Expansion of Construction Sector Fuels Demand for Building and Construction Plastics
The rising green and energy-efficient buildings demand is resulting in the expansion of the construction business, ascribed to the benefits such as enhanced quality of the indoor environment, and lower overall load on mental structures compare to the traditional settings. Consequently, the building and construction plastics market value will reach $230,273.4 million by 2030, as polymers have become an important material in this sector.
The regional players operating in the industry have strong distribution networks with regulatory knowledge that help them to sustain in the stringent competition with other key companies of the region. The companies operating in the industry compete on the basis of product quality, as they come up with new techniques of plastic production.
The sales price of the finished products depends upon the raw materials required to make plastics. Thus, it is projected that raw materials prices, such as vinyl chloride monomer, ethylene, and styrene have a significant impact on the industry for building and constructing plastics in the coming years.
Numerous entities in the global industry compete by employing methods such as mergers, acquisitions, geographical expansions strategic partnerships, and the development of advanced products to improve their position in the industry.
Rapid industrialization and the presence of a huge labor force results in the expansion of the manufacturing sector in developing countries. In addition, the rise in the economy and corresponding increase in consumer spending in these countries boost the demand for consumer goods and buildings. It thus propels the plastics demand in various applications such as convenience goods, housewares, and the construction of structures.
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PVC is one of the primary thermoplastics, massively used in building and construction applications. It includes roofing, ducting, windows, and doors. It is widely used in pipes and fittings, owing to its properties such as strength thermal conductivity, design flexibility, scratch resistance, durability, insulation, and cost-effectiveness.
Benefits of Plastic as Construction Material
• Chemical Resistance
These plastics possess high resistance against solvents and chemicals. The chemical composition of plastics in manufacturing influences the chemical resistance degree. Numerous plastics also possess high corrosion resistance. Thus, they serve as a great substitute for corrosive metals, more specifically in water-carrying pipes.
• Dimensional Stability
Thermoplastic plastics can easily be modified enabling reshaping and reusing. The thermosetting plastics type plastics can-not be molded.
The major players operating in the industry are; Borealis AG, DuPont de Nemours Inc., Arkema Group, Berry Global Inc., Saudi Basic Industries Corporation, Asahi Kasei Corporation, The Solvay Group, and Borealis AG.
Therefore, the expansion of the construction sector propels the demand for building and construction plastics.