The demand within the global construction plastics market is rising on account of sophistication in infrastructural standards. Despite large-scale condemnation of plastic-usage, the need for plastics in the constructions industry remains undiminished. Furthermore, unavailability of substitutes for high-quality plastics has also generated humongous revenues within the global market. The use of construction plastics is not just restricted to pipes and furniture. On the contrary, these plastics are a part of the entire cycle of construction at a particular site. Henceforth, the total volume of revenues in the global construction plastics market is expected to multiply in the coming years.
- From the point of shielding valued construction materials to using plastic mats in finished houses, the demand for construction plastics cannot be undervalued. Moreover, drainage systems in households are largely made of plastic tubes and lines. The indispensable need for a proper drainage system has, therefore, given a thrust to market growth.
- Plastics are also used in interior designing and planning. Plastic slabs and sheets often replace other materials due to the low cost of the former. Furthermore, construction plastics also come in handy while measuring the dimensions of an area. Henceforth, the construction plastics market is expected to attract favourable demand in the coming times.
Temporary staircases and dismantlable sections are made up of construction plastics. The growing trend of making raw and convertible sections in houses has given a thrust to the growth of the global construction plastics market. The use of construction plastics in Canada has been on a rise. The country has made extensive efforts to incorporate the most optimal means of constructions. Hence, the North America construction plastics market is estimated to accumulate formidable revenues in the coming years.
Global Construction Plastics Market: Introduction
Plastics are widely used in the construction industry due to their versatility, strength-to-weight ratio, durability, and corrosion resistance. Plastics are also employed in construction due to their lightness of weight. They are also easier to transport and handle. Construction plastics are resistant to rot and corrosion and have strong weatherability. Plastic can also be flexible, and are easily extruded, bent, molded, and 3D printed. Construction plastics are commonly used in pipes, cables, coverings, panels, films, and sheets.
Global Construction Plastics Market: Trends & Developments
Increase in demand for PVC in the building & construction industry and rise in demand for expanded polystyrene (EPS) plastics are the major factors expected to drive the global construction plastics market. Sluggish economy of ChinaChina is largest producer of the plastics and prohibition of PVC products in green buildings are anticipated to hamper the global construction plastics market during the forecast period. Increase in investments in emerging economies and high demand for construction plastics in Asia Pacific are estimated to offer lucrative opportunities to the construction plastics market.
Global Construction Plastics Market: Segmentation
In terms of type, the global construction plastics market can be segmented into expanded polystyrene, polyethylene, polypropylene, and polyvinyl chloride. The polyvinyl chloride segment dominated the global obstruction market in 2018. Polyvinyl chloride is extensively used in pipes. Polyvinyl chloride offers thermal conductivity, insulation, scratch resistance, durability, design freedom, and flexibility. Polyvinyl chloride is also cheaper than other types of construction plastics. It can be removed and recycled with ease. Polystyrene is a low conductor of heat and helps in retaining heat in infrastructure. It is lightweight, and easy to install and handle. In terms of application, the global construction plastics market can be divided into insulation materials, windows & doors, and pipes. The pipes segment held major share of the construction plastics market in 2018. Pipes are made of lightweight materials and plastics. Construction plastics are also employed extensively in windows and doors.
Global Construction Plastics Market: Regional Outlook
Based on region, the global construction plastics market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific was a leading region of the global market in 2018, led by rapid industrialization and increase in personal disposable income of consumers in the region. Increase in demand for plastics in various end-use industries, such as construction, is also expected to boost the construction plastics market in the region. China is the largest producer of plastics. It manufactures plastics at low rates. Thus, Asia Pacific is an attractive region of the global construction plastics market. Shifting of the building & construction industry to Asia Pacific due to cheap labor, supportive government policies, and availability of natural resources is estimated to boost the construction plastics market in the region during the forecast period. In terms of demand, Asia Pacific is followed by North America. Rise in demand for renovation of old buildings in North America is likely to fuel the construction plastics market in the region.
Global Construction Plastics Market: Key Players
Key players operating in the global construction plastics market include DowDuPont, Asahi Kasei Corporation, LyondellBasell Industries Holdings B.V., Borealis AG, Solvay, SABIC, and Total.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
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7. Which government regulations might challenge the status of key regional markets?
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