Construction Plastic Market Size, Share, Opportunities, And Trends By Type (Composites, Polyethylene, Polyvinyl Chloride (PVC), Others), By Application (Windows, Roofing, Sanitary Equipment, Insulation, Pipes & Ducts, Others), And By Geography - Forecasts From 2024 To 2029

The construction plastic market is expected to grow at a CAGR of 3.99% during the forecast period of 2024-2029, reaching US$144.612 billion in 2029 from US$118.905 billion in 2024.

Plastic is a synthetic material based on organic polymers. The construction industry uses plastic for several applications due to its versatility, strength-to-weight ratio, durability, corrosion resistance, ease of installation, energy-saving, and so on. Moreover, the low cost of plastic compared to other substitutes, the adoption of green building practices, and the use of recycled plastic in residential and non-residential buildings are expected to provide lucrative opportunities for global market growth.

However, the price impact of upstream raw materials such as crude oil and feedstock is anticipated to hamper the growth of the building and construction plastics market. Therefore, the key players develop new products, invest in research, make mergers and acquisitions, and form joint ventures to ensure steady growth.

CONSTRUCTION PLASTIC MARKET DRIVERS:

• Rise in Construction of Green Buildings

The rising environmental pollution has given rise to the construction of green buildings. Plastics are used in the construction of green buildings because of their features like recyclability, durability, and high strength. Thus, growing popularity and public awareness about green buildings are expected to increase the demand for plastics in construction.

According to the United States Census Bureau, the total construction spending during July 2023 was seasonally adjusted at an annual rate of $2,169.0 billion, which was 0.3% above the revised rate of June 2024 at $2,162.7. This shows that the construction industry has expanded and grown over the years. This leads to the construction plastic market’s growth, as plastics are very useful because of their characteristics – durability, corrosion resistance, easy to install, strength-to-weight ratio, and so on.

Construction Plastic Market Segment Analysis

• The Asia Pacific region will dominate the construction plastic market during the forecast period.

Geographically, the construction plastic market is segmented into North America, South America, Europe, Asia-Pacific, and the Middle East and Africa. Asia-Pacific holds a significant market share and is anticipated to grow rapidly due to the government's growing focus on its emerging economies to support domestic infrastructure.

The major economies are India, China, Japan, Korea, and Australia, which play a vital role in the region's rapid economic growth and industrialization. Furthermore, ASEAN countries like Thailand, Vietnam, Cambodia, Singapore, the Philippines, and Indonesia are experiencing fast economic growth in the region. This is taking increasing infrastructural development. The overall infrastructure and construction development is taking place rapidly owing to projects like China's Belt and Road initiative.

According to the World Bank, China's infrastructure investment was USD 34,285 million in 2022, indicating that rapid industrialization and urbanization in the country in the last few decades have enlarged the infrastructure and development market. Similarly, economic development in India is also leading to the making of more infrastructure projects. As per Infrastructure Outlook, India invested US$168 billion in the development of ports, US$13 billion in the development of the rails, and US$8.9 billion in the development of water-related infrastructure. These efforts would promote investment and stabilize economic growth and employment.

• The construction plastic market is segmented by end-user industry, type, and application.

By type, the construction plastic market is segmented as acrylic, composites, expanded polystyrene, ETFE, polycarbonate, polyethylene, polypropylene, polyvinyl chloride (PVC), and PTFE. Polyvinyl chloride (PVC) holds a significant market share because of its lightweight and ability to be molded and assembled in different shapes.

By end-user, the construction plastic industry is segmented as residential and non-residential. The non-residential segment holds a significant market share because plastic is cost-effective, has energy-saving recycling capability, and is easy to install. According to the United States Census Bureau, the residential segment’s construction was adjusted at the annual rate of $941.6 billion in July, whereas the spending on private construction was $1,678.7 billion.

By application, the construction plastic market is segmented as pipes & ducts, insulation, sanitary equipment, interior covering, windows and door panels, exterior covering, weatherboarding, and roofing. Pipes & ducts hold a significant market share because they are used both within and outside the building for water service, plumbing, heating & cooling, fire protection, snow melting, and geothermal piping systems.

Construction plastic market key developments:

• In September 2022, Bow Plumbing Group, a Montreal-based producer of plastic fittings and pipes for the North American residential and commercial construction market, was bought by Wavin, a global solutions provider for the infrastructure and building industry and an Orbia business. Wavin's investment in the Bow Plumbing Group expands and deepens its presence in this crucial industry, enabling it to provide customers and stakeholders with effective, all-encompassing water management solutions. The Wavin business will be propelled on its growth journey by this acquisition, which combines Bow's commercial reach and in-depth knowledge of the North American market with Wavin's global footprint and innovation capabilities. It will also lead the way for future sustainable residential and urban development.
• In September 2022, a roofing firm, GAF, is to invest $146 million and hire 135 workers over the following six years to construct a plant in Valdosta in South Georgia. The announcement was made by GAF, a part of privately held Standard Industries of New York. Production is expected to commence in early 2024 after construction begins in fall 2022. The business will produce thermoplastic polyolefin roofing, a plastic membrane primarily used to cover flat or low-slope commercial building roofs. According to GAF, the facility will speed up customer service. The business is producing the same product in New Columbia, Pennsylvania; Gainesville, Texas; Mount Vernon, Indiana; and Cedar City, Utah.

The construction plastic market is segmented and analyzed as follows:

• By Type
  • Composites
  • Polyethylene
  • Polyvinyl Chloride (PVC)
• By Application
  • Windows
  • Roofing
  • Sanitary Equipment
  • Insulation
  • Pipes & Ducts
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Rest of the Middle East and Africa
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Rest of Asia-Pacific

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key benefits for the stakeholders

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.2.1. Threats from Substitutes

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. The Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. CONSTRUCTION PLASTIC MARKET BY TYPE

5.1. Introduction

5.2. Composites

5.3. Polyethylene

5.4. Polyvinyl Chloride (PVC)

6. CONSTRUCTION PLASTIC MARKET BY APPLICATION

6.1. Introduction

6.2. Windows

6.3. Roofing

6.4. Sanitary Equipment

6.5. Insulation

6.6. Pipes & Ducts

6.7. Others

7. CONSTRUCTION PLASTIC MARKET BY GEOGRAPHY

7.1. Global Overview

7.2. North America

7.2.1. United States

7.2.2. Canada

7.2.3. Mexico

7.3. South America

7.3.1. Brazil

7.3.2. Argentina

7.3.3. Rest of South America

7.4. Europe

7.4.1. United Kingdom

7.4.2. Germany

7.4.3. France

7.4.4. Italy

7.4.5. Spain

7.4.6. Rest of Europe

7.5. Middle East and Africa

7.5.1. Saudi Arabia

7.5.2. United Arab Emirates

7.5.3. Rest of the Middle East and Africa

7.6. Asia-Pacific

7.6.1. China

7.6.2. India

7.6.3. Japan

7.6.4. South Korea

7.6.5. Taiwan

7.6.6. Thailand

7.6.7. Indonesia

7.6.8. Rest of Asia-Pacific

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. Dow

9.2. BASF SE

9.3. Asahi Kasei Advance Corporation

9.4. Borealis AG

9.5. Solvay S.A

9.6. Saudi Basic Industries Corporation (SABIC)

9.7. LyondellBasell Industries Holdings B.V

9.8. Berry Global Inc.

9.9. TotalEnergies

Dow

BASF SE

Asahi Kasei Advance Corporation

Borealis AG

Solvay S.A

Saudi Basic Industries Corporation (SABIC)

LyondellBasell Industries Holdings B.V

Berry Global Inc.

TotalEnergies