Construction Plastics Market (Covid-19 Impact Analysis) – Industry To Power Swiftly With A CAGR of 7.1% between 2020 and 2025
Zion Market Research has published a new report titled “Construction Plastics Market by Type (Expanded Polystyrene, Polyethylene, Polypropylene, Polyvinyl Chloride, and Others) and by Application (Pipes, Flooring, Windows & Doors, Insulation Materials, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global construction plastics market was valued at USD 74.1 billion in 2018 is expected to reach USD 119.7 billion in 2025, at a CAGR of 7.1% between 2019 and 2025.
Plastic is a reliable, safe, lightweight, and cheap material for the construction industry. Plastic is a suitable material for thermal insulation of buildings. Currently, plastics are widely used in various residential and non-residential constructions applications. The global construction plastics market is projected to grow rapidly in the years ahead, owing to the growing residential and non-residential construction globally and the rising demand for construction plastics in different applications, such as cladding panels, window and skylight, translucent walls and signage, roof domes and louvers, security glazing, and roofing. Additionally, the lightweight property of construction plastics has driven its demand in several construction applications. However, the fluctuating prices of raw materials may hamper the construction plastics market growth globally in the future. Alternatively, the surging demand for green building is expected to create several growth opportunities for the construction plastics market in the upcoming years.
The global construction plastics market is divided based on type and application. Based on type, the global construction plastics market includes polyethylene, expanded polystyrene, polypropylene, polyvinyl chloride, and others. The expanded polystyrene segment is expected to grow notably in the future, owing to its rising application in flooring and siding.
The polyvinyl chloride segment dominated the global construction plastics market and is anticipated to maintain its dominance throughout the forecast time period as well. Due to the versatile properties of polyvinyl chloride like insulation, thermal conductivity, durability, scratches resistance, and flexibility, it is widely used in manufacturing pipes. Based on application, the global construction plastics market includes pipes, flooring, windows and doors, insulation materials, and others. Pipes are projected to hold the largest market share in the future, followed by insulation materials. The rising construction activities globally and rapid urbanization are estimated to propel this segment’s growth in the years ahead.
By region, the Asia Pacific construction plastics market is expected to grow rapidly in the future, owing to the increasing construction activities in the developing countries, such as India and China, supportive government policies, economical labor cost, and the availability of natural resources. The North American construction plastics market is expected to grow significantly in the upcoming years, due to the rising residential construction activities in the U.S. and Canada and the rising demand for green building across the region.
Get Free Research Report Sample PDF for more Latest Industry Insights – https://www.zionmarketresearch.com/requestbrochure/construction-plastics-market
Some companies involved in the global construction plastics market are Formosa Plastic Group, Borealis AG, Asahi Kasei Corporation, Arkema SA, The Dow Chemical Company, PetroChina Co. Ltd., Lanxess, BASF SE, Chevron Phillips Chemical Company, E. I. du Pont de Nemours and Company, Reliance Industries Limited, SABIC, and Solvay SA.