Construction Plastics Market Regional Analysis:
North America Market Insights
North America industry is estimated to hold largest revenue share of 33% by 2035. 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 construction plastics sector is predicted to register steady revenue growth between 2024 and 2035 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 Insights
The 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 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 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.
