The global market for plastics is expected to grow significantly on account of its usage in building and construction application. The unique properties possessed by plastics such as active however lightweight, easy transportation, durable, scratch resistant, non-corrosive, removable & recyclable and the price stability it provides, makes plastics the most suitable substance for usage in the construction & building industry.
The conventional plastics used in the construction segment consist of acrylic, composites, expanded polystyrene, polycarbonate, polyethylene, polypropylene and polyvinyl chloride. Products made from plastics are extensively applied in the construction and building activities; consist of pipes, cables, floorings, domes, roofing, windows & doors, storage tanks, hardware accessories, temporary structures and insulation materials. The use of plastics in the building and construction sector accounts for the second largest application segment of plastics. The primary factor of employing plastics in construction and building is the cheap production rate it possesses and the healthy lifespan of the material and the resulting structure created using plastics as a material. The concept of the passive house which includes a house that is built to achieve total insulation from the surrounding climate and provides a pleasant environment inside the house. The concept of full insulation would work only if plastics are used for construction to make it viable and to continue the ease of maintenance throughout the stay. With emerging up gradations in the building and construction industry, the demand for plastic is expected to increase as a result of which the global plastic industry is projected to rise in near future.
The global industry for construction and building plastics can be segmented by the product as polystyrene, acrylic, polyvinyl chloride, thermoplastic elastomers, composite materials and polyurethanes. Out of the products, polyvinyl chloride is expected to grow shortly on account of its properties of being light in weight, resistance to abrasion and durability. The plastics market can be segmented by application as packaging, building & construction, automotive, electronics and other applications. The largest portion of plastic in the application is packaging followed by building & construction. The building & construction sector is growing rapidly and is also expected to increase significantly shortly on account of the increasing infrastructure growth and the growth in the demand for high-performance materials in the growing economies. The global market for construction and building plastics can also be segmented by products as pipes & ducts, insulation, door fittings and other products like roofing, waterproofing, cladding, etc. Pipes & Ducts are expected to dominate the market shortly.
The market for plastics is expected to grow in the North America region on account of the increasing construction activities in that region owing to the growing number of houses being built in that area. The U.S. is anticipated to fuel the North American plastics market for building & construction due to the rapid industrial growth in that region and also on account of the emergence of a vast number of players in that area. Asia Pacific is expected to be the fastest-growing region during the forecast period on account of the rapid growth of the overall housing and construction sector in that region owing to high population levels coupled with the rising disposable income in that area. The European Union is expected to witness a slow growth on account of the economic recession in that region. The result of this recession has led to decreasing construction activities and resulted in an industry downfall. However, countries such as Germany have figured out ways to recycle their waste materials and thus reuse their building materials waste products abiding by the strict laws in the country and all other pollution norms. The market for building & construction plastics in Germany is thus expected to drive growth that is expected from the European region in the forecast period.
Some key players include BASF SE, Arkema SA, DuPont, Borealis AG, Solvay SA, PetroChina Ltd. and The Dow Chemical Company. These companies provide a platform for the market and enable an aggressive type of structure to the building & construction plastics industry.
Access news release of research report on global plastics market: https://www.grandviewresearch.com/press-release/global-plastics-market-analysis
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