The global construction polymer induatry is expected to value US$ 244.7 billion in 2023 and is anticipated to reach US$ 472.4 billion by 2033 while capturing a CAGR of 6.8% from 2023 to 2033.
The construction sector’s ongoing expansion is expected to increase demand for innovative and eco-friendly building materials, fueling the growth of the construction polymer market. Superior, long-lasting, and appropriate construction materials are required for modern infrastructure.
Construction polymers have grown in relevance as an engineering material. They are necessary building blocks in the production of motors, automobiles, household items, and buildings. Furthermore, variables such as plentiful raw material availability, intrinsic characteristics, and versatile processing processes impact global demand for building polymers.
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Construction polymers find extensive applications in various areas, including road construction, roofing, foundations, and paneling. Additionally, they are utilized in glazing sealants, bridge bearings, waterproof membranes, flooring, and more. Also, the remarkable benefits of construction polymers are difficult to overlook, making a significant impact across numerous sectors.
Both developed and emerging countries are heavily investing in infrastructure development, city connectivity, and establishing new regulatory frameworks to foster better growth. As a result, these countries are expected to offer numerous opportunities, contributing to the flourishing of the construction polymers market in these regions.
The rising importance of construction polymers as a crucial raw material in constructing green buildings has led governments to take initiatives toward promoting green building projects. This proactive approach is expected to drive significant growth in the construction polymers market worldwide.
In recent years, green structures have gained increasing preference over traditional ones. The building industry utilizes polymers to enhance energy efficiency. Further, the growing demand for green buildings is driven by factors such as:
- Reduced operating costs,
- Improved air quality
- Renewable energy adoption,
- Efficient energy, and water utilization
- Light loads on metal structures compared to conventional buildings
Social factors like fostering a sense of community, promoting occupant health and well-being, and encouraging sustainable business practices further contribute to the growth of green buildings.
Plastics play a key role in numerous green building applications, such as pipes, windows, floors, roofs, insulation, and fire sprinklers. With the growing demand for green buildings, the market for construction polymers is projected to experience substantial growth in the forecast period.
Plastics possess several qualities that make them highly sought-after for green buildings, including excellent corrosion resistance, easy installation, lightweight, and durability, ease of transport and handling, and high-temperature resistance.
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Key Takeaways
- The market in North America is expected to account for over 16.1% market share in 2023.
- Based on polymer type, the demand for polyvinyl chloride polymers is expected to rise with a CAGR of 7% during the forecast period.
- By end-use, commercial real estate, and housing real estate combined are expected to account for over 65% market share by 2033.
“The continuous expansion of the construction sector and rising initiatives to promote green building projects is expected to bode well for market growth,”- comments an FMI Analyst”
Competitive Landscape
The construction polymer market is highly competitive, with key industry players making substantial investments to enhance their manufacturing capabilities.
Innovations in the Construction Polymer Market
- In May 2021, Arkema finalized a deal to acquire Agiplast, a prominent plastic compounding company.
- In April 2021, Arkema announced its intention to start manufacturing its leading high-performance polymers, Rilsan polyamide 11 and Amino 11, at a new plant on Jurong Island, Singapore, in the first half of the following year.
- B. Fuller made an announcement in June 2021 regarding the signing of a distribution agreement with Jubilant Agri and Consumer Products Limited (JACPL), which is a wholly-owned subsidiary of Jubilant Industries Limited.
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Top Key Player in the Global Market
- H.B Fuller Company
- Momentive Performance Materials Inc.
- Evonik Industries AG
- Solvay SA
- Arkema S.A.
- E.I Dupont De Nemours and Company
- SCG Chemicals Co., Ltd.
- Croda International Plc
- Henkel AG & Co. KGaA
Key Segmentation
Construction Polymer Market by Polymer Type:
- Epoxy Resins Construction Polymer
- Polystyrene Construction Polymer
- Polycarbonate Construction Polymer
- Polyethylene Construction Polymer
- Polyisobutylene Construction Polymer
Construction Polymer Market by End-User:
- Construction Polymer for Commercial Real Estate Construction
- Construction Polymer for Housing Real Estate Construction
- Construction Polymer for Industrial Construction
- Construction Polymer for Facility Infrastructure
- Construction Polymer for Transportation Infrastructure
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
About the Chemicals & Materials Division at Future Market Insights
The chemical & materials team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide.
With a repertoire of over 100+ reports and 1 billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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