Global construction plastics market is valued at approximately USD 70.4 billion in 2017 and is anticipated to grow with a growth rate of more than 7 % over the forecast period 2018-2025.
The advent of lightweight, low cost material consumption in construction industry along with growing popularity of green building are considered as a major growth trend for the global construction plastics market. Expanded polystyrene plastics and PVC adoption in construction industry is growing owing to initiation of green building concept. According the International Energy Agency report, buildings and construction sector account for about 39% of energy-related carbon dioxide emissions.
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Thus, to minimize the environmental pollution from the construction sector green building use recycles plastic resources those are durable, recyclable, that exhibit high strength along with lower environmental impact that increases their utilization in green construction sector. Thus, rising popularity of green building concept is projected to drive the demand for plastics in construction.
Green building concept efforts to minimize the environmental impact from the construction sector supplementing the adoption of construction plastics. Furthermore, growing investments in emerging economies is expected to create lucrative growth prospects of the construction plastics market across the globe. However, stringent laws by regulatory authorities act as a key restraint for the market during the forecast period.
On the basis of segmentation, the construction plastics market is segmented into type, application and end-user. On the basis of type segment, the market is sub-segmented into polyethylene, expanded polystyrene (EPS), polypropylene, polyvinyl chloride and other type of plastic, of which polyvinyl chloride held the major share owing to its wide use in pipes application.
In addition, the polyvinyl chloride has properties such as insulation, scratch resistance, flexibility and thermal conductive along with low cost as compared to other materials which leads towards high adoption in pipes thereby significantly supplementing the PVC segment dominance. The application segment is diversified into insulation materials, doors & pipes, windows and other application, of which doors & pipes is leading segment owing to their wide application in construction such as water service, fire-protection, geothermal piping system and more. On the basis of end-user segment the market is classified into residential and non-residential.
Key regions considered for the regional analysis of construction plastics market includes North America, Europe, Asia Pacific, Latin America and ROW. Asia-Pacific holds the leading position in construction plastics market due to rapid industrialization coupled with growing demand for plastics from different end use industries such as building and construction. Whereas, Asia-Pacific is expected to emerge as the fastest growing region in terms of market share. The growth of Asia-Pacific is witnessed owing to the untapped opportunities in countries such as India and China.
The leading market players mainly include-
- DowDuPont Inc
- BASF SE
- Borealis AG
- Solvay S.A.
- Formosa Plastics Corporation
- Saudi Basic Industries Corporation (SABIC)
- Ineos Olefins & Polymers USA
- Plazit Polygal Group
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.
Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
- expanded polystyrene (EPS)
- polyvinyl chloride
- other type of plastic
- insulation materials
- doors & pipes
- other application
- North America
- Asia Pacific
- Middle East & Africa
Furthermore, years considered for the study are as follows:
- Historical year – 2015, 2016
- Base year – 2017
- Forecast period – 2018 to 2025
Target Audience of the Global Construction plastics Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers
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