CHICAGO, December 20, 2018
CHICAGO, December 20, 2018 /PRNewswire/ --
According to the new research report "Construction Plastics Market by Plastic Types (Expanded Polystyrene, Polyethylene, Polypropylene, Polyvinyl Chloride), Application (Insulation Materials, Windows & Doors, Pipes), End User, and Region - Global Forecast to 2023", published by MarketsandMarkets™, the market is expected to grow from USD 75.6 billion in 2018 to USD 105.7 billion by 2023, at a CAGR of 6.9%. The growth of the Construction Plastics Market is attributed to the growing building & construction industry in both, residential and non-residential segments.
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120 - Tables
44 - Figures
160 - Pages
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Polyvinyl chloride segment is projected to grow at the highest CAGR, in terms of value, in the Construction Plastics Market during the forecast period
Based on plastics, the Construction Plastics Market has been segmented into expanded polystyrene, polyethylene, polypropylene, polyvinyl chloride, and others (acrylic sheets, polycarbonate sheets, and reinforced plastics). Polyvinyl chloride is projected to be the largest segment of the market during the forecast period. Polyvinyl chloride is largely used in the pipes application, and has properties including thermal conductivity, insulation, scratch resistance, durability, design freedom, and flexibility, which are driving the PVC market. Moreover, the cost of other materials is higher as compared with PVC.
Increasing consumption of PVC plastics is boosting the demand for the pipes application in the Construction Plastics Market
Based on application, the Construction Plastics Market has been segmented into insulation materials, windows and doors, pipes, and others (cladding panels, shuttering, ceiling panels, and wall linings). Among these, the pipes segment is projected to be the largest segment of the market during the forecast period. Pipes are made of lightweight materials and plastics. The growing demand for lightweight materials that ensure high efficiency in construction is also contributing to the growth of the pipes application in the Construction Plastics Market. In addition, plastics have several characteristics, such as scratch resistance, durability, design freedom, flexibility, thermal conductivity, and insulation which is driving the pipes application in the Construction Plastics Market during the forecast period. Another major application is windows & doors.
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Shifting of key manufacturers to the Asia Pacific is boosting the Construction Plastics Market in the region
The Construction Plastics Market has been studied for Asia Pacific, Europe, North America, Middle East & Africa, and South America. The Asia Pacific Construction Plastics Market is projected to grow at the highest CAGR, in terms of value, during the forecast period. The global Construction Plastics Market is expected to witness high growth during the forecast period. Rapid industrialization and increasing personal disposable incomes in the Asia Pacific region, coupled with the increasing demand for plastics from various end-use industries, such as construction are driving the growth of the Asia Pacific Construction Plastics Market. Moreover, China's large production capacity at low rates is making the region an attractive for the Construction Plastics Market. Various key industries, such as building & construction and others have shifted from the western regions to the countries of the Asia Pacific, especially China and India, due to the availability of cheap labor, supportive government policies, and availability of natural resources, which is driving the demand for plastics, which in turn, is promoting growth of the Construction Plastics Market in the region. This has created significant opportunities for the consumption of construction plastics in the Asia Pacific.
DowDuPont (US), BASF SE (Germany), Asahi Kasei Corporation (Japan), LyondellBasell Industries Holdings B.V. (Netherlands), Borealis AG (Austria), Solvay S.A. (Belgium), Saudi Basic Industries Corporation (SABIC) (Saudi Arabia), and Total S.A. (France) are the key players operating in the Construction Plastics Market.
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