The Global Construction Plastics Market is expected to grow from USD 82.56 billion in 2017 to USD 143.23 billion in 2025 at CAGR of 7.13% during the forecast period from 2018-2025. The key contributing factors for the growth are increase in construction activities in both residential and non-residential sectors as well as cost effectiveness quality of plastics.
“Global Construction Plastic Market by Plastic Types (Polyurethane, Polystyrene, Polyethylene, Polypropylene, Polyvinyl Chloride, Others), Application, Region” and Global Forecast 2018-2025
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The prominent players in global Construction Plastics markets are BASF AG, Borealis AG, The DowDupont Chemical Company, Solvay SA, Trinseo, LyondellBasell Industries Holdings BV, Saudi Basic Industries Corporation (SABIC) Total S.A., Asahi Kasei Corporation, Berry Plastics Corporation, LG Chemicals, INEOS Group Holdings SA, Lanxess Aktiengesellschaft, Koninklijke DSM N.V, Chevron Phillips Chemical Company and others. Most of the firms have undertaken major expansion projects to better serve ever rising demand for construction plastics. For instance Rising demand for DuPont’s Tyvek nonwoven materials has prompted DuPont Safety and Construction, a business unit of DowDuPont Inc., to invest more than $400 million to expand capacity for the materials at its facility in Luxembourg. The breathable material is lightweight and durable and resists water and abrasion. It has found use across diverse industries, including construction, where it is commonly used for building envelope solutions.
Plastic Type segment is categorized into Polyurethane, Polystyrene, Polyethylene, Polypropylene and Polyvinyl Chloride. On account of being lightweight, easy to mold, assemble, recyclable and having no cost effective alternatives drove the demand for Polyvinyl Chloride in global construction plastics market. It dominated the market share with accounting for 43.83% of total revenues in 2017. Polystyrene held next spot in market share owing to its excellent insulation and lightweight property. Due to the rising requirement for high performance lightweight construction plastic Polyurethane segment is projected at fastest pace. Application segment is divided into Insulation Materials, Windows, Doors and Pipes. Due heightened requirement for thermal insulating and temperature retaining materials in housing segment the insulation segment was responsible for generating 26.34% of total market revenue in the year of 2017. On the other hand piping application segment delivered dominant performance with 41.12% of total market revenue. This growth is attributed to rapid urbanization fueling demand for water supply, plumbing, fluid transfer, cooling systems piping solutions.
Ability of construction plastics being lightweight, cost effective, easy to utilize with equal durability to traditional alternatives is moving demand for construction plastics forward. Due rising urbanization coupled with increasing allocation for infrastructure, housing and residential developments in developing economies around the world is expected to drive the demand for construction plastics. Also worldwide emphasis on energy efficiency and construction of green buildings is also proving to be a huge driving force. Volatility in crude oil prices is expected to be the major challenges for the construction plastics sector.
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