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The global construction polymers market size was valued at USD 142.80 billion in 2023. The market is projected to grow from USD 149.74 billion in 2024 to USD 229.21 billion by 2032 at a CAGR of 5.5% during the forecast period.
Modern construction depends on durable polymers such as plastics and elastomers. These materials endure challenging environments and contribute to eco-friendly practices, enhancing energy efficiency and reducing costs. The market is expected to grow over the coming years due to the rising infrastructural activities and urbanization.
Fortune Business Insights™ provides this information in its research report, titled “Construction Polymers Market, 2024-2032”.
List of Key Players Mentioned in the Report:
B. Fuller Company (U.S.)
Solvay S.A. (Belgium)
BASF SE (Germany)
Evonik Industries AG (Germany)
Reliance Industries Limited (India)
SABIC (Saudi Arabia)
Exxon Mobil Corporation (U.S.)
Eni S.p.A (Italy)
TotalEnergies (France)
Avient Corporation (U.S.)
Get A Free Sample Research Report PDF: https://www.fortunebusinessinsights.com/enquiry/sample/construction-polymers-market-110702
Segmentation:
Polyvinyl Chloride (PVC) Segment Led due to Urbanization and Infrastructure Development
In terms of type, the market for construction polymers is classified into Polyethylene (PE), Polypropylene (PP), Polyurethane (PU), Polystyrene (PS), Polyvinyl Chloride (PVC), and others. The Polyvinyl Chloride (PVC) segment captured the key market share in 2023. Increasing urbanization and infrastructure projects drive higher demand for PVC due to its durability and versatility.
Pipes & Fittings Segment Led owing to Various Properties
As per application, the market is fragmented into profiles, pipes & fittings, insulation and sliding, flooring, roofing, wire & cable, and others. The pipes & fitting segment held the key construction polymers market share in 2023. In construction, polymers such as HDPE, PP, PVC, and ABS are preferred for pipes and fittings as they are corrosion-resistant, lightweight, and durable. They are used in diverse applications, including plumbing, water supply, and HVAC systems.
In terms of region, the market for construction polymers is categorized into Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The research report offers:
Detailed examination of market trends and notable industry developments.
Comprehensive coverage of factors contributing to recent market growth.
Identification of emerging opportunities and challenges within the market.
Evaluation of key market players, their strategies, and market positioning.
Analysis of technological advancements shaping the market landscape.
Drivers and Restraints:
Rising Demand for Aesthetic and Versatile Materials to Boost Market Growth
Polymers' durable, lightweight, and flexible properties, along with their ability to be customized for specific applications, make them essential in a variety of construction uses, from insulation to structural components. Moreover, the adaptability of polymers allows architects to explore new design possibilities, supporting the industry’s shift toward more efficient, sustainable, and aesthetically advanced structures.
However, compliance with evolving regulations could lead to higher production costs, impacting the construction polymers market growth.
Regional Insights:
Asia Pacific Leads the Global Market with Rising Polymers Consumption
In 2023, Asia Pacific held the dominant position in the global construction polymers market. Increased polymer consumption in India, driven by industrialization and higher disposable incomes, supports regional expansion.
North America is set for significant annual growth, led by the U.S. Rising demand for flooring and roofing applications will drive increased consumption of construction plastics.
Information Soure: https://www.fortunebusinessinsights.com/construction-polymers-market-110702
Competitive Landscape:
Key Players Emphasis on Advanced Technologies to Boost Their Market Share
The competitive landscape reveals a consolidated market with global players investing significantly in advanced technologies to improve product performance. Major strategies involve innovating with new technologies and engaging in acquisitions and expansions to increase market share.
Key Industry Development:
April 2020: Security Matters, Ltd. and BASF SE finalized an agreement to develop solutions for plastics traceability and circularity, focusing on improving plastic waste recovery and reuse.
List of Key Players Mentioned in the Report:
B. Fuller Company (U.S.)
Solvay S.A. (Belgium)
BASF SE (Germany)
Evonik Industries AG (Germany)
Reliance Industries Limited (India)
SABIC (Saudi Arabia)
Exxon Mobil Corporation (U.S.)
Eni S.p.A (Italy)
TotalEnergies (France)
Avient Corporation (U.S.)
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