Energy efficiency, light weight, poor thermal and electrical conductivity, and high molecular weight are the reasons for the high utilization of plastics in construction undertakings, says a recent market study published by Transparency Market Research (TMR). TMR’s report, titled “Building and Construction Plastics Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 - 2019,” provides an in-depth analysis of the proceedings of the global building and construction plastics market for the 2013-2019 period. The report says that the said market will rise at a 7.1% CAGR from 2013 to 2019. The market’s valuation will increase from US$35.9 bn in 2012 to US$57.5 bn by 2019.
Construction plastics comprise various types of plastics used in construction undertakings. These plastics have several attributes that are beneficial in construction undertakings, such as high durability and temperature and pressure resistance. Plastics are also inert to most environmental reagents, ensuring steady maintenance of the surface for a long time.
In BRIC nations, the flourishing construction industry is one of the major factors driving the global building and construction plastics market. In emerging economies, rapid urbanization and infrastructural development have been the foremost reasons for the increased demand for plastics for construction undertakings. However, environmental concerns that are associated with the use of traditional plastics are detrimental to growth of the overall market. Nevertheless, the development of biobased and biodegradable products will offset the drawbacks that are associated with plastics.
Product type, application, and geography are the three criteria based on which the global building and construction plastics market is divided in this report. By product, acrylics, thermoplastic elastomers (TPE), polyurethanes, polystyrene, polyvinyl chloride, and composite materials are the segments of this market. Of all, polyvinyl chloride plastics held the largest share of 35% in the global market in 2012. Composite materials held the second largest market share in the overall market in the same year.
Acrylics will exhibit robust growth during the forecast period due to their increasing utilization in adhesives and coatings, surface coatings, and other applications. TPE plastics will also display significant growth during the forecast period, says the report.
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On the basis of application, door fittings, roofing, cladding, pipes and ducts, waterproofing, and insulation are the segments of this market. In 2012, pipes and ducts dominated the market and held a share of more than 30% in the global market in 2012. The large share of the application segment can be attributed to several reasons. First and foremost, the thermal conductivity and insulation properties of plastics facilitate energy conservation, which is resulting in increased utilization of the material. This has come as an advantage for new construction undertakings, especially in areas that are scarce on energy resources.
North America registered the highest demand for building and construction plastics in 2012. The region held a share of more than 30% in the global market in the same year. The increasing demand for plastics for pipes and ducts, cladding, insulation, and other applications is the reason for the large market share of North America. With increasing development of residential and commercial complexes, the region will retain a significant position in this market.
Top companies that operate in the global building and construction plastics market are BASF SE, Borealis AG, Solvay SA, PetroChina Ltd., DuPont, The Dow Chemical Company, and Arkema SA.
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