Dublin, Dec. 27, 2024 (GLOBE NEWSWIRE) — The “Construction Plastics Market – Global Industry Size, Share, Trends, Opportunities and Forecast, 2019-2029F” report has been added ResearchAndMarkets.com Offer.
The construction plastics market was valued at $110.92 million in 2023 and is expected to reach $177.11 million by 2029, growing at a compound annual growth rate of 8.11%.
As sustainability becomes a priority, construction plastics are gaining importance due to their potential to reduce energy consumption and waste. Many of these materials are recyclable and are in line with green building initiatives and government standards that aim to minimize environmental impact. The versatility of construction plastics enables innovations in design and functionality that address diverse architectural needs while providing cost-effective solutions. Technological advances are also contributing to this growth, as manufacturers develop new formulations and processing techniques that improve the performance characteristics of plastics and make them suitable for more demanding applications.
The rise of prefabrication and modular construction methods that emphasize efficiency and speed is further increasing the demand for construction plastics due to their ease of use and installation. The post-pandemic economic recovery in many regions is driving infrastructure projects, creating a favorable environment for the construction plastics market to thrive. Strategic investments by key players in research and development as well as collaborations with construction companies promote innovation and expand the possible uses of plastics in construction.
As countries introduce stricter building codes and energy efficiency standards, the use of construction plastics is expected to increase as they can contribute to improved thermal insulation and overall building performance. Finally, increasing awareness of the benefits of construction plastics among contractors and builders, including lower maintenance costs and longer product life, is driving their adoption. In summary, the construction plastics market is poised for significant growth driven by demographic trends, sustainability initiatives, technological advances and evolving construction practices, positioning these materials as essential components for the future of the construction industry.
Growth of prefabrication and modular construction
The trend of prefabrication and modular construction is gaining momentum in the construction industry and is having a significant impact on the construction plastics market. This method, in which building components are manufactured off-site and assembled on-site, offers numerous benefits, including reduced construction time, lower labor costs and improved quality control. As demand for faster and more efficient construction processes increases, construction plastics are becoming an integral part of this approach. Construction plastics are lightweight and easy to handle, making them ideal for prefabricated components.
Increased regulatory focus on building materials
The construction plastics market is experiencing a trend driven by an increasing regulatory focus on construction materials as governments and regulators strive to improve safety, sustainability and environmental performance. More stringent building codes and standards are being implemented worldwide, forcing manufacturers to develop products that not only comply with regulations, but also promote best practices in construction. These regulations often require the use of materials that meet certain energy efficiency criteria, which may impact the types of construction plastics preferred in the market.
Segmental insights
Enter insights
The polyvinyl chloride segment dominated the construction plastics market in 2023 and is expected to maintain its leadership position throughout the forecast period. Polyvinyl chloride is widely recognized for its exceptional durability, versatility and cost-effectiveness, making it a preferred choice for various construction applications including plumbing, flooring, window frames and cladding. Its resistance to moisture, corrosion and environmental influences makes it attractive for both residential and commercial construction projects. The ease of manufacturing and installation of polyvinyl chloride products contributes to lower labor costs and shorter project timelines, further strengthening the company's market position.
As sustainability becomes a critical focus in the construction industry, advances in polyvinyl chloride recycling technology are also improving the environmental profile and enabling increased use of recycled content in new products. This shift towards sustainable practices is resonating with builders and consumers looking for eco-friendly options, supporting the continued dominance of the polyvinyl chloride segment.
Advancing urbanization and infrastructure development in various regions is driving the demand for durable building materials, with polyvinyl chloride being the main material of choice. While other segments such as polyurethane, polypropylene and polyethylene have growth potential, they cannot compete with polyvinyl chloride's broad applicability and established reputation in construction. Therefore, the polyvinyl chloride segment, with its unique combination of performance, adaptability and sustainability, will remain the cornerstone of the construction plastics market in the coming years.
Regional insights
North America dominated the construction plastics market in 2023 and is expected to maintain its leadership position throughout the forecast period. This dominance can be attributed to a combination of factors, including a robust construction industry driven by significant investments in infrastructure development, housing and commercial projects. The region's established manufacturing base and advanced technological capabilities have facilitated the production of high-quality construction plastics that meet the diverse needs of builders and contractors.
The growing importance of sustainable building practices and green construction in North America has fueled demand for environmentally friendly materials and further encouraged the use of construction plastics. Regulatory frameworks that promote energy efficiency and environmental stewardship encourage the adoption of materials that contribute to these goals. Increasing urbanization and population growth in major metropolitan areas are increasing the need for efficient building solutions, with construction plastics preferred for their durability and versatility.
As the region continues to invest in smart infrastructure and innovative construction methods, demand for construction plastics is expected to increase. While other regions such as Europe and Asia Pacific also show promise, North America is positioning itself as a leader in the construction plastics market due to the combination of economic stability, technological advancements and regulatory support. With a strong focus on sustainability and a commitment to infrastructure modernization, North America is well positioned to maintain its dominance in the construction plastics sector in the coming years.
Key attributes:
| Report attribute | Details |
| Number of pages | 185 |
| Forecast period | 2023 – 2029 |
| Estimated market value (USD) in 2023 | $110.92 million |
| Forecasted market value (USD) by 2029 | $177.11 million |
| Compound annual growth rate | 8.1% |
| Regions covered | Global |
Report scope:
Important market participants
- BASF SE
- 3M company
- REHAU Industries SE & Co. KG
- DuPont de Nemours, Inc.
- Dow Inc.
- LyondellBasell Industries NV
- Saudi Basic Industries Corporation
- Berry Global Group, Inc.
- Kraton Corporation
- Huntsman Corporation
Construction plastics market, by type:
- Polyvinyl chloride
- Polyurethane
- Polypropylene
- Polyethylene
Construction plastics market, by application:
- Window
- canopy
- flooring
- insulation
- Piping
Construction plastics market by region:
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Belgium
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Indonesia
- Vietnam
- South America
- Brazil
- Colombia
- Argentina
- Chile
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
- turkey
- Israel
For more information about this report, please visit https://www.researchandmarkets.com/r/kkaip9
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Construction plastics market
