The global construction elastomers market size is expected to grow from $4.75 billion in 2021 to $5.27 billion in 2022 at a compound annual growth rate (CAGR) of 10.9%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The construction elastomer market is expected to reach $6.89 billion in 2026 at a CAGR of 6.9%.
What is the Global Construction Elastomers Market?
The construction elastomers market consists of sales of elastomers by entities (organizations, sole traders, and partnerships) that are synthetic polymers having elastic properties used in the construction industry. Elastomers are rubbery materials comprised of lengthy chainlike molecules or polymers which can be stretched to vast distances and still return to their original shape. Elastomers combine the benefits of both plastics and rubber, resulting in a new form that is used in a variety of construction applications. The strong impact and tear resistance of construction elastomers is utilized for roofing sheets and window profiles, building insulation, adhesives, gaskets, and door handle seals.
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What drives the Global Construction Elastomers Market?
The increase in the demand for sustainable buildings is expected to serve as a major driver of the construction elastomer market in the forecast period. The goal of sustainable construction is to reduce the industry's environmental effect by implementing sustainable development methods, increasing energy efficiency, and adopting green technologies. Construction elastomers are environmentally benign, renewable, and secure to use for both residential and non-residential purposes. For instance, according to a survey conducted by the Royal Institution of Chartered Surveyors (RICS) and the World Built Environment Forum in 2021, 55% of respondents said demand for buildings considered ‘green’ or ‘sustainable’ had risen. In addition, Europe saw the greatest increase in demand, with 69% of respondents reporting higher demand. Even in the Middle East and Africa, where demand growth was the slowest, 39% of respondents said demand had increased. This will create a significant demand for the construction elastomers and thus will aid the growth of the market.
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Global Construction Elastomers Market Segments
The global construction elastomers market is segmented:
By Type: Thermoset, Thermoplastic
By Chemistry: Styrene Block Copolymers (SBCs), Thermoplastic Polyurethanes (TPU), Styrene-Butadiene (SBR), Ethylene Propylene Diene Monomer (EPDM), Natural Rubber, Acrylic Elastomer (ACM), Butyl Elastomer (IIR), Others
By Application: Residential, Non-Residential, Civil Engineering
By Geography: The regions covered in the construction elastomers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Construction Elastomers Global Market Report 2022provides market size and growth forecasts for the global construction elastomers market, global construction elastomers market share, construction elastomers market segments and geographies, construction elastomers market competitive landscape including leading competitors’ revenues, profiles and market shares. The construction elastomers market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Construction Elastomers Industry Playersinclude The Dow Chemical Company, Arkema S.A, BASF SE, Covestro AG, Huntsman Corporation, Tosoh Corporation, Evonik Industries AG, Mitsubishi Chemical Company, The Lubrizol Corporation, SIBUR, Teknor Apex Company, Dynasol Elastomers, Kraton Corporation, Asahi Kasei Corporation, Exxon Mobil Corporation and Lanxess Ag. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
