Dublin, Nov. 06, 2024 (GLOBE NEWSWIRE) -- The "Construction Plastic Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
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.
Construction Plastic Market Geographical Outlook
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.
Reasons for buying this report:
- Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, other sub- segments.
- Competitive Landscape: Understand the strategic maneuvers employed by key players globally to understand possible market penetration with the correct strategy.
- Market Drivers & Future Trends: Explore the dynamic factors and pivotal market trends and how they will shape up future market developments.
- Actionable Recommendations: Utilize the insights to exercise strategic decision to uncover new business streams and revenues in a dynamic environment.
- Caters to a Wide Audience: Beneficial and cost-effective for startups, research institutions, consultants, SMEs, and large enterprises.
Report Coverage:
- Historical data & forecasts from 2022 to 2029
- Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
- Competitive Positioning, Strategies, and Market Share Analysis
- Revenue Growth and Forecast Assessment of segments and regions including countries
- Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 139 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $118.91 billion |
| Forecasted Market Value (USD) by 2029 | $144.61 billion |
| Compound Annual Growth Rate | 3.9% |
| Regions Covered | Global |
Companies Featured
- 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
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
For more information about this report visit https://www.researchandmarkets.com/r/4154go
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