The global construction polymer market is projected to attain a valuation of USD 244.7 billion in 2023 and is estimated to reach USD 472.4 billion by 2033 while exhibiting a CAGR of 6.8% during the forecast period.
Future Market Insights presents a comparison and review analysis of the dynamics and trends of the construction polymers market. In terms of their applications in the building sector, structural polymers, and plastic composites are becoming crucial materials. The adoption of these polymers in the construction of walls and flooring with high strength is expected to remain a key growth driver for the market.
The range of applications for construction polymers is expanding as a result of developments in civil engineering and construction technologies. Some new trends observed in the market include the investment of a fair share of the revenue in research & development. These trends are likely to boost the construction polymer demand.
According to FMI analysis, the variation between the BPS values observed in the construction polymers market in H1, 2022 - Outlook over H1, 2022 Projected reflects a decline of 10 units. However, compared to H1, 2021, the market is expected to again witness a decline of 30 BPS in H1 -2022.
Key reasons for this change in growth rate are attributed to the slow uptake of the market during the first half of the forecast period, owing to the strict environmental mandate implemented by the government to curb emissions and shifting preferences toward green materials and sustainable products. Further rise in the pricing of raw materials and lockdown in China have impacted the growth outlook further.
Some likely prospects lead the industry, which include the increasing investment by the government in private sectors & utility infrastructure sectors, which is expected to provide a growth outlook to the market despite the challenges. Additionally, a significant rise in building construction followed by urbanization is expected to influence market growth.
| Report Attributes | Details |
|---|---|
| Expected Market Value (2023) | USD 244.7 billion |
| Anticipated Forecast Value (2033) | USD 472.4 billion |
| Projected Growth Rate (2023 to 2033) | CAGR 6.8% |
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The market of construction polymer was worth USD 187 billion in 2018 and it reached a valuation of USD 229 billion in 2022 while securing a CAGR of 5.2% during the historical period.
The introduction of new materials in the construction polymers market is leading to the development of substantial potential. Also, a wide assortment of materials is used in flooring, windows, cladding, pipes, membranes, seals, and insulation. Advances are being made in the types of polymers including epoxy resins, polystyrene, polycarbonate, polyethylene, and polypropylene.
Construction companies are the key end-users benefiting from the advances in properties such as flexibility, adhesion to substrates, durability, and water resistance. Overall, the demand for construction polymer is anticipated to rise at a CAGR of around 6.8% through 2033.
Extensive Applications across the Construction Domain to Spur Expansion
Structural polymers and plastic composites have emerged as key materials in terms of their use in the construction industry.
The design, technical, and structural advantages of these construction polymers have driven their application in building walls and flooring with maximum strength. Moreover, advancements in civil engineering and construction technologies have propelled the application purview of construction polymers.
Cost-effective production, feasible profit margins, and relatively easy procurement of raw materials are driving large chemical companies toward construction polymer businesses. The overall competitive landscape in the global construction polymer market remains densely populated by industry leaders from the chemicals and materials sector.
A majority of construction polymer manufacturers in the global market are based in countries such as China, India, and South Korea. The study projects that through 2033, the Asia Pacific Excluding Japan (APEJ) region is expected to represent the significant market for construction polymers.
Industry leaders from the chemicals & materials sectors are actively partaking in the expansion of the global construction polymer market. These companies are likely to be committed to testing new products & technologies and creating advanced polymerized materials for the changing dynamics of the building & construction sector.
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Manufacturers are Likely to Favor Asia Pacific’s Market in Forthcoming Years
Asia Pacific market, which includes East Asia and South Asia & Pacific, is expected to be worth over USD 64 billion by 2033. The study has profiled the leading manufacturers of construction polymers, which include HB Fuller, Momentive Performance Materials Inc., Huntsman Corporation, Evonik Industries AG, Solvay, Arkema, DuPont, SCG Chemicals, Croda, Henkel, Sika AG, 3M Company, PolyOne, BASF, and Formosa Plastics.
A majority of the key players in the global construction polymer market are expected to be based in the Asia Pacific countries such as China, India, and South Korea. Additionally, feasible industrial regulations and the booming construction industry are expected to factor in the dominance of the Asia Pacific region in terms of global construction polymer production through 2033.
Burgeoning Construction Industry to Encourage Construction Polymer Adoption
As per FMI analysis, in the coming years, North America is projected to turn out dominant for the overall construction polymer market, accounting for 16.1% of revenue in 2023.
According to Associated General Contractors of America, construction is a leading contributor to the United States economy. The industry has more than 733,000 employers with over 7 billion employees and creates nearly USD 1.4 trillion worth of structures each year.
The growth is also a result of the local players largely dominating the construction polymer market and they are competing among each other. Further, increasing investments by key market players and research institutes for innovations in the market space are key growth drivers.
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Wall Construction Insulation and Sliding to be Primary Application Areas
Based on applications, the study has forecasted that construction polymers might be widely used in building high-tech walls. Also, the compatibility of construction polymers with advanced engineering techniques has driven their use in the construction of walls. By 2033, nearly USD 50 billion worth of construction polymers might be used in wall applications across the globe.
Insulation and sliding applications, on the other hand, are expected to register significant revenue growth at a CAGR of 7.8% during the forecast period.
Polymers for New Construction Activity to Maintain its Lead.
With respect to the type of construction activity, construction polymers are less likely to be used for renovation as they are required to be integrated with the core construction materials for high performance. By 2033, more than 3/5th of revenues procured in the global construction polymers market is expected to be accounted by new construction activities.
Commercial and Housing Real Estate Construction to Top the Charts
The commercial real estate sector and housing (residential) real estate sector is expected to remain prominent for manufacturers of construction polymers with high-profit margins. Collectively, the end-use of construction polymer in these two sectors is estimated to account for more than 65% of the global market revenues throughout the forecast period.
The report further projects that facility infrastructure sector and utility infrastructure sector are expected to register leading end-use of construction polymer in the global market. Moreover, increasing investments of governments, as well as private sector players in the facility and utility infrastructure sectors, are expected to factor in this surging revenue growth throughout the forecast period.
High Flexibility and Enhanced Resistance to Heighten PVC Construction Polymer Uptake
According to FMI, polyvinylchloride polymers are expected to represent a high revenue share in the global construction polymer market. In 2022, nearly USD 28 billion worth of PVC polymers were sold across the global construction polymer market. The demand for polyvinylchloride polymers is predicted to expand at a CAGR of 7% during the forecast period.
The study reveals that the flexibility of PVC polymers, coupled with their competent advantages concerning flame resistance, frictional co-efficiency, safety, and design versatility, is anticipated to continue to drive their demand in the forthcoming years of the global construction polymer market.
The global construction polymer market is on the rise owing to the manufacturers who are investing in the research & development of new valves as per changing industry standards across multiple industry verticals.
The key industry players operating in the market are H.B. Fuller Company, Momentive Performance Materials Inc., Evonik Industries AG, Solvay SA, Arkema S.A., E.I Dupont De Nemours and Company, SCG Chemicals Co., Ltd., Croda International Plc, Henkel AG & Co. KGaA, Sika AG, 3M Company, PolyOne Corporation, BASF SE, Formosa Plastics Corp.
Recent Developments in the Construction Polymer Market
The Vita Group has trailed the recycled polyols from Evonik's hydrolysis process in several of its flexible foam applications. Evonik’s solution might contribute to the global flexible PU industry’s sustainability expectations of reducing waste and increasing the use of renewable raw materials in the production of its products.
| Report Attributes | Details |
|---|---|
| Market Value in 2023 | USD 244.7 billion |
| Market Value in 2033 | USD 472.4 billion |
| Growth Rate | CAGR of 6.8% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
By polymer type, By application, By end-user, By construction activity, By region |
| Regions Covered |
North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East and Africa |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Russia, Poland, Czech, Republic, Romania, China, Japan, South Korea, India, Bangladesh, Australia, New Zealand, GCC countries, South Africa, Israel |
| Key Companies Profiled | H.B Fuller Company; Momentive Performance Materials Inc.; Evonik Industries AG; Solvay SA; Arkema S.A.; E.I Dupont De Nemours and Company; SCG Chemicals Co., Ltd.; Croda International Plc; Henkel AG & Co. KGaA; Sika AG; 3M Company; Polyone Corporation; BASF SE; Formosa Plastics Corp |
| Customization | Available Upon Request |
The growing pharmaceuticals sector is driving the United States market.
Wall construction polymer type holds high revenue potential.
The United States, China, and India are estimated to dominate the global market.
The market is forecast to register a CAGR of 6.8% through 2032.
The market registered a CAGR of 5.2% from 2018 to 2022.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Polymer Type 5.1. Epoxy Resins 5.2. Polystyrene 5.3. Polycarbonate 5.4. Polyethylene 5.5. Polyisobutylene 5.6. Polymethylmethacrylate 5.7. Polypropylene 5.8. Polyurethane 5.9. Polyvinylchloride 5.10. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Walls 6.2. Floorings 6.3. Piping 6.4. Windows 6.5. Roofs 6.6. Insulation and Sliding 6.7. Glazing 6.8. Cladding 6.9. Plastic Wraps 6.10. Other Applications 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-User 7.1. Commercial Real Estate Construction 7.2. Housing Real Estate Construction 7.3. Industrial Construction 7.4. Facility Infrastructure 7.5. Transportation Infrastructure 7.6. Utility Infrastructure 7.7. Other Infrastructure 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Construction Activity 8.1. New Construction 8.2. Renovation 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. South Asia and Pacific 9.6. East Asia 9.7. Middle East and Africa 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. H.B Fuller Company 19.2. Momentive Performance Materials Inc. 19.3. Evonik Industries AG 19.4. Solvay SA 19.5. Arkema S.A. 19.6. E.I Dupont De Nemours and Company 19.7. SCG Chemicals Co., Ltd. 19.8. Croda International Plc 19.9. Henkel AG & Co. KGaA 19.10. Sika AG 19.11. 3M Company 19.12. Polyone Corporation 19.13. BASF SE 19.14. Formosa Plastics Corp 20. Assumptions & Acronyms Used 21. Research Methodology
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Construction Polymer Market
