The global construction polymer market is expected to grow at a robust pace by registering a CAGR of 6.8% over the projection period from 2022 to 2026. The global market is predicted to garner a valuation of around US$ 229,076 Mn in 2022 and reach a net worth of US$ 298,384 Mn by the end of 2026. The range of applications for construction polymers is widely spreading as a result of developments in civil engineering and construction technologies. Some latest trends observed in the market comprise a fair share of the revenue in research and development. Such trends are likely to bolster the construction of polymer demand.
According to FMI analysis, the variation between the BPS values observed in the construction polymers market in H1, 2022 - Outlook over H1, 2022 Projected reflects a decline of 10 units. However, compared to H1, 2021, the market is expected to again witness a decline of 30 BPS in H1 -2022. As per future Market Insight's historical estimations, the global market registered a 5.3% CAGR between 2012 and 2021. The emergence of new materials within the constriction polymers market is leading to the development of substantial potential.
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Key Takeaways
Structural polymers and plastic composites have been introduced as crucial materials in terms of their use in the construction industry. The design, technical and structural advantages of these constriction polymers have driven their application in building walls and flooring with maximum strength. Technological advancements within civil engineering and construction technologies are anticipated to propel the application purview of construction polymers.
Cost-effective production, feasible profit margins, and comparatively easy procurement of raw materials are inclining large chemical companies towards construction polymer businesses. The overall competitive landscape in the global construction polymer market remains densely populated by industry leaders from the chemicals and materials sector.
A major population of construction polymer manufacturers in the global market is based in countries such as China, India, and South Korea. As per the recent study projects through 2028, the Asia-Pacific excluding Japan (APEJ) region will represent the largest market for construction polymers. By the end of the forecast period, the APEJ construction polymer market will account for nearly half of the forecast global market value.
Prominent industry leaders from the chemicals & materials sectors are actively participating in the expansion of the global construction polymer market. These prominent companies are committed to testing new and advanced products along with creating advanced polymerized materials for the changing dynamics of the building & construction sector.
Prominent reasons for the change in growth rate accounted for the slow uptake of the market throughout the first half of the forecast period, owed to the strict environmental mandate implemented by the government in order to effectively curb the emission and shifting preferences in the favor of green materials and sustainable products. Further rise in the pricing of raw materials and lockdown in China have impacted the growth outlook.
Despite such challenges, some prospects lead the industry, which incorporates the increasing investment by the government in private sectors and utility infrastructure sectors, which is expected to provide a growth outlook to the market. A significant rise in building construction followed by urbanization is expected to influence market growth.
The utilization of a wide range assortment of materials takes place in flooring, windows, cladding, pipes, membranes, seals, and insulation. Drastic advances are being made in the types of polymers including epoxy resins, polystyrene, polycarbonate, polyethylene, and polypropylene.
In addition, construction companies are known as the key users benefiting from the advances in properties such as flexibility, adhesion to substrates, durability, and water resistance. Overall, the demand for construction polymer is anticipated to rise at a CAGR of around 6.8% through 2026.
Competitive Landscape
The global construction polymer market is on a rise owing to the manufacturers who are investing in the research & development of new valves as per changing industry standards across multiple industry verticals.
Some key players are:
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
Polyone Corporation
BASF SE
Formosa Plastics Corp
Key Segments Covered in Construction Polymer Industry 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
Europe
East Asia
South Asia & Pacific
Middle East & Africa (MEA)
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