Albany, NY -- (SBWIRE) -- 07/09/2014 -- According to a new report published by Transparency Market Research " Building & Construction Plastics Market (PVC, PS, Acrylics, PU, TPE, Composite Materials and Others) For Pipes & Ducts, Insulation, Door Fittings and Other Applications : Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 - 2019 ", the global demand for the building & construction plastics was valued at USD 35.92 billion in 2012 and is expected to reach USD 57.51 billion in 2019, growing at a CAGR of 7.1% between 2013 and 2019.
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Growing building & construction industry coupled with huge demand for plastics from the same has been driving the building & construction plastics market. The development of building & construction industry in India, China and Brazil is expected to be one of the vital factors driving the demand for building & construction plastics over the next few years. In addition, the urbanization and changing lifestyles of the society in these countries is anticipated to spur growth for building & construction plastics. Moreover, rising demand for plastic based door fittings accessories in building & construction industry is expected to fuel the growth within the forecast period. However, increasing prices of upstream raw material and environmental regulations related with the usage of plastic materials are expected to restrain the growth of the market in the coming years. Although, increasing application scope of building & construction plastics in green building market coupled with growing demand for bio-based plastics is expected to open opportunities for the growth of the market over the next few years.
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PVC components were the most widely consumed building & construction plastics and accounted for around 35% of the global demand in 2012. The demand for PVC was more due to its characteristics such as durability, abrasion resistance and light weight. However, acrylics are expected to show the fastest growth over the next few years owing to their rising demand from surface coatings, sealants and adhesives market.
Pipes & ducts were the largest application segment for building & construction plastics in 2012. The building & construction plastics are being increasingly used in cladding, roofing, water proofing, reinforcement, flooring and insulation. Insulation was the second largest application for building & construction plastics and is expected to show similar growth in the coming years However, the demand for building & construction plastics is expected to be growing from the door fittings applications market over the forecast period. Growing demand for building & construction plastics in door fittings is due to these plastics being scratch resistance, durable and flexible.
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North America dominated the building & construction plastics market in 2012 followed by Europe owing to the growth of building and construction industry especially with renovation of structures and designs. Asia Pacific is expected to witness the highest growth within the forecast period on account of increasing usage of door fittings and pipes & ducts. The demand for building & construction plastics in Asia Pacific is expected to grow at a CAGR of 7.5% between 2013 and 2019.
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