The demand for building and construction plastics is increasing with the sizable investments in residential and commercial infrastructure. Key players are adopting various strategies such as product launches and acquisitions to stimulate market growth. Construction plastics are used for various purposes such as flooring, cladding and roof membranes, cables, flooring and wallcovering, insulation, piping, and window and door panels in the building and construction industry. Different types of plastic composites are used in floorings, including wood plastic composite (WPC), luxury vinyl tiles (LVT), and stone plastic composite (SPC).
Contraction plastics belong to the family of synthetic materials derived from petrochemicals and often have two or more components. Numerous families of plastics are used in the construction industry due to their favorable properties such as lightweight, strength, and others.
Geographically, the construction plastic market has been segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).
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In Asia Pacific, the increasing number of government infrastructure projects are projected to drive market growth. Emerging economies such as India and China are expected to register sound market growth, backed by strong economic growth and removal of barriers pertaining to foreign investments. The demand for new apartments is growing in tandem with the region’s population, outlined by progressive urbanization in developed countries.
In North America, the demand for energy-efficient buildings is increasing, specifically in developed countries. The region is focusing on the energy efficient renovation of existing building structures, and the new construction of buildings accounts for a comparatively slow dynamic. Rules and regulations for the use of green plastics in building and construction are also expected to boost the growth of the global constructional plastic market.
In Europe, the demand for construction plastics is expected to be low due to rules and regulations regarding the use of PVC, PU, and other plastics. Rising demand from the construction sector in Germany and the U.K. is expected to predominantly lead market growth in the region. In the LAMEA region, emerging countries such as Brazil and others are hubs for urbanization, with prominent construction sectors.
The construction plastic market has been segmented on the basis of product and application.
By product, the global market has been segmented into polyvinyl chloride, polystyrene, acrylics, polyurethanes, thermoplastics elastomers, composite material. Polyvinyl chloride (PVC) is available in two forms – rigid and flexible, of which rigid PVC is used in construction products such as pipes and ducts while flexible PVC is used for packaging plastics. PVC is strong but lightweight, which facilitates its application in constructional products. Polystyrene blocks are also used in building materials; they are used as permanent insulation in buildings during construction. These blocks are energy efficient and ensure optimal insulation for not only walls but also roofs and floors. Acrylics sheets, which are lightweight and offer high impact resistance and superior optical clarity, are used for a wide range of applications. Polyurethanes building materials add design flexibility to new homes and remolding projects. In order to increase strength in construction, traditional rubber is replaced by thermoplastic elastomers.
Based on application, the market has been segmented into pipes & ducts, insulation, door fittings. Building and construction plastics are commonly used in the infrastructure industry for major applications such as pipes & ducts, insulators, door fittings, and others. Other significant applications of building and construction plastics include cladding, floor and wall insulation, waterproofing, concrete reinforcement, and windows & door profiles.
Construction Plastic Market: Segmentation
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