Global Construction Plastics Market Overview
A rapid acceleration noticed in the technological development to achieve greater economies of scale has led to the invention and adoption of numerous cost-effective materials over conventional construction materials. These materials are much better when it comes to performance, and easier to maneuver and handle. Construction plastics are widely used in the construction industry owing to its advantages over conventional materials. Additionally, they aid in the improvement of overall aesthetics of the structure and are easier to maintain.
The latest analysis by Market Research Future (MRFR) has suggested that the global construction plastics market is anticipated to augment at an accelerated rate through the forecast period. Demand for construction plastics across the globe is expected to skyrocket owing to the increasing infrastructural activities around the world, specifically in developing countries.
Additionally, a mushrooming demand for different types of Construction Plastics Market in various applications is likely to propel market growth. A rising population and penetration of urbanization, especially in developing countries, has led to proliferated construction activities. Such expansion of the construction sector has fueled the demand for construction plastics to a great extent. For instance, initiatives undertaken by the Indian government such as Smart Cities Mission as well as Green Corridor have led to a rapid rise in the construction activities, further augmenting the demand for construction plastics during the forecast period.
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Increasing prevalence of green buildings and the adoption of recycled plastic and plastic wastes in construction are projected to provide lucrative opportunities for other applications of construction plastics during the review period. Further, increasing the use of EPS in construction has been identified as a significant supply driver for construction plastics.
Competitive Analysis
BASF SE (Germany),
DowDuPont (US),
PetroChina Ltd (China),
Borealis AG (Austria),
Solvay SA (Belgium),
Arkema (France),
SABIC (Saudi Arabia)
B & F Plastics, Inc., (US)
Cork Plastics (US)
Trinseo (US)
Based on application, the market has been segmented into flooring, window, piping, ducts, insulation, roofing, walls, and others. Pipelines accounted for the largest market share in 2017 and is expected to maintain its dominance throughout the forecast period. Plastic components are widely used in construction for interior and exterior applications such as piping, pipe fittings, water services, and others, which is expected to drive the demand. The pipeline segment is followed by insulation and ducts which is expected to grow at significant CAGRs during the forecast period with the increasing awareness regarding energy efficient building and construction.
Segmental Insight
Construction plastics industry can be segmented depending on type, application and end-use industry.
The key types of construction plastics are polyethylene, polyvinyl chloride (PVC), polyurethane, polypropylene, polystyrene, polycarbonate, and others.
Application-based market segments are window, walls, ducts, piping, flooring, roofing, insulation, and others.
Some of the prime end-use industries in the global market are commercial construction, renovation and reconstruction as well as residential construction.
Detailed Regional Analysis
The global construction plastics market has been studied explicitly for various regions such as North America, South America, Asia Pacific, Europe, and the Middle East & Africa. Among these regions, the Asia Pacific held the highest percentage of the global construction plastics market at the beginning of the forecast period. This market dominion can be credited to the increasing infrastructural activities in several developing countries such as India, Thailand, Malaysia, Indonesia, and Vietnam.
North America is projected to fetch a substantial share in the global construction plastics market owing to the mushrooming construction industry in the region and increasing prevalence of green buildings. On the other hand, Europe is likely to witness a moderate CAGR due to sluggish growth in the construction industry in the region.
The Middle East & Africa is anticipated to grow at a fast pace, due to proliferated construction activities and a surge noted in the HVAC market in the region. Further, the proposed investment of USD 2700 billion across GCC nations is expected to create new growth opportunities for construction plastics over the review period. Similarly, Latin America is expected to witness significant growth during the forecast period owing to rapid urbanization and fast-paced industrialization in the region.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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About Market Research Future -
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Edibles.
MRFR team has the supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end-users, and market players for global, regional, and country-level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with the technology and work process of the industry, MRFR often plans to conduct meet with the industry experts and industrial visits for its research analyst members.
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