Global Building and Construction Plastic Market was valued US$ 58.01 Bn in 2017 and is expected to reach US$ 107.34 Bn by 2026, at a CAGR of 8.0% during a forecast period.
The global building and construction plastic market based on type, application, and region. In terms of type, the global building and construction plastic market is classified into thermoplastic and thermosetting plastic. Based on application, the global building and construction plastic market is categorized into flooring, window & door panel, siding, piping, roofing, insulation, and others. Region wise into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Building and construction plastic is a polymer that makes the infrastructure stronger, lighter, and sustainable. They are used for numerous purposes such as roofing, insulation, waterproofing, reinforcement, and others. Therefore, there is a rise in demand of the building and construction plastic due to increase in construction projects globally. Moreover, these plastics help enhance the beauty of the project at a low cost; hence, anticipated to propel the growth of the global building and construction plastic market. Upsurge in residential and non-residential activities and increase in plastic on account of its physical and low-cost properties drive the market growth. Furthermore, inability of some building and construction plastics to withstand cold conditions, softening at higher temperatures, and weakening & formation of fading appearances due to exposure to UV rays hinder the market growth. Threat from substitutes and rise in environmental concerns and stringent laws of regulatory bodies restrain the growth of the market.
Global Building and Construction Plastic Market
Based on type, the thermosetting plastic segment accounted for the highest revenue share in 2017 and is anticipated to grow at the highest growth rate during the forecast period. Moreover, the thermoset plastic segment would witness moderate growth during the forecast period.
In terms of application, piping segment dominated the market in terms of value in 2017 and is estimated to grow at a significant CAGR during the forecast period.
Asia-Pacific accounted for the highest share in the global building and construction plastic market and is estimated to grow at the second highest CAGR due to higher adoption of this material in Asian countries such as China and India. China is the largest producer of thermoplastics and polyurethanes plastic materials. Therefore, it accounts for the highest market share among the countries in Asia-Pacific.
Some of the key players in the global building and construction plastic market are DSM, BASF, Chem Philips, DowDuPont Inc., INEOS Group Holdings S.A., Lanxess, LG Chem Ltd., LyondellBasell Industries Holdings B.V., SABIC, and Solvay.
Scope of the Global Building and Construction Plastic Market
Global Building and Construction Plastic Market by Type
• Thermosetting Plastic
Global Building and Construction Plastic Market by Application
• Window & Door Panel
Global Building and Construction Plastic Market by Geography
• North America
• Middle East & Africa
• Latin America
Key Players operating in the Global Building and Construction Plastic Market
• Chem Philips
• DowDuPont Inc.
• INEOS Group Holdings S.A.
• LG Chem Ltd.
• LyondellBasell Industries Holdings B.V.
• Chevron Phillips Chemical Company, LLC
• Koninklijke DSM N.V