Construction Plastics Market is expected to surpass the market value of over USD 200.45 Billion by the year 2030 while registering a CAGR of 7.95% during the forecast period. Construction plastics are plastics that are chemically treated to make them suitable for construction purposes. Construction plastics come in different forms such as wood-plastic composites, Luxury vinyl tiles, and significant others. Some of the benefits of using construction plastics are lower maintenance, scratch resistance, lightweight, higher strength, and flexibility are considered as the major factors that are driving the overall growth of the construction plastics industry in recent years. Also, experts have observed significant competition in the building and construction industry across the globe that is also stimulating the construction plastics market growth.
The abundant availability and the affordability of plastics and other favorable environmental factors are presenting lucrative opportunities for construction plastics market growth. Among other types of construction plastics, polyvinyl chlorides are intensively utilized for pipes across the construction sector. The potential characteristics such as thermal conductivity, insulation, durability, long life, the capability of adopting varied designs, ergonomic, scratch resistance, and much more of polyvinyl chloride are propelling the construction plastics market in recent years.
The demand for construction plastics is higher in the countries such as China, Indonesia, and Brazil. However, during the pandemic, these were the countries that were severely affected. Such factors have significantly affected the overall growth of the construction plastic industry. Also, the construction activities across the globe were severely affected due to the movement restrictions imposed by the government of several countries. Such factors have also negatively influenced the construction plastics industry during the pandemic.
The decline in the oil and gas industries in the developed regions has also impacted the manufacturing of construction plastics. However, on the other side, the demand for the construction applications such as smoke detectors and fire detectors have intensively utilized construction plastics, for crucial infrastructural development such as hospitals and medical centers. Such factors have supported the overall growth of the construction plastics industry during the pandemic.
The major drivers for the construction plastics industry are their potential characteristics. There are several beneficial characteristics such as effective insulation for the cold and hot weather and thereby conserve energy effectively. Such factors are major drivers of construction plastics market growth.
The increasing urbanization, advancement in technologies, and emphasis on recycling procedures are considered as the major market drivers of the construction plastics industry.
The increasing construction activities across the developed countries such as North America and Europe due to the higher disposable income and inclination towards sophisticated infrastructure and interiors are expected to boost the overall growth of the construction plastics industry during the forecast period.
The demands for construction materials that can lift heavy materials and the cost-effective processes in the construction sector are higher. Such factors are propelling the demand for polystyrene which is considered as the poor conductor of heat and retains energy longer. Such factors are expected to impact the construction plastics market growth during the forecast period.
The raw materials required for the manufacturing of ethylene, propylene, and styrene are highly dependent on crude oil, which tend to fluctuate severely. Therefore the increasing costs of crude oil significantly affect the construction plastics market growth.
The stringent regulations related to plastic production, imposed by the governments of certain developed countries are expected to hinder the construction plastics market growth during the forecast period. Similarly, the increasing demand for green buildings in developed countries is decreasing the demand for PVC products and is considered as the potential restraint of construction plastics market growth.
There are very few efficient standards for the construction plastics industry and the workforce in the construction plastics industry are considered poorly skilled. Such factors are considered as the major challenge for the overall growth of the construction plastics industry.
The return of investment for the manufacturers of these construction plastics is also considered the major challenge. For instance, the price of the construction plastic materials are comparatively lesser than other materials, however, the manufacturing processes require several stages such as CNC machining, polymer casting, rotational molding, and significant others.
The construction plastics market value was at USD 105.67 billion in 2022 and it is expected to surpass the market value of over USD 200.45 billion by the year 2030 while registering a CAGR of 7.59% during the forecast period. This market estimate is due to the lower costs of the construction of plastic materials over other alternatives. Thermosetting plastics are used intensively in construction activities because of their characteristics such as blending, toughness, flame resistance, strength, easier processing, flexibility, and significant others. Therefore they are used for the window and skylight, cladding panels, canopies, roof domes, and other construction requirements.
The role of construction plastic market has been expanded to wide areas in the construction sector in recent years and has seen an evolution in the technological world. Moreover, the unavailability of competitive materials in the place of these construction plastics is boosting the overall growth of the construction plastics industry.
Among other construction plastics materials, polyvinyl chloride is prominently used in the construction plastics industry, whereas the others are considered to be less cost-effective. The pipings, window applications, and other areas are major consumers of polyvinyl chloride material due to its potential characteristics such as thermal conductivity, scratch resistance, and as it allows varied options to design them. The increasing trend and technologies in the construction industry and the amount of sophistication the customers look for are propelling the construction industries to look for better and cost-effective materials for construction purposes. There are multiple ways to utilize construction plastics in huge volume that helps in generating revenues for the construction plastics industry.
Also, several developed countries are focused on construction activities, both residential and commercial infrastructure, which provides lucrative opportunities for the overall growth of the construction plastics industry. Also, the developed countries are emphasizing the recycling of plastics in every possible way, which has again offered opportunities for the research team to further propel the construction plastics market growth across those countries.
Based on plastics
Based on the plastic-type
Based on the application type
Global Construction Plastics Market Share, by Type, 2017 (%)
Source: MRFR Analysis
Currently, Asia-pacific is holding the highest construction plastics market share among the other potential regions. The market growth is due to the increasing adoption of construction plastics in the countries like China and India. China is considered the largest producer of polyurethanes plastic materials and thermoplastics, and the country also exhibits increasing industrialization and urbanization. The production capacity in China rises year over year at affordable rates and labor is also driving the overall growth of the construction plastics industry across the region.
Similarly, the favorable conditions for construction plastics market growth such as supporting government policies, cheap labor, abundant natural resources, industrial facilities, and significant others are creating an impact on construction plastics market growth.
Recent developments
November 2021 - Westlake Chemical Corporation confirms that its Vinnolit subsidiary based in Germany has introduced GreenVin Polyvinyl Chloride (PVC), which is a lower-carbon alternative PVC that is a popular plastic used extensively in industries such as construction, along with medical and automotive.GreenVin PVC’s quality and performance are as good as traditional PVC; however, it offers a more climate and eco-friendly property to the customers. The plastic along with the complete GreenVin product range reflect the brand’s commitment to catering to the consumers’ requirements.February 2022 - Avantium N.V., a reputed technology firm with expertise in renewable chemistry has been given the go ahead by its shareholders for the construction of its flagship production plant for furandicarboxylic acid (FDCA), which is a primary ingredient used for preparing plant-based PEF.The construction plastic PEF is considered far more superior to other plastics such as PET, in terms of performance and sustainability. It is recyclable, stronger and much less permeable to different gases, while offering higher shelf life.July 2019: JD Composites recently constructed a house with its exterior walls made from recycled plastic. While the house costs the same as traditional labor and material costs, since it is made from recycled construction plastics, the cost of repairs and maintenance would be lower.In the year 2018, one of the leading market players, BASF has announced its production capacity in Neopor and Korea production sites. The expansion had resulted in intense growth in the construction plastics industry and increased the demand for gray insulation materials.In the year 2019, one of the leading market players, BASF had introduced a novel construction material for the windows application that had efficiently replaced steel with PVC.
Report Overview
This report has covered
Segmentation Table
Based on plastics
Based on the plastic-type
Based on the application type
| Report Attribute/Metric | Details |
| Market Size | 2030: USD 200.45 Billion |
| CAGR | 2030: 7.95% CAGR |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | 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), and Trinseo (US) |
| Key Market Opportunities | rapid urbanization and industrialization |
| Key Market Drivers | increasing construction activities and HVAC market |
Construction Plastics Market Highlights:
Frequently Asked Questions (FAQ) :
The construction plastics market value was at USD 105.67 billion in the year 2022 and it is expected to surpass the market value of over USD 200.45 billion by the year 2030 while registering a CAGR of 7.59% during the forecast period.
Players like PetroChina Ltd (China), BASF SE (Germany), DowDuPont (US), Solvay SA (Belgium), Borealis AG (Austria), SABIC (Saudi Arabia), Arkema (France), Cork Plastics (US), B & F Plastics, Inc., (US), and Trinseo (US) are going to have strong impact on the construction plastics market.
The Asia Pacific market is showing promises of taking the global construction plastics market ahead.
Several strategies are likely to make it easier for the construction of plastics market growth. These are effective agreement, various branding, product launches, better expansion plans, joint ventures, investments, mergers & acquisitions, and better initiatives for the R&D.
The fluctuation in the prices of raw materials such as ethylene, propylene, styrene, and significant others because of the availability and price of crude oil is considered as the major challenge for construction plastics market growth.
Slumbering economies in recent times have hampered construction activities, which, in turn, have adversely affected the construction plastics market.
An increasing number of green building is creating opportunities for the use of recycled plastics, which can be beneficial for the construction plastics market.
Construction Plastics Market is projected to be worth USD 125.95 Billion by 2027, registering a CAGR of 7.95% during the forecast period (2020 - 2027).
$125.95 Billion
7.95%
Asia Pacific
2020-2027
Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
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