The global thermoplastic elastomers market size is estimated to USD 5.1 billion in 2021 and is projected to reach USD 6.7 billion by 2026, at a CAGR of 5.8% between 2021 and 2026. The recovery of the construction sector across the world is driving the global construction elastomers market during the forecast period.

Elastomers are basically natural or synthetic polymers having elastic properties. They are made of polymers, which are joined by chemical bonds and acquire a crosslinked structure. Elastomers are broadly classified into thermoset and thermoplastic elastomers. The elastomers that are used in the construction industry are known as construction elastomers. These elastomers when used in the construction industry provide advantages of both plastics and rubber. They are also adaptable to many construction applications such as window profile seals, pipe seal applications, dilatation seals, door & garage seals, hose & tube applications, other seal applications, and flame retardant applications. The high impact and tear strength of elastomers have increased their demand in the building & construction and automotive industries. Construction elastomers are recyclable, environment-friendly, and safe to use in residential and well as non-residential applications.

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The construction elastomers market is segmented on the basis of application as residential, non-residential, and commercials. In residential sector, construction elastomers is used in window profile seals, pipe seal applications, dilatation seals, door & garage seals, hose & tube applications, and other seal applications. In building & construction, construction elastomers is mainly used as roofing membrane, bitumen modification, roofing membranes, weather-stripping, waterproofing, carpeting, wall coverings, window & weather seals.

Construction elastomers can be broadly classified into styrene block copolymers (SBC), thermoplastic polyurethane (TPU), thermoplastic polyolefin (TPO), thermoplastic vulcanizate (TPV), and ethylene propylene diene monomer (EPDM). Construction elastomers are among the most innovative products in the elastomers market as they have the functional properties of thermoset rubber and possess the strength of thermoplastics.

The major industry players are adopted acquisitions, expansions, joint venture, and new product development as growth strategies in the last four years. The leading players in the market are Arkema S.A (France), Asahi Kasei Corporation (Japan), BASF SE (Germany), The Dow Chemical Company (The US), Covestro AG (Germany), Huntsman Corporation (The US), Teknor Apex Company (The US), Lubrizol Corporation (The US), Tosh Corporation (Japan), Kraton Corporation (The US), China Petroleum and Chemical Corporation (China), Mitsubishi Chemical Company (Japan), DuPont (The US), SIBUR (Russia), Evonik Industries AG (Germany), Dynasol Elastomers (Spain).

Arkema is involved in the manufacturing and sales of several chemical products that find applications in consumer goods, paint & coatings, building & construction, and other industries. The company operates business through four segments: adhesive solutions, advanced materials, coating solutions, and intermediates. The company offers construction elastomers under the advanced materials division. Arkema has 144 production facilities and presence across 55 countries.

BASF SE is chemical conglomerate and has a strong presence across the globe. The company supplies its products through 11 divisions, which are grouped into six segments: chemical, materials, industrial solutions, surface technologies, nutrition & care, and agriculture solutions. The company has a broad portfolio comprising 75 strategic business units. It produces construction elastomers under the performance material division, within the materials segment. The company operates 6 Verbund sites and 241 production sites across 90 countries. The Verbund concept allows the company to fully integrate the production process, technology, distribution channel, and recently the digital channel; to create efficient value chains that help in saving raw material cost, improve product yield, minimize emission, and lower logistic costs.

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The construction elastomer market in 2020 declined by -0.05%, in terms of volume, compared to 2019 due to the COVID-19 pandemic. Import and export of elastomer decline due to government restriction and decline in the demand. The construction activities was halted due to disruption in the supply chain. With the declining construction activities, the demand for construction elastomers also decreased.

The companies have initiated the following developments:

In January 2020, Arkema SA acquired LIP Bygningsartikler AS (Denmark), the Danish leader in tile adhesives, waterproofing systems, and floor preparation solutions. The acquisition will strengthen Arkema’s strategy to continuously grow its adhesives business.
In January 2020, BASF acquired the global, non-European PA6.6 business from Solvay (Belgium) including its 50% share in Butachimie’s adipodinitrile (ADN) production. The price of the acquisition was USD 1.53 billion. The acquisition will broaden BASF’s polyamide capabilities with innovative and well-known products such as Technyl.
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