PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1635078
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1635078
The global building and construction plastics market is projected to grow from an estimated $109.3 billion in 2024 to $175.5 billion by 2030, reflecting a compound annual growth rate (CAGR) of 8.2% during the forecast period. This growth is driven by the expansion of the construction industry worldwide, particularly in countries such as the U.S., the U.K., Indonesia, China, India, the U.A.E., and Saudi Arabia. Increased industrialization and population growth have led governments to boost spending on infrastructure development, thereby escalating the demand for construction plastics. Additionally, the rising demand for green and energy-efficient buildings, due to their advantages like improved indoor environmental quality and reduced load on metal structures, is further propelling market growth.
Key Insights
Polyvinyl chloride (PVC) is the largest segment in the market, owing to its qualities such as heat conductivity, scratch resistance, insulation, design freedom, durability, and flexibility, making it widely employed in construction applications. Other significant materials include polystyrene, polyurethane, polyethylene, acrylics, and polypropylene, each offering unique properties suitable for various construction needs.
The pipes and ducts category holds the largest share in the application segment, driven by the extensive use of plastics in plumbing and HVAC systems due to their durability, corrosion resistance, and ease of installation. Roofing applications are also significant, with plastics being favored for their high strength, weather resistance, and lightweight properties, which facilitate easy installation and transportation.
Asia-Pacific accounted for the largest revenue share and is expected to maintain its market dominance throughout the forecast period. The growing construction industry in the region, along with the availability of inexpensive labor and raw materials, has attracted significant investments from large international firms, further boosting the demand for construction plastics.
The market is highly competitive, with numerous international companies and local producers. Key players are focusing on capacity expansions, mergers and acquisitions, and significant research and development efforts to meet the soaring demand in emerging markets and to innovate in product offerings.
Innovations in plastic manufacturing technologies are enhancing the performance and expanding the range of applications for construction plastics. Developments in areas such as polymer composites and sustainable materials are expected to open new opportunities for market growth.