Plastics exhibit incredible properties such as being lightweight, cost-effective, chemical resistance, weather resistance, and durability, They are widely used in residential and non-residential constructions applications. The market is projected to grow at an exponential rate in the coming years. Reason being, the massive growth of commercial and residential construction globally. In addition, the rising demand for construction plastics in applications such as roofing, roof domes, glazing, windows, skylight, and translucent walls will further drive the market.
The major reason behind the demand for construction plastics is its lightweight property. However, market growth may be hampered due to the fluctuating prices of raw materials. According to the report, the global construction plastics market is anticipated to reach $119.7 billion in 2025, at a CAGR of 7.1%.
Let us not look at the types and applications of plastic in the global construction plastics market.
The types of plastics used in the global construction market are polyethylene, polystyrene, polypropylene, and polyvinyl chloride. The polystyrene segment will witness a boost in the future due to the rising applications in siding and flooring. The polyvinyl chloride (PVC) segment has dominated the global construction plastics market and will continue to maintain its dominance in the upcoming years. Due to the versatile properties of PVC such as insulation, durability, flexibility and thermal conductivity, it is widely used in the manufacture of pipes.
The applications of plastics in the global construction market are flooring, windows, doors, insulation, pipes, railings. Rapid urbanization and rising construction activities globally is anticipated to propel the growth for the years ahead.
Asia-Pacific is anticipated to grow rapidly owing to the increase in construction activities in countries like China and India. Economical labor costs, availability of natural resources and supportive government policies will further boost the market. North American market will witness significant growth in the upcoming years due to increasing construction activities in the US and Canada.
The Latin American market is anticipated to grow exponentially in the upcoming years due to rapid industrialization. Brazil is predicted to be the biggest contributing nation to the region’s market. The Middle Eastern and African region is predicted to grow moderately in the future, owing to the rising demand for plastics in industrial constructions and the increasing applications in commercial constructions.