The global construction polymer industry is poised for significant growth, with a projected value of US$ 244.7 billion in 2023, and it is expected to reach an impressive US$ 472.4 billion by 2033, demonstrating a robust compound annual growth rate (CAGR) of 6.8% over the course of the decade from 2023 to 2033. This expansion underscores the growing importance of construction polymers in the industry, driven by factors such as infrastructure development, sustainability initiatives, and the demand for innovative building materials.
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.
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.
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.
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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.
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 Players in the Construction Polymer 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
- Sika AG
- 3M Company
Key Segments Profiled in the Construction Polymer Market Survey
By Polymer Type:
- Epoxy Resins Construction Polymer
- Polystyrene Construction Polymer
- Polycarbonate Construction Polymer
- Polyethylene Construction Polymer
- Polyisobutylene Construction Polymer
- Polymethylmethacrylate Construction Polymer
- Polypropylene Construction Polymer
- Polyurethane Construction Polymer
- Polyvinylchloride Construction Polymer
- Other Construction Polymers
By Application:
- Walls
- Floorings
- Piping
- Windows
- Roofs
- Insulation and Sliding
- Glazing
- Cladding
- Plastic Wraps
- Other Applications
By End-User:
- Commercial Real Estate Construction
- Housing Real Estate Construction
- Industrial Construction
- Facility Infrastructure
- Transportation Infrastructure
- Utility Infrastructure
- Other Infrastructure
By Construction Activity:
- New Construction
- Renovation
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
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