“Construction Plastics Market” worth $31.0 billion by 2023 Browse 120 market data Tables 44 Figures 159 Pages and in-depth TOC on “Construction Plastics Market ”
The major players in the Construction Plastics Market are, • • • • •
DowDuPont (US) BASF SE (Germany) Asahi Kasei Corporation (Japan) LyondellBasell Industries Holdings B.V. (Netherlands) Borealis AG (Austria)
• • • •
Solvay S.A. (Belgium) Saudi Basic Industries Corporation (SABIC) (Saudi Arabia) Berry Plastics Corporation (US) Total S.A. (France)
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The global construction plastics market is estimated to be USD 75.6 billion in 2018 and is projected to reach USD 105.7 billion by 2023, at a CAGR of 6.9%. The growth in consumption of lightweight materials, such as plastics is driving the demand for construction plastics. The low cost of plastics compared with other substitute materials is also a driving factor for the growth of the construction plastics market. Based on plastics, the construction plastics market has been segmented into expanded polystyrene, polyethylene, polypropylene, polyvinyl chloride, and others (acrylic sheets, polycarbonate sheets, and reinforced plastics). Polyvinyl chloride is projected to be the largest segment of the market during the forecast period. Polyvinyl chloride is largely used in the pipes application, which has properties, such as thermal conductivity, insulation, scratch resistance, durability, design freedom, and flexibility, which is driving the PVC market. Moreover, cost of other materials is higher as compared with PVC.
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The construction plastics market has been studied for Asia Pacific, Europe, North America, Middle East & Africa, and South America. The Asia Pacific construction plastics market is projected to grow at the highest CAGR, in terms of value, during the forecast period. The global construction plastics market is projected to witness significant growth during the forecast period. Rapid industrialization and increasing personal disposable incomes in the Asia Pacific region, coupled with the increasing demand for plastics from various end-use industries, such as construction are driving the growth of the Asia Pacific construction plastics market. Moreover, China’s large production capacity at low rates is making the region attractive for the construction plastics market. Various key industries, such as building & construction and others have shifted from the western regions to the countries of the Asia Pacific, especially China and India, due to the availability of cheap labor, supportive government policies, and availability of natural resources, which is driving the demand for plastics, which in turn, is promoting the growth of the construction plastics market in the region. This has created significant opportunities for the consumption of construction plastics in the Asia Pacific.
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Recent Developments in Construction Plastics Market • In June 2018, BASF increased its global production capacity for Neopor at its Ludwigshafen, Germany, and Ulsan, Korea production sites. The expansion is a result of increasing demand for gray insulation material, globally. • In October 2017, BASF launched the new product, Ultradur for the building & construction industry. The new product, which is composed of PVC, is expected to be used to replace steel in the windows application. • In May 2017, LyondellBasell opened a new Hyperzone Polyethylene (PE) plant at its La Porte, Texas, complex for the manufacture of pipes. The plant has the capacity to produce 500,000 metric tons of High Density Polyethylene (HDPE) annually.
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