Construction polymers find extensive applications in various sectors, including glazing sealants and waterproof membranes in windows and skylights. A new report, titled "Construction Polymers Market" and published by research and consulting firm Fact.MR, includes data related to the global construction polymers market through 2028.
These types of polymers for the building and construction segment offer several advantages, including widespread availability of raw materials, inherent properties and flexible processing methods, all of which contribute to their growing demand, approximately 20% of the global construction polymers market. The largest share is contributed by the housing construction segment, which represented approximately 30 million tons or about 40% of the market share in 2018. This segment is expected to represent a CAGR of ~5.5% over the forecast period from 2019 through 2027.
Product Analysis
Among the various types of polymers used in construction, polyvinyl chloride (PVC) holds the largest market share. In 2018, the global consumption of PVC was estimated to account for ~42 million tons. The construction industry accounts for a significant portion, approximately ~60%, of global PVC production, with applications ranging from windows to roofing materials. In the United States, ~80% of windows have been replaced by PVC, followed by 8% to 10% being aluminum and steel. Additionally, as per reporting from the Association of European Glass-Fiber Producers (APFE), building and construction applications represent ~30% of Europe's overall FRP market.
Region-wise Analysis
The Asia Pacific region dominates the global construction polymers market, with approximately 50% of polymers consumed by the construction sector being produced in this region, primarily in China and India. South East Asia and North America are expected to lead the export market for polyethylene and polypropylene, respectively, driven by the growing demand for green buildings.
Challenges and Future Prospects
Rapid infrastructural and construction activities is fueling growth in the construction polymers market, representing a CAGR of ~6.5% in terms of value from 2019 through 2027.
Reflecting a recent trend within the market, many major construction polymers companies are actively engaged in the development of bio-based construction polymers. The increasing focus on green buildings by governments worldwide is further augmenting the demand for eco-friendly construction materials, thereby bolstering the market for construction polymers. Some companies have started to incline towards polycarbonate building-integrated photovoltaic panels for cladding and glazing, and eco-friendly fireproof and high-strength polymer composites are also gaining momentum in the construction polymers market.
Despite the growing demand, construction polymers face challenges related to performance assessment, longevity, and environmental sustainability. However, initiatives by governments to promote environmentally sustainable construction materials and regulations aimed at reducing carbon emissions are creating favorable conditions for the growth of the construction polymers market.
