Global Construction Plastics Market

Posted May 22, 2021 by chetanag

Global Construction Plastics Market was valued at US$ 82.90 Bn in 2019 and is expected to reach US$ 145.50 Bn by 2026 at a CAGR of 7.28%.
Global Construction Plastics Market was valued at US$ 82.90 Bn in 2019 and is expected to reach US$ 145.50 Bn by 2026 at a CAGR of 7.28%.

The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.

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The growth in consumption of lightweight materials like plastics is driving the demand for construction plastics. The low cost of plastics compared with other substitute materials is also expected to boost the construction plastics market. Rising demand for PVC in the building & construction industry, growing demand for expanded polystyrene (eps) plastics are expected to drive the global construction plastics market.

Furthermore, the Prohibition of PVC products in green buildings is expected to limit the growth in the global construction plastics market. Increasing investments and financial attractiveness in emerging economies and high demand for construction plastics in the Asia Pacific are the opportunities for the global construction plastics market.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology. The report also helps in understanding the global construction plastics market dynamics, structure by identifying and analyzing the market segments and project the global market size.

Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global construction plastics market.

Polyvinyl chloride is estimated to grow at a high rate of CAGR during the forecast period. Polyvinyl chloride is mainly used in the pipes' application, which delivers properties, such as thermal conductivity, insulation, scratch resistance, durability, design freedom, and flexibility. Additionally, it offers a low cost as compared with other materials. Polyvinyl chloride offers the benefits such as lightweight and its ability to be assembled & molded in a variety of shapes. It also can be removed and recycled with ease and is appropriate for use at inaccessible locations and exposed conditions. It is an adaptable thermoplastic material that is used in the industrial of majority consumer goods.

Besides the construction segments, new construction and renovation are increasing demand for plastics to residential construction and non-residential construction. Residential construction is currently an important driving force for the demand for plastics. The continuing trend of urbanization in large parts across the globe is a decisive factor. Creating inexpensive living space in the cities is one of the most crucial aspects of many national development plans.

Geographically, Asia Pacific is expected to share significant growth in the global construction plastics market during the forecast period. The growth in the market is attributed to the rapid industrialization and growing personal disposable incomes, coupled with the rising demand for plastics from numerous end-use industries like construction are expected to drive the growth in the construction plastics market.

Additionally, China’s large production capacity at low rates is creating the region attractive for the construction plastics market. Many key industries like building & construction and others have moved from the western regions to the developing countries of the Asia Pacific includes China and India owing to the availability of cheap labor, supportive government policies, and readiness of natural resources. These are the factors, which promote the growth of the construction plastics market in this region.

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Global Construction Plastics MarketKey Players in the Global Construction Plastics Market

• Borealis AG
• Solvay S.A.
• Formosa Plastics Corporation
• Saudi Basic Industries Corporation (SABIC)
• Asahi Kasei Corporation
• Lyondellbasell Industries Holdings B.V.
• Excelite
• ACH Foam Technologies
• Ineos Olefins & Polymers USA
• Plazit Polygal Group
• JM Eagle
• Berry Plastics Corporation
• Total S.A.
• Engineered Profiles LLC.
• Saint-Gobain S.A.
• China Petrochemical Corporation
• Sumitomo Chemical
• PJSC Sibur Holding
• Sigma Plastics Group
• Apes Industries Inc.
• Chevron Phillips Chemical Company LLC

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Issued By chetana
Country India
Categories Business
Tags construction plastics market
Last Updated May 22, 2021