Building and Construction Plastics Market to Reach US$57.51 Billion at CAGR of 7.1% by 2019: Transparency Market Research

Albany, New York, Jan. 12, 2015 (GLOBE NEWSWIRE) -- U.S.-based market intelligence firm Transparency Market Research has released a new research report on the global building and construction plastics market. The report is titled 'Building and Construction Plastics Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 - 2019', and predicts that the rapid expansion of the construction industry all over the world will help the building and construction plastics industry grow at a CAGR of 7.1% during the report's forecast period. The building and construction plastics industry will reach a market value of US$57.51 billion in 2019, growing from its 2012 valuation of US$35.92 billion.

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The report categorizes the global building and constructions plastics market by three criteria: product segment, end-use application, and geographical distribution. Seven categories are formed according to the product type: polyvinyl chloride (PVC), polyurethanes (PU), acrylics, polystyrene (PS), thermoplastics elastomers, composite materials, and other building and construction material. Of these, the category of PVC holds a dominant 35% market share, with the category of composite materials trailing PVCs. Acrylics are expected to be the fastest growing category among all types of building and construction plastics, while the other three categories are expected to not experience any drastic change.

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Four categories are formed on the basis of the end-use application of building and construction plastics, namely pipes and ducts, door fittings, insulation, and others. Pipes and ducts held the major market share, at 30%, and are expected to stay well ahead of the other applications of building and construction plastics. This is due to the poor thermal and electrical conductivity of plastics, which makes them the perfect building material for pipes as well as insulation.

The regional market of North America is the global leader in the Building and Construction Plastics Market, with a 30% market share in 2012. The highly affluent and developed lifestyle common in the United States and Canada means that the continent has the highest demand for construction material due to the high amount of residential construction. The booming construction industries in China, India, and Southeast Asia are expected to boost the share of Asia Pacific in the global building and construction plastics market. The European building and construction plastics market, however, is expected to experience a fall due to restrictions on plastics on environmental grounds.

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An expected increase in regulations on environmentally unsafe building and construction plastics in most parts of the world is one of the major restraints of the global building and construction plastics market. However, one of the direct consequences of the growing environmental awareness is the rising demand for bio plastics, which is an excellent market opportunity in the building and construction plastics market.

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The global building and construction plastics market is dominated by multinational corporations such as PetroChina Ltd., BASF SE, , Borealis AG, DuPont, Solvay SA, etc.

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Source:Transparency Market Research