Building and Construction Plastics Market size was valued at USD 117.5 billion in 2023 and is set to reach USD 230.3 billion by the end of 2036, expanding at around 7.1% CAGR during the forecast period i.e., between 2024-2036. In 2024, the industry size of building and construction plastics is estimated at USD 125.8 billion.
Increasing number of construction activities across industrial, commercial and residential settings is one of the primary factors boosting global building and construction plastics market growth. With the rapid urbanization and rising global population, there has been a substantial increase in the construction activities worldwide. Different types of plastics are widely used in the construction sector due to its lightweight, ability to form tight seals and thermal and electrical insulating properties. According to a recent survey published in Built Environment Journal, the building and construction sector consumes 20% of all plastics and 70% polyvinyl chloride (PVC) that is produced globally every year.
Plastics are used in a variety of building component applications, including seals, roofing, floor coverings, windows, doors, internal and external finishes, varnishes, stains, pipes, along with supportive structures and building insulations. Polyvinyl chloride, polycarbonate, high impact strength, weather and UV resistance, high light transmission and easy fabrication. However, this results in rising environmental concerns, including plastics pollution in ocean, landfills and ecosystems. To cater to these issues, many eco-conscious manufacturers and companies are focusing on recycling plastics. In 2020, Ocean Voyages Institute (OVI) partnered with ByFusion to clean up the plastics waste accumulated in the Pacific Ocean and collected more than 1oo tons of plastics to make large-scale building material called By Block.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
7.1% |
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Base Year Market Size (2023) |
USD 117.5 billion |
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Forecast Year Market Size (2036) |
USD 230.3 billion |
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Regional Scope |
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Product (Polyvinyl Chloride, Polystyrene, Polyethylene, Polyurethanes)
In terms of product, the polyvinyl chloride segment in the building and construction plastics market accounted for 42.2% of revenue share in 2023. PVC is widely used in building and construction applications due to its low weight and ability to be molded and assembled into various shapes. It is mostly utilized to fabricate flexible and rigid products such as pipes, irrigation, electrical conduits, water distribution tubes and fittings, sewers, door frames and windows, gutters and downspouts, fencing and decking, roofing, and conveyor belts for food and chemical processing, as well as wall and floor covering.
In December 2023, INEOS announced the expansion of its PVC product range with the launch of NEOVYN to reduce overall carbon neutrality and circularity. The new product can be used across several sectors including, building and construction and is expected to significantly reduce carbon footprint which is 37% lower than the European industry average suspension PVC.
Application (Roofing, Insulation, Pipes & Ducts, Wall Covering, Windows)
Pipes & ducts segment in the building and construction plastics market is estimated to register more than 4.5% growth from 2024 to 2036. Plastics pipes and tubing systems are used both inside and outside the building for a variety of purposes, such as water service, plumbing, geothermal piping systems, fire protection, hydronic heating and cooling, and snow melting. Polyethylene, polystyrene, polyvinyl chloride, and polypropylene are widely used in the pipe systems due to its superior performance and high chemical and water resistance.
Many leading companies are introducing high performance products to cater to the rising demand. In September 2020, PVC4Pipes, the value chain platform for the European PVC pipe industry launched an online training packaging for suppliers in the PVC pipe chain to provide comprehensive information about PVC materials for relevant applications from sewage, waste to drinking water.
Our in-depth analysis of the global market includes the following segments:
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Product |
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Application |
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End user |
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North America Market Analysis
North America dominated the building and construction plastics market in 2023 and is expected to account for largest revenue share of 33.2% throughout the forecast period. This growth can be significantly driven by rapid urbanization, increasing investments in the construction of residential, industrial as well as commercial settings, and presence of robust manufacturers.
The U.S. market is expected to account for significant revenue share during the forecast period owing to increasing construction activities all over the country and rapid technological advancements. The use of plastics in building and construction activities in the U.S. has been rapidly expanding across several applications such as piping and conducts, flooring, wall coverings, windows, and insulation. In addition, the U.S have building codes that favor materials that are long-lasting with good insulation properties. Thereby, boosting demand for different types of plastics in construction sector.
In Canada, the market for building and construction plastics sector is predicted to register steady revenue growth between 2024 and 2036 owing to ongoing commercial, industrial and residential infrastructural projects, rapid adoption of technologies in plastics components, high focus on developing sustainable and recycled plastics solutions for construction projects. Plaex Building Solutions is one of Canada well-known firm that offers crack and moisture resistant and cost-effective products for the construction sector made from recycled plastics and industrial waste.
Asia Pacific Market Statistics
The building and construction plastics market in Asia Pacific is expected to expand at a rapid pace during the forecast period. This growth can be attributed to significant increase in construction activities in China, India, Japan, and South Korea, along with government initiatives and investments in infrastructure and housing.
In India, the building and construction plastics market is likely to expand at a rapid revenue CAGR during the forecast period owing to increasing construction activities to cater to rising population, and government projects including, Smart Cities Mission. Moreover, many key players are investing in infrastructural projects. For instance, Kimberly-Clark India partnered with Plastics for Change India Foundation to launch ‘Project Ghar’. The project aimed to build houses with recycled single-use plastics.
China is one of the largest markets for building and construction plastics in APAC owing large population base, ongoing residential and commercial building projects, and presence of leading players. Local government and manufacturers in China are focused on developing bioplastics and recycled plastics to cater to the rising environmental concerns.
The global building and construction plastics market is extremely competitive with multiple multinational corporations and local manufacturers who are focused on developing new products and technologies to cater to the growing demand for sustainable materials and solutions in the construction sector, stringent regulatory frameworks, and changing consumer preferences. These key players are adopting several strategies such as mergers and acquisitions, partnerships, product launches, and joint ventures to enhance their product base and retain their market position. Here is a list of key players operating in the global market.
Author Credits: Shweta Patidar
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