Construction Plastic Market - Forecasts from 2022 to 2027

Construction plastic market is projected to grow at a CAGR of 4.56% to reach US$134.329 billion by 2027, from US$98.34 billion in 2020.

'Plastic' is a synthetic material that is based on organic polymers. The construction industry uses plastic for a wide range of applications because of its versatility, strength-to-weight -ratio, durability, corrosion resistance, ease-to-install, energy-saving, and so on. Moreover, the low cost of plastic compared to other substitutes; along with the adoption of green building practices and the use of recycled plastic in residential and non-residential buildings are expected to provide lucrative opportunities in the growth of the global market.

However, the price impact of upstream raw materials such as crude oil and feedstock is anticipated to hamper the growth of the building & construction plastics market. Therefore, new product developments, investment in research, mergers & acquisitions, and joint ventures are done by the key players so that the growth continues to be at a steady pace.

The rise in the Construction of Green buildings is expected to propel the growth of the Construction plastic market

The rising environmental pollution has given rise to the construction of green buildings. Plastics are used in the construction of green buildings because of their features like recyclability, durability, and high strength. Thus, the growing popularity and awareness of people about green buildings are expected to increase the demand for plastics in construction.

According to the United States Census Bureau, the total construction value in the United States was $1,077,350 million in 2008 which grew to $1,293,982 million in 2018. This shows that the construction industry has expanded and grown over the years; which leads to the growth of the construction plastic market, as plastics are very useful because of their characteristics - durability, corrosion resistance, easy to install, strength-to-weight ratio, and so on.

By Type

By type, the construction plastic market is segmented as acrylic, composites, expanded polystyrene, ETFE, polycarbonate, polyethylene, polypropylene, polyvinyl chloride (PVC), and PTFE. Polyvinyl chloride (PVC) holds a significant share of the market because of its lightweight and its ability to be molded and assembled in different shapes.

By End-user

By end-user, the construction plastic industry is segmented as residential and non-residential. The non-residential segment holds a significant share of the market because plastic is cost-effective, recycling capability is energy-saving, easy to install and so on. According to the United States Census Bureau, the non-residential segment accounted for a total construction value of $747,809 million as compared to $546,173 million for the residential segment.

By Application

By application, the construction plastic market is segmented as pipes & ducts, insulation, sanitary equipment, interior covering, windows and door panels, exterior covering, weatherboarding, and roofing. Pipes & ducts hold a significant share in the market because of their application both within and outside the building for water service, plumbing, heating & cooling, fire protection, snow melting, and geothermal piping systems.

By Geography

Geographically, the construction plastic market is segmented into North America, South America, Europe, Asia-Pacific, and Middle East & Africa. The Asia-Pacific holds a significant market share and is anticipated to grow rapidly as a result of the growing focus of the government on the emerging economies of the region to support domestic infrastructure.

Key Developments:

• September 2022: Bow Plumbing Group, a Montreal-based producer of plastic fittings and pipes for the North American residential and commercial construction market, was bought by Wavin, a global solutions provider for the infrastructure and building industry and an Orbia business. Wavin's investment in the Bow Plumbing Group expands and deepens its presence in this crucial industry, enabling it to provide customers and stakeholders with effective, all-encompassing water management solutions. The Wavin business will be propelled on its growth journey by this acquisition, which combines Bow's commercial reach and in-depth knowledge of the North American market with Wavin's global footprint and innovation capabilities. It will also lead the way for future sustainable residential and urban development.
• September 2022: A roofing firm GAF is to invest $146 million and hire 135 workers over the following six years to construct a plant in the city of Valdosta in South Georgia. The announcement was made by GAF, a part of privately held Standard Industries of New York. Production is anticipated to commence in early 2024 after construction is expected to begin this fall. The business will produce thermoplastic polyolefin roofing, a plastic membrane primarily used to cover flat or low-slope commercial building roofs. According to GAF, the facility will speed up customer service. The same product is being produced by the business in New Columbia, Pennsylvania; Gainesville, Texas; Mount Vernon, Indiana; and Cedar City, Utah.

Product Offerings:

• BASF Elastollan: For railway pads, Elastollan is the material of choice due to its superior elastic behavior and weather resistance. This material has a strong, exceptional compression set and is available in several hardness grades. Additionally, Elastollan possesses remarkable damping qualities, unmatched carrying capacity, and superior abrasion resistance. TPU is particularly economical for railway pads due in part to the materials' longevity.
• Solvey Halar ECTFE: Halar ECTFE is a semi-crystalline polymer that is partially fluorinated and offers a special set of qualities for highly demanding industries. It is frequently utilized as a liner or in self-supporting constructions in anti-corrosion applications. Halar ECTFE is recommended for cable and wire applications due to its strong chemical and fire resistance qualities. Purity, chemical resistance, surface smoothness, and fire resistance are offered by Halar ECTFE, which are essential qualities in the photovoltaic and semiconductor markets. Halar ECTFE is frequently used in anti-corrosion applications such as coating, pipe constructions that can support themselves, and architectural films.

Segmentation:

• By Type

Composites

Polyethylene

Polyvinyl Chloride (PVC)

• By Application

Windows

Roofing

Sanitary Equipment

Insulation

Pipes & Ducts

Others

• By Geography

North America

• USA
• Canada
• Mexico

South America

• Brazil
• Argentina
• Others

Europe

• UK
• Germany
• France
• Spain
• Italy
• Others

Middle East and Africa

• UAE
• Israel
• Saudi Arabia
• Others

Asia Pacific

• Japan
• China
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others