Plastic Component Market, Type of Plastic (Polypropylene (PP), Polyethylene (PE), Polyvinyl Chloride (PVC), Polystyrene (PS), Acrylonitrile Butadiene Styrene (ABS), and Engineering Plastics, By Application (Automotive, Consumer Goods, Electronics, Packaging, Healthcare, and Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Aug 2024

Code : CMI7279

Pages :134

Formats :

Excel and PDF

Industry : Advanced Materials

Market Concentration and Competitive Landscape

Plastic Component Market Concentration By Players

Close-monitor your Competitor's Move, Request sample copy

Rise in construction industry

The construction sector has been on an upward trajectory in recent times mainly due to rapid urbanization and infrastructure development activities across both developed and developing economies. Mega projects in areas like transportation, utilities, commercial buildings, and residential complexes have kept the industry humming with activity. These construction booms naturally translate to higher volumes of plastic consumption since various building materials and piping systems increasingly utilize plastic raw materials.

One of the major drivers of plastic usage in the construction sector has been the replacement of traditional materials like wood, concrete, and metals by innovative plastic variants. Composites made from polymer resin reinforced with fibers offer compelling advantages over conventional construction elements. Plastic pipes, windows, doors, and roofing sheets are lighter, more durable, flexible, and require lower maintenance. They can withstand corrosion and last longer through harsh environmental conditions without deterioration. Additionally, plastic molding enables architects to give unique aesthetic shapes and designs to structures that were not possible before.

Sustainability practices have also stimulated plastic adoption in the built environment sphere. Recovering and recycling plastic construction waste is relatively easier than other materials. Moreover, plastic polymers made from bio-based inputs are helping brandish the eco-friendly credentials of the industry. This momentum towards green building solutions ensures rising importance of plastics in the construction vertical looking ahead. Expansion in infrastructure to cope with rapid urbanization especially in developing regions will keep fueling the demand for plastic construction components.

Key Players Insights