Insulation as an application to exhibit a highest CAGR in the global construction plastic market during the forecast period.

Market SegmentationThe construction plastics market value was at USD 80.91 billion in the year 2020 and it is expected to surpass the market value of over USD 125.56 billion by the year 2027 while registering a CAGR of 7.95% during the forecast period

The global construction plastics market has been segmented by type, application, and region.

Based on type, the market has been segmented into polyvinyl chloride (PVC), polyethylene, polypropylene, polyurethane, polycarbonate, polystyrene, and others. The polystyrene is further sub-segmented into expanded and extruded polystyrene. PVC accounted for the largest market share in 2018 and is expected to maintain its dominance throughout the forecast period. Proliferating demand for PVC in residential and commercial construction for an array of applications like, flooring, piping, and roofing. The properties of PVC such as flexibility, lightweight, and easy maneuvering has led to an augmented demand for PVC in an array of construction applications such as cladding, roofline, and rainwater provisions adding substantial value to the global construction plastics market.

Based on application, the market has been segmented into flooring, window, piping, ducts, insulation, roofing, walls, and others. Pipelines accounted for the largest market share in 2017 and is expected to maintain its dominance throughout the forecast period. Plastic components are widely used in construction for interior and exterior applications such as piping, pipe fittings, water services, and others, which is expected to drive the demand. The pipeline segment is followed by insulation and ducts which is expected to grow at significant CAGRs during the forecast period with the increasing awareness regarding energy efficient building and construction.

Regional Analysis

Based on region, the global construction plastics market has been segregated into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The market in Asia-Pacific was the largest in 2017 due to the increasing investments in the infrastructural activities in the Southeast Asian economies along with the rise in population and urbanization can be attributed to the growth of construction plastics market in Asia-Pacific.

North America is the second-largest market for construction plastics owing to the increasing commercial construction activities in the region. In addition, the increasing prevalence of green building in the US and Canada is expected to offer lucrative opportunities for construction plastics during the forecast period. The European market for construction plastics is expected to grow at a moderate pace during the forecast period with a slow-moving construction sector in the Western European countries. The market in Latin America and the Middle East & Africa are expected to exhibit considerable growth during the review period with the increasing construction activities and industrialization.

Competitive Analysis

Some of the key players in the global Construction Plastics are BASF SE (Germany), DowDuPont (US), PetroChina Ltd (China), Borealis AG (Austria), Solvay SA (Belgium), Arkema (France), SABIC (Saudi Arabia), B & F Plastics, Inc., (US), Cork Plastics (US), and Trinseo (US)

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