The global construction plastics market size is expected to reach USD 149.94 billion in 2028 and register a revenue CAGR of 7.2% over the forecast period, according to a latest report by Reports and Data. Market revenue growth is primarily driven by rising investment of government bodies in development of commercial buildings public infrastructures in emerging countries such as India, China, Brazil, and Indonesia. In India, for instance, infrastructure sector is developing and a fast pace and it has become one of the biggest focus areas in the industry. The Indian government is planning to invest approximately USD 1.4 trillion on infrastructure during 2019-23 for accelerating sustainable development of this country.
Rising usage of plastics in a wide range of applications, especially in the construction industry, including piping, insulation, interior design, and window frames, is expected to drive revenue growth of the market during the forecast period. Plastic materials are being extensively used in the construction industry, owing to excellent strength-to-weight ratio, cost-effectiveness, corrosion resistance, requirement of low maintenance, high durability, and great versatility properties.
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Some Key Highlights in the Report
- In June 2021, BASF SE introduced VALERAS, a new brand of its plastic additives portfolio. It would enable customers to achieve different sustainability goals. This new brand is expected to bring a significant sustainability value to plastic applications by reducing emissions, improving durability, promoting biodiversity, and saving energy. This new product portfolio would continuously evolve to support customers in the plastics industry on accelerating sustainability journeys. BASF SE introduced this new brand with an aim to increase sustainability of plastics, along the entire polymer value chain.
- Polyvinyl chloride segment is expected to account for largest revenue share in the global construction plastics market over the forecast period. This type of plastic is easy is mold, highly recyclable, and lightweight. Unlike other type of plastics, polyvinyl chloride is the most versatile material as it is being extensively used in pipes fittings, flooring, window door profiles, and roof membranes.
- Pipes segment is expected to account for a significant revenue share in the global construction plastics market, owing to ability of plastic pipes to transport water in a safe and hygienic way. Plastic pipes are easy to install, operate, and maintain due to lightweight and flexibility properties. These properties help in coping with different soil movements, which, in turn, is expected to drive revenue growth of the segment.
Major Companies:
- DowDuPont Inc.
- BASF SE
- Asahi Kasei Corporation
- LyondellBasell Industries Holdings B.V.
- Borealis AG
- Solvay S.A.
- Formosa Plastics Corporation
- Saudi Basic Industries Corporation (SABIC)
- Berry Plastics Corporation
Competitive Landscape:
The report further sheds light on the competitive landscape and provides in depth information about each market player including its global position, product portfolio, financial standing, revenue growth and company overview. The market players are focused on adopting various inorganic and organic growth strategies such as mergers and acquisitions, joint ventures, collaborations, product launches and partnerships to gain a robust footing in the market.
Key questions addressed in the report:
- What is the expected market size of the global Construction Plastics market during the forecast period?
- What CAGR is the global market expected to register during the forecast period?
- Which key factors are expected to boost global market growth between 2021 and 2028?
- What are the key restraints that are expected to hamper global market growth?
- Which regional market is expected to register robust CAGR during the forecast period?
- Which key players are operating the global Construction Plastics market?
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Construction Plastics Market Segmentation:
Type Outlook:
- Polyvinyl Chloride
- Polypropylene
- Polyethylene
- Expanded Polystyrene
Application Outlook:
- Windows Doors
- Pipes
- Insulation Materials
Regional Outlook:
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- A.E.
- South Africa
- Rest of MEA
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