Global Building and Construction Plastics Market By Product Type (Polyvinyl Chloride, Polystyrene, and Other Product Types), By Application (Roofing, Insulation, Pipes & Ducts, Wall Coverings, and Other Applications), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Building and Construction Plastics Market Overview:

In 2021, the global building and construction plastics market was worth USD 1,05,230 million. The market is expected to grow at 6.9% between 2023 and 2032.

The market has been boosted by increasing population and urbanization around the world. The market will also benefit from various government initiatives to improve its building structure.

There are significant technological and material improvements in the market to lower production costs and improve infrastructure. The government’s integrated initiatives to encourage foreign investment and the introduction of green building projects are expected to boost the growth of Asia Pacific’s market.

Global Building and Construction Plastics Market Scope:

Product Type Analysis

With a 40.8% revenue share in 2021, Polyvinyl Chloride was the dominant global market player. PVC’s lightweight and able to be assembled in many shapes are key factors driving the segment’s growth.

Polyvinyl chloride is easy to remove and recycle and can be used in difficult locations and under exposed conditions. It is a versatile thermoplastic material used in most consumer goods manufacturing. PVC can also be used in many other applications, such as electronics, healthcare, construction, and electronics.

Due to its versatility in the fabrication of both rigid products and flexible ones, polyvinylchloride will see significant demand growth over the forecast period. There are many PVC alternatives, but they are not as efficient or as cost-efficient as PVC.

It is used extensively in the construction industry. The product is used in many areas, including pipes, tubes, and fittings for water distribution and sewers, as well as electrical conduits, gutters and downspouts, and fencing & decking, roofing, Door frames & Windows, conveyor belts for food processing and chemical processing.

Polyurethane is the fastest-growing segment in terms of both volume and value over the forecast period. Polyurethane’s ability to mold into unusual shapes is one of its most important attributes. Polyurethane is also used in footwear, automobile, refrigeration & freezer, furniture, bedding, sealants, and elastomers.

Polyurethane is a high-performance material that is lightweight, strong, and easy to install. It also has a lot of versatility, making it an attractive choice for construction. Polyurethane can be used to insulate structure cavities, walls, roofs, and around pipes.

Application Analysis

With a 38.2% revenue share in 2021, pipes & ducts were the most prominent application segment of the global building and construction plastics market. For a variety of purposes, plastic pipes and tubing systems can be used inside and outside buildings.

Pipes are used to distribute and remove waterborne duct systems. They are used in air conditioning, heating, exhaust systems, ventilation, and air conditioning. You can make ducts with a variety of materials, including aluminum, mild steel, polyurethane, and fiberglass.

Because of their light weight and low thermal conductivity, the product is popularly used in windows. This reduces both heating and cooling costs. The durability of plastic composites helps to reduce maintenance costs and time. This is expected to help the segment grow.

Kеу Маrkеt Ѕеgmеntѕ

By Product Type

• Polyvinyl Chloride
• Polystyrene
• Polyethylene
• Polyurethanes
• Other Product Types

By Application

• Pipes & Ducts
• Roofing
• Wall Coverings
• Insulation
• Other Applications

Market Dynamics:

Green building construction is based on resources that reduce environmental pollution. The plastics, such as PET, low-density polyethylene (LDPE), vinyl chloride (PVC), high-density polyethylene (HDPE), polypropylene(PP), and polystyrene, are recyclable, strong, and durable. This will allow for greater utilization of these materials in green building construction. The rising popularity of green buildings will drive demand for plastics in construction.

Plastics are preferred by most architects, builders, and design professionals over other materials due to their ease of maintenance. As a growing number of companies offer fire-resistant, cost-effective plastics, the demand for this product in decoration and construction is expected to increase over the forecast period.

Prices for raw materials like ethylene, propylene, and styrene depend heavily on crude oil prices, which are volatile. The market for plastic manufacturing consumes 6% crude oil. Volatility in the market is expected to limit its growth over the forecast period.

Regional Analysis

The Asia Pacific was responsible for 39.3% of the total revenue in 2021. Due to rapid urbanization and increasing population, it is expected that infrastructure spending will increase over the next few years.

North America is a key market for construction and plastics. The market will be driven by the expansion of the construction industry in the U.S. and Canada. The forecast period will see a rise in the demand for old buildings being renovated. This is expected to boost the market’s growth. In North America, trade associations such as the Plastics Industry Association and the National Association of Plastic Industries are launching initiatives to promote the development and growth of plastics and their end applications.

Rising demand from Brazil, Chile, and other countries in South America drives the growth of Central and South America. With the increasing population, the demand for construction is on the rise. The product will be in high demand due to government investments in infrastructure and the rising demand for commercial buildings.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Global markets are highly competitive due to the presence of many multinationals as well as local manufacturers. To meet the rising demand in emerging markets, companies invest significant amounts of capital. They also participate in acquisitions and mergers of top manufacturers from emerging countries. Companies are also involved with extensive research and development.

The market’s key players include Borealis AG and BASF SE. These companies have established manufacturing facilities worldwide and have an extensive distribution channel to expand their global reach.

Маrkеt Kеу Рlауеrѕ:

• BASF SE
• Chevron Phillips Chemical Company, LLC
• DowDuPont Inc.
• Koninklijke DSM N.V
• INEOS Group Holdings S.A.
• Lanxess Aktiengesellschaft
• LG Chem Ltd.
• LyondellBasell Industries Holdings B.V.
• SABIC
• Solvay S.A.
• Other Key Players

For the Building and Construction Plastics Market research study, the following years have been considered to estimate the market size: