Adroit Market Research announced that they expect the construction plastics market to reach $140.7 billion by 2028 at a compound annual growth rate (CAGR) of 6.67%. Polyvinyl chloride, polystyrene, polyethylene, polyurethanes, and other materials comprise the construction plastics market. Builders use these materials for various purposes, including roofing, walls and coverings, pipes and ducts, and windows.
Adroit Market Research cites increased plastic applications in construction components and boosted the use of recycled materials as market growth driving forces.
This increase comes despite protests from some activist groups who call for an end to plastic use. But at a time when materials shortages handicap construction, more companies turn to plastic alternatives as business survival lifelines.
Plastic offers excellent strength-to-weight ratios, ease of use, and cost-effectiveness. Builders use plastic products in both large commercial structures and small residential projects alike. A massive need for materials in residential construction drives the current boom.
Rapid industrialization and growing personal wealth in the Asia Pacific region also drive demand for plastic. China’s large production capacity and cheap labor consume enormous quantities of plastic. India, to a lesser extent, follows the same trend.
The national construction plastics boom opens opportunities for American companies to benefit from the research of this burgeoning technology.