Rising government investment in construction activities and increasing demand for polyvinyl chloride in construction industry are key factors driving market revenue growth
The global Construction Plastics Market size is expected to reach USD 149.94 billion in 2028 and register a revenue CAGR of 7.2% over the forecast period, according to a latest report by Reports and Data. Market revenue growth is primarily driven by rising investment of government bodies in development of commercial buildings public infrastructures in emerging countries such as India, China, Brazil, and Indonesia. In India, for instance, infrastructure sector is developing and a fast pace and it has become one of the biggest focus areas in the industry. The Indian government is planning to invest approximately USD 1.4 trillion on infrastructure during 2019-23 for accelerating sustainable development of this country.
Rising usage of plastics in a wide range of applications, especially in the construction industry, including piping, insulation, interior design, and window frames, is expected to drive revenue growth of the market during the forecast period. Plastic materials are being extensively used in the construction industry, owing to excellent strength-to-weight ratio, cost-effectiveness, corrosion resistance, requirement of low maintenance, high durability, and great versatility properties.
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Key Companies In The Market Include: Dowdupont Inc., BASF SE, Asahi Kasei Corporation, Lyondellbasell Industries Holdings B.V., Borealis AG, Solvay S.A., Formosa Plastics Corporation, Saudi Basic Industries Corporation (SABIC), Berry Plastics Corporation, And JM Eagle.
Further Key Finding From the Report Suggestion:
In June 2021, BASF SE introduced VALERAS, a new brand of its plastic additives portfolio. It would enable customers to achieve different sustainability goals. This new brand is expected to bring a significant sustainability value to plastic applications by reducing emissions, improving durability, promoting biodiversity, and saving energy. This new product portfolio would continuously evolve to support customers in the plastics industry on accelerating sustainability journeys. BASF SE introduced this new brand with an aim to increase sustainability of plastics, along the entire polymer value chain.
Polyvinyl chloride segment is expected to account for largest revenue share in the global construction plastics market over the forecast period. This type of plastic is easy is mold, highly recyclable, and lightweight. Unlike other type of plastics, polyvinyl chloride is the most versatile material as it is being extensively used in pipes fittings, flooring, window door profiles, and roof membranes.
The construction plastics market in Asia Pacific is expected to account for largest revenue share over the forecast period. Governments of emerging countries such as India, China, and Indonesia are investing huge sums in the development of commercial buildings and public infrastructures. This factor is expected to drive demand for construction plastics in this region during the forecast period.
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Market Segmentation:
Type Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
- Polyvinyl Chloride
- Polypropylene
- Polyethylene
- Expanded Polystyrene
Application Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)
- Windows Doors
- Pipes
- Insulation Materials
Regional Outlook:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Key Questions Covered In The Global Construction Plastics Market Report:
- What Is The Expected Market Size Of The Global Construction Plastics Market During The Forecast Period?
- What Factors Are Expected To Hamper Global Construction Plastics Market Growth Over The Forecast Period?
- What Key Factors Are Expected To Drive Global Revenue Growth Between 2021 And 2028?
- Which Application Segment Is Expected To Dominate Other Application Segments Over The Forecast Period?
- Which Region Is Expected To Dominate In Terms Of Revenue During The Forecast Period?
- What Are The Key Outcomes Of Porter’s Five Forces Analysis And SWOT Analysis?
- Which Leading Players Are Operating In The Global Construction Plastics Market?
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