What Is The Current and Historic Market Size Analysis Of The Construction Plastics Market?
The construction plastics market has seen considerable growth due to a variety of factors.
• In recent times, there has been notable expansion in the construction plastics market. The market, which was worth $109.15 billion in 2024, is projected to increase to $117.79 billion in 2025, representing a compound annual growth rate (CAGR) of 7.9%.
Factors contributing to this growth during the historic period include the rising demand for both repairs and renovations in the building sector, increased construction and infrastructure projects, a growing focus on green building and sustainability, enhanced adherence to regulatory norms, as well as the surge in urbanization and population increase.
What Are The Predictions for The Construction Plastics Market Size In The Coming Years?
The construction plastics market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated to witness robust growth in the coming years, the construction plastics market size is predicted to reach a value of $170.36 billion in 2029, with a compound annual growth rate (CAGR) of 9.7%.
The expansion during the forecast period can be ascribed to the rise in digital construction procedures, adherence to a circular economy, implementation of construction safety regulations, growth in emerging markets, and increased adaptability to shifting climatic conditions. Key trends that are likely to mark the forecast period comprise of the usage of lightweight and durable plastic materials, thermoplastic roofing adoption, incorporation of smart plastic materials enabled with sensors and data connectivity, soundproofing plastics, creative solutions, and strategic alliances.
Which Key Drivers Are Propelling The Construction Plastics Market's Growth?
The construction plastic market's expansion is primarily fueled by advancements in building, construction, and infrastructure standards. Countries with significant construction activity, such as China, Brazil, India, Saudi Arabia, and Indonesia, have been emerging markets. The AECOM anticipates that the global construction market is set to sustain its robust growth pattern, with projections revealing an escalation from $13.35 trillion in 2023 to approximately $17.60 trillion by 2026, marking a compound annual growth rate (CAGR) of around 5.3%. The continuous requirement for plastics in the construction industry, owing to their lightweight, user-friendly, and low-maintenance attributes, persists in spite of the widespread criticism of plastic use. The global market has also profited significantly from the absence of high-quality plastic replacements. Consequently, the rising standard of building, construction, and infrastructure is expected to add to the growth of the construction plastics market.
What Are The Key Segments Within The Global Construction Plastics Market?
The construction plastics market covered in this report is segmented –
1) By Type: Polyethylene, Polypropylene, Polyvinyl Chloride
2) By Application: Insulation Materials, Pipes, Windows & Doors
3) By End-User: Non-Residential, Residential
Subsegments:
1) By Polyethylene: Low-Density Polyethylene (LDPE), Linear Low-Density Polyethylene (LLDPE), High-Density Polyethylene (HDPE), Cross-Linked Polyethylene (PEX)
2) By Polypropylene: Homopolymer Polypropylene, Copolymer Polypropylene (Block and Random Copolymer), Biaxially Oriented Polypropylene (BOPP)
3) By Polyvinyl Chloride (PVC): Rigid PVC, Flexible PVC, PVC Blends and Composites
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How Are New Trends Impacting The Size Of The Construction Plastics Market?
A rising trend in the market is the growing inclination towards reclaimed plastics. The global population is becoming more conscious of the detrimental effects of plastic materials on our ecosystem. This has prompted a swift surge in the demand for recycled environmentally-friendly plastics: these consist of bioplastics, produced from plant-based polymer resins and plastics that can be broken down by bacteria. An example of this was in March 2023, when BASF revealed the expanded IrgaCycle range of additive solutions, aimed at significantly improving plastic recycling initiatives. This assortment delivers specialised additive solutions that enhance the quality of recycled materials, allowing a larger amount of recycled content to be used in sectors such as construction, automotive, and packaging. BASF is persisting with its innovation in eco-friendly materials to satisfy the escalating demand for recycled plastics. In addition, Kimberly-Clark India widened its Project Ghar scheme in February 2023, partnering with the Plastics for Change India Foundation to build sustainable homes for waste collectors.
Who Are the Key Players in the Construction Plastics Market?
Major companies operating in the construction plastics market include:
• BASF SE
• Asahi Kasei Corporation
• Dow Inc.
• LyondellBasell Industries Holdings B.V.
• Borealis AG
• Solvay SA
• Saudi Basic Industries Corporation
• Berry Plastics Corporation
• TotalEnergies SE
• Excelite Alliance Private Ltd.
• Ach Foam Technologies LLC
• Chevron Phillips Chemical Company LLC
• China Petrochemical Corporation
• Engineered Profiles LLC
• Formosa Plastics Corporation
• Saint-gobain SA
• Exxon Mobil Corporation
• LG Chem Ltd.
• Braskem SA
• Arkema SA
• Covestro AG
• Mitsubishi Chemical Corporation
• Sumitomo Chemical Co Ltd.
• Eastman Chemical Company
• Shin-Etsu Chemical Co Ltd.
• Geberit AG
• Uponor Corporation
• Wavin B.V.
• Pipelife International GmbH
• REHAU AG + Co
What are the Regional Insights into the Construction Plastics Market?
Asia-Pacific was the largest region in the construction plastics market in 2024. The regions covered in the construction plastics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
