethylene, Polyurethanes, and Others, by Application into Insulation Materials, Roofing, Walls and Coverings, Pipes & Ducts, Windows, and Others.
The BASF SE, Dow Chemical Company, DuPont, Solvay SA, and Trinseo are some of the leading players in the global market. These players are involved in the production of plastics for diverse applications in the infrastructure sector. Companies involved in the manufacturing of products for the infrastructure sector are highly integrated across the value chain and carry out operations beginning from production to sales and distribution of the products to various locations.
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. The construction plastics market is a moderately consolidated market with the presence of major players in the market. Key players in the market are implementing mergers and acquisitions, product launches, expansions strategy to improve the market share.
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