Global Construction Plastics market is expected to reach USD 143.23 billion by 2025 at a CAGR of 7.13% from 2018 to 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 over conventional materials.
Plastics are increasingly replacing the conventional construction materials due to their superior cost effectiveness, weight to strength ratio and ease of application. Huge construction activities in residential as well nonresidential sectors are proving to be a major driving force for the growth of the market. Increasing urbanization, push for improving and retrofitting the existing housing structures as well as global emphasis on recycling of plastic materials has also provided fillip to research and development of new plastic materials for construction purposes.
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- The base year for the study has been considered 2017, historic year 2015 and 2016 and, the forecast period considered is from 2018 to 2025. The construction Plastics market is analyzed on the basis of value (USD billion) and volume (Kilotons).
- The study delivers a comprehensive analysis of Global Construction Plastics Market by type, application, and regions.
- The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
- Porter’s Five Forces model is used in order to recognize the competitive scenario in the global construction plastics market. This report incorporates the industry analysis which is focused on providing an extensive view of the construction plastics market.
- The study also includes attractiveness analysis of components, plastic type, application, and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the construction plastics market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Increasing urbanization
- Demand for lightweight and low maintenance construction materials
- Volatility in raw material prices especially that of Crude oil
- Rise in spending on housing infrastructure development in developing economies
- Improvement in technology and cost effectiveness
- Adoption of Green Building practices
- Threat of slowdown in global economy
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacific region dominated the global construction plastics market with almost 48.65% of the market share in 2017. This region is expected to progress at robust pace over the forecast period due to huge spending that is being undertaken for the development of housing, commercial and industrial infrastructure. Middle East region on account of ongoing construction boom in the Qatar, UAE and Saudi Arabia is also proving to be a major propelling factor for the demand while South America region is forecasted to register highest growth rate of 8.21% CAGR among all regions.
The major 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.
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