Last edited 19 Feb 2021

Construction plastics market

The global building and construction plastics market is expecter to reach around USD 486.2 billion by 2026, growing with 7.4% CAGR.

Increasing population and developing urbanisation across the globe have been driving the building and construction plastics market along with government initiatives to advance building structures. Rising need for cable ties, plastic rivets, and grommets due to their light weight and corrosion resistance is anticipated to drive further growth.

The market is extremely fragmented with many small and medium producers. The market players are anticipated to compete based on geographical development, quality, price, design and product.

North America and Europe saw high product penetration due to high spending on interiors and wooden structures in these regions. The rapid development of private, business, and modern structures in the Asia Pacific and Central and South America is expected to drive development in these regions over the forecast period.

Volatility in raw material costs and the strong foothold of established companies in the market are expected to be the key parameters restricting the entry of new companies. Though, a high scope for product growth in terms of strength and design is anticipated to open new opportunities, raising the threat of new competitors.

The global building & construction plastics market is segmented into product, application and region.

Asia Pacific was the main market in 2017. It is likely to see an increase in infrastructure spending over the long term by virtue of quick urbanisation and developing population. The administration undertaking and infrastructure market in the region will increase by roughly 7% to 8% consistently throughout the following decade and reach over USD 5,300.0 billion towards the finish of the forecast period.

North America is one of the key markets for building and development plastics. Rising need for redesign of old structures is expected to drive development in the coming years. Industry bodies such as the Plastics Industry Association and National Association of Plastic Industries (ANIPAC) are promoting activities to help the development and improvement of plastics and its end applications.

The key players in the global building and construction plastics market are Borealis AG, BASF SE, DuPont, Trinseo, Solvay SA.BASF SE, and The Dow Chemical Company. These players are associated with the generation of plastics for various applications in the infrastructure sector. Organizations associated with the assembling of product for the infrastructure sector are highly combined across the value chain.

Costs of raw materials, for example, ethylene, propylene, and styrene are exceptionally sensitive to crude oil costs, which are unpredictable in nature. Plastic assembly utilises 4.0% crude oil, and so unpredictable costs are expected to frustrate the development of the market over the forecast period.

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