The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Construction Plastics Global Market Report 2024, the construction plastics market is expected to show significant growth in the forecast period.

The construction plastics market has experienced robust growth, surging from $101.79 billion in 2023 to an anticipated $109.84 billion in 2024, demonstrating an impressive Compound Annual Growth Rate (CAGR) of 7.9%. This expansion in the historic period is attributed to the escalating need for building renovations, green building initiatives, regulatory compliance, and the significant impact of urbanization and population growth. The market is poised for strong growth, expecting to reach $153.04 billion in 2028, driven by factors like digital construction workflows, circular economy practices, safety standards, emerging market growth, and climate adaptation. Key trends in the forecast period include the utilization of lightweight and durable plastic materials, innovative solutions, and strategic collaborations.

Factors Driving Growth in the Historic Period

• Increased demand for building renovations and repairs
• Construction and infrastructure projects
• Growing need for green building and sustainability
• Increased regulatory compliance
• Urbanization and population growth

Factors Propelling Growth in the Forecast Period

• Digital construction workflows
• Circular economy practices
• Construction safety standards
• Emerging market growth
• Adaptation to changing climate conditions

Major Trends in the Forecast Period

• Utilization of lightweight and durable plastic materials
• Thermoplastic roofing
• Integration of smart plastic materials with sensors and data connectivity
• Soundproofing plastics
• Innovative solutions and strategic collaborations

View More On The Construction Plastics Market Report 2024 – https://www.thebusinessresearchcompany.com/report/construction-plastics-global-market-report

Constructing Success: Booming Building and Construction

The surge in building and construction and infrastructural standards globally stands out as a major growth driver for the construction plastics market. Emerging markets like China, Brazil, India, Saudi Arabia, and Indonesia have witnessed robust construction activities. The global construction market is projected to grow from $12.52 trillion in 2021 to $17.60 trillion in 2026, showcasing a commendable CAGR of 7.0%. Despite concerns over plastic use, the construction industry’s reliance on plastics remains uninterrupted due to their lightweight, ease of handling, and low maintenance properties. Prominent companies driving this growth include BASF SE, Dow Inc., LyondellBasell Industries Holdings B.V., and TotalEnergies SE.

Major Companies Driving Growth

• BASF SE
• Dow Inc.
• LyondellBasell Industries Holdings B.V.
• TotalEnergies SE

Sustainability Takes Center Stage: Rising Eco-Consciousness

The construction plastics market is witnessing a paradigm shift towards sustainability, with an increasing preference for recycled plastics. Growing global awareness of the environmental impact of plastics has led to a surge in demand for recycled and eco-friendly plastics. For instance, BASF launched the IrgaCycle range, providing additive solutions to increase recycled content in industries such as construction. This aligns with the rising eco-consciousness of the world population.

Notable Eco-Friendly Initiatives

• BASF’s IrgaCycle range for increased recycled content
• Project Ghar by Kimberly-Clark India using recycled plastic for sustainable housing

Driving Sustainability: Axpo Holding Partners with Borealis AG

In April 2023, Axpo Holding AG, a Swiss renewable energy producer, entered into a Power Purchase Agreement (PPA) to acquire Borealis AG within the next six months. This partnership aligns with Borealis’ commitment to enhancing the use of renewable energy and advancing sustainability goals. The PPA allows Borealis to source green energy from Axpo’s wind farm in Finland to power its Porvoo facility, exemplifying a collaborative effort towards sustainable practices.

Notable Sustainability Partnership

• Axpo Holding AG and Borealis AG Power Purchase Agreement

Market Segmentation: Navigating Diversity

The construction plastics market’s dynamic landscape is navigated through comprehensive segmentation. This includes types such as Polyethylene, Polypropylene, and Polyvinyl Chloride, applications spanning Insulation Materials, Pipes, Windows & Doors, and end-users categorized as Non-Residential and Residential.

Segmentation Breakdown

1. By Type:
   • Polyethylene
   • Polypropylene
   • Polyvinyl Chloride
2. By Application:
   • Insulation Materials
   • Pipes
   • Windows & Doors
3. By End-User:
   • Non-Residential
   • Residential

Regional Dynamics: Asia-Pacific at the Helm

Asia-Pacific emerges as the largest region in the construction plastics market in 2023. This regional dominance reflects the vibrant construction activities and infrastructural development taking place in countries like China and India. The robust growth in Asia-Pacific underlines the global significance of the construction plastics market.

Request A Sample Of The Global Construction Plastics Market Report 2024:

https://www.thebusinessresearchcompany.com/sample_request?id=5981&type=smp

The Construction Plastics Global Market Report 2024  provides an in-depth analysis on the construction plastics market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the construction plastics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Construction Adhesives Global Market Report 2024

Construction Elastomers Global Market Report 2024

Construction Film Global Market Report 2024

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