Plastics Will Lead The Construction Industry In The Next Five Years
In the next five years, plastic will become the leading material for the development of the global construction industry, in which PVC will continue to play a leading role, and pipe, insulation materials will be booming business opportunities with the largest market share.
The global construction market is growing rapidly and building pipes and insulation materials are hot.
According to the report of Zion Market Research on the global construction plastics Market, the global Market value of construction plastics was $74.1 billion in 2018 and is expected to reach $119.7 billion in 2025. The compound annual growth rate between 2019 and 2025 is 7.1%, exceeding the compound annual growth rate of 6.5% of the global construction industry Market.
The growth of the global building plastics market is mainly driven by:
There is a growing demand for architectural plastics for a variety of applications, such as panels, Windows, skylights, translucent walls, signage, domes, shutters, and anti-theft glazing.
The lightweight properties of building plastics directly drive the demand of plastics in building applications.
The surge in demand for green buildings is expected to create a number of growth opportunities for the building plastics market in the coming years.
In terms of materials, PVC with its comprehensive superior performance and cost advantages, will continue to maintain the leading position in the industry.
In terms of applications, it is expected that the construction pipeline segment will occupy the largest market share in the future, followed by insulation materials.An increase in global construction projects and rapid urbanization are expected to drive growth in the sector in the coming years.
In regional markets, the construction plastics market in the Asia-pacific region is expected to grow rapidly in the future as construction projects continue to increase in developing countries such as India and China.
In addition, the north American construction plastics market is expected to grow significantly in the coming years due to increased residential construction activity in the United States and Canada and growing demand for green buildings across the region.
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