Market Challenges And Opportunities

Drivers:

Growth in the building & construction industry is one the prime factor driving the market growth of the building and construction plastic. Increasing urban population coupled with the changing lifestyle of the consumer especially across developing region such as China and India is augmenting demand for infrastructure which is again fueling the market growth of building & construction plastic over the forecast period.

High consumption and production of plastic due to rising demand from various end-user industries is expected to drive the market growth. Advancement in the technology for production of polymer is also expected to augment the market growth of the building & construction plastic. Moreover, growing awareness regarding the advantage of the polymers such as durability, corrosion resistance, and high strength is further propelling its demand.

Market Restraints

Strict environmental rules and regulation associated with the plastic as they possess a various threat to both aquatic and terrestrial environment is hindering the market growth. Accumulation of plastic has resulted in various environmental problems such as water pollution and land erosion.

Availability of the substitute such as metal, fiberglass, and wood is acting as a threat to the market growth of the construction plastic. This factor is expected to hinder the market growth of building & construction plastic.

Market Opportunities

Increasing development of bioplastic for building and construction applications is expected to provide lucrative market opportunities. For instance, in May 2017, Eastman Chemical Company, the producer of cellulosic materials, introduced Eastman TR?VA™, a engineering bioplastics that help global brands concurrently meet their sustainability and performance needs in today’s rapidly evolving marketplace.

The growing popularity of plastic pipes and tubing systems that are basically used in building and on the outer premises of building is projected to offer potential growth opportunities. Plastic pipes are widely used in snow melting, water service, plumbing, fire protection, hydronic heating & cooling, and geothermal piping systems. Emerging such application of plastic in the building and construction industry is projected to propel the market growth over the forecast period.

Figure 2. Global Building and Construction Plastics Market– Opportunity Analysis