How Has the Construction Elastomers Market Size Evolved in Recent Years?
The construction elastomers market has seen considerable growth due to a variety of factors.
• In the past few years, the market size for construction elastomers has experienced robust growth. The market, valued at $6.27 billion in 2024, is anticipated to surge to $6.82 billion in 2025, marking a compound annual growth rate (CAGR) of 8.7%.
Factors such as urbanization, energy efficiency, weather resistance, sustainable construction, and infrastructure development have contributed to this growth during the historic period.
What are the Market Size and Expected Growth Rates for the Construction Elastomers Market?
The construction elastomers market is expected to maintain its strong growth trajectory in upcoming years.
• It is predicted that the construction elastomers market will experience significant expansion in the ensuing years, expected to reach $9.84 billion in 2029 with a compound annual growth rate (CAGR) of 9.6%.
Factors propelling the growth during the forecast period include the requirement for resilient and disaster-resistant structures, energy-conserving green buildings, innovative smart building technologies, renovation of aging infrastructure, and revitalization of urban areas. The future trends contributing to the growth during this period are seismic resilience, innovative cool roof systems, self-restoring elastomers, 3D printing and customization, along with elastomeric roof coverings.
What Are The Essential Drivers Behind The Growth Of The Construction Elastomers Market?
Anticipated market growth in the construction elastomer industry is primarily driven by the rise in demand for sustainable buildings during the forecast period. The purpose of green construction is to mitigate the sector's environmental impact through the application of sustainable developmental practices, heightened energy efficiency, and the use of eco-friendly technologies. Construction elastomers, known for being environmentally friendly, renewable and safe for both residential and non-residential uses, are poised to benefit from this trend. As indicated by a recent study by the World Green Building Council in 2023, there has been a significant surge in the demand for sustainable buildings. The report highlighted that 71% of respondents globally have seen an increased demand for green buildings, and this figure rises to 75% for professionals based in Europe. Even in regions like the Middle East and Africa, where the demand growth rate was lowest, around 39% of survey participants reported an uptick in demand. This trend has the potential to significantly boost the demand for construction elastomers and stimulate the market's growth.
How Is The Global Construction Elastomers Market Divided Into Key Segments?
The construction elastomers market covered in this report is segmented –
1) By Type: Thermoset, Thermoplastic
2) By Chemistry: Styrene Block Copolymers (SBCS), Thermoplastic Polyurethanes (TPU), Styrene-Butadiene (SBR), Ethylene Propylene Diene Monomer (EPDM), Natural Rubber, Acrylic Elastomer (ACM), Butyl Elastomer, Other Chemistry
3) By Application: Residential, Non-Residential, Civil Engineering
Subsegments:
1) By Thermoset: Polyurethane Elastomers, Epoxy Elastomers, Silicone Elastomers, Polyisoprene Elastomers
2) By Thermoplastic: Thermoplastic Polyurethane (TPU), Styrenic Block Copolymers (SBC), Thermoplastic Vulcanizates (TPV), Thermoplastic Olefins (TPO)
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What Trends Are Reshaping The Future Of The Size Market?
The upswing in R&D investments by key players to bolster elastomer processing and generate innovative products has emerged as a prominent trend in the building elastomer market. Major firms engaged in the construction elastomer field are prioritizing investments in research and development to cater to customer requirements and solidify their market standing. To illustrate, Mallard Creek Polymers rolled out Rovene 6520 in May 2023, a state-of-the-art all-acrylic emulsion polymer crafted for top-notch elastomeric roof coatings. This novel product comes with improved durability and adhesive qualities, surpassing industry benchmarks like ASTM D 6083. The launch signifies Mallard Creek's continued commitment towards offering inventive solutions for the elastomeric roof coatings sphere, with a keen emphasis on sustainability and performance.
Who Are the Key Players in the Construction Elastomers Market?
Major companies operating in the construction elastomers market include:
• Dow Chemical Company
• Arkema SA
• BASF SE
• Covestro AG
• Huntsman Corporation
• Tosoh Corporation
• Evonik Industries AG
• Mitsubishi Chemical Company
• The Lubrizol Corporation
• PJSC SIBUR Holding
• Teknor Apex Company
• Dynasol Group
• Kraton Corporation
• Asahi Kasei Corporation
• Exxon Mobil Corporation
• Lanxess AG
• Zeon Corporation
• JSR Corporation
• LG Chem Ltd.
• Kuraray Co. Ltd.
• Momentive Performance Materials Inc.
• Wacker Chemie AG
• Bridgestone Corporation
• Continental AG
• Eastman Chemical Company
• Compagnie Générale des Établissements Michelin
• Shin-Etsu Chemical Co. Ltd.
• Sumitomo Chemical Co. Ltd.
• The Goodyear Tire & Rubber Company
• Trinseo LLC
What are the Regional Insights into the Construction Elastomers Market?
Asia-Pacific was the largest region in the construction elastomers market in 2024. North America was the second-largest market in the construction elastomers market share. The regions covered in the construction elastomers market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
