The Construction Plastics Market is currently undergoing significant trends that are reshaping the industry across various applications. One noteworthy trend is the increasing demand for construction plastics in the building and construction sector. As the construction industry embraces lightweight and durable materials, construction plastics are becoming popular for applications such as roofing, insulation, piping, and cladding. This trend is driven by the desire for cost-effective and efficient construction solutions that offer improved performance, energy efficiency, and sustainability.
Environmental sustainability is a key driver influencing market trends in the Construction Plastics Market. With a growing focus on reducing the environmental impact of construction activities, there is a shift towards using recycled and recyclable plastics in construction applications. Manufacturers are exploring the use of post-consumer and post-industrial recycled plastics to create eco-friendly building materials. This trend aligns with global efforts to promote circular economy practices and reduce the carbon footprint of construction projects.
Technological advancements play a pivotal role in shaping market trends in the Construction Plastics Market. Ongoing research and development efforts focus on enhancing the properties and performance of construction plastics. Innovations in polymer formulations, additives, and processing technologies contribute to the development of plastics with improved strength, fire resistance, and thermal insulation properties. These technological trends address the construction industry's demand for advanced plastic materials that meet stringent building codes and regulations.
The infrastructure development sector is another significant influencer of market trends in the Construction Plastics Market. Construction plastics find extensive use in infrastructure projects, including bridges, tunnels, and roadways. The lightweight nature, durability, and corrosion resistance of plastics make them ideal for various infrastructure applications. This trend is driven by the need for materials that can withstand harsh environmental conditions while offering cost-effective and sustainable solutions for long-lasting infrastructure projects.
Supply chain dynamics and raw material costs are critical factors impacting market trends in the Construction Plastics Market. The availability and pricing of raw materials, such as polymers and additives, can influence the overall cost of construction plastics. Fluctuations in raw material prices, geopolitical factors affecting the supply chain, and global economic conditions can pose challenges for manufacturers. Companies in the Construction Plastics Market are actively managing their supply chains, exploring alternative materials, and adopting strategies to ensure a stable and cost-effective production process.
Moreover, there is a growing trend towards the development of high-performance and specialty construction plastics. As construction projects become more complex and demanding, there is an increasing demand for plastics with specific characteristics such as flame resistance, acoustic insulation, and anti-microbial properties. Manufacturers are responding to this trend by offering specialized construction plastics tailored to meet the unique requirements of different building applications. This customization trend enhances the versatility of construction plastics and allows for optimized solutions in various construction projects.
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.Â
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.Â
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.Â
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.Â
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.Â
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.Â
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.Â
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Segmentation Table
Based on plastics
Based on the plastic-type
Based on the application type
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