The global construction polymer market is expected to value USD 244.7 billion in 2023 and is anticipated to reach USD 472.4 billion by 2033 while capturing a CAGR of 6.8% from 2023 to 2033.
The continuous expansion of the construction sector is anticipated to create demand for innovative and eco-friendly construction materials, thereby fueling the growth of the construction polymer market. Modern infrastructure demands superior, durable, and suitable construction materials.
As an engineering material, construction polymers have gained significant importance. They serve as essential building blocks in the construction of engines, vehicles, household articles, and buildings. Additionally, the global demand for construction polymers is positively influenced by factors such as abundant raw material availability, inherent properties, and versatile processing methods.
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.
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.
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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Key Companies Profiled
- 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
- Sika AG
- 3M Company
- Polyone Corporation
- BASF SE
- Formosa Plastics Corp
Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global construction polymer market, providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.
The market is segmented based on polymer type, application, end-user, construction activity, and region to understand opportunities in the construction polymer market.
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
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