The global construction elastomers market size was USD 5.1 billion in 2021 and is projected to reach USD 6.7 billion by 2026, at a CAGR of 5.8% between 2021 and 2026. Elastomers are natural or synthetic polymers having elastic properties. These materials are made of polymers, which are joined by chemical bonds, acquiring a final slightly crosslinked structure. Elastomers that are used for construction applications are known as construction elastomers. Construction elastomers provide advantages of both plastics and rubber, and hence the new form created by their combination is adaptable in many applications. The high impact and tear strength of construction elastomers have increased their demand in the building & construction industries. Thermoplastic type of construction elastomers are recyclable, environment-friendly, and safe to use in the indoor residential applications.
Residential: the fastest-growing application of construction elastomers market.
Residential is the largest application in the construction elastomers market.Construction elastomers are used in insulations, roofing sheets & window profiles gaskets, door handle seal, and adhesives in residential construction applications.
This segment account for about 50% market share in terms of value in 2020.The sector was impacted a slow growth due to global economic slowdown.
However, the segment is expected to recover in the forecast period. Moreover, focus towards sustainable and earthquake proof constructions will provide new opportunities for construction elastomers manufacturer.
APAC is estimated to be the fastest-growing market for construction elastomers.
APAC accounted for the largest share in terms of volume and value of the construction elastomers market in 2020, followed by North America and Europe.The use of construction elastomers is expected to witness the highest growth in the APAC region during the forecast period.
The market in this region is driven by the recovery of the construction sector in China, India, and Southeast Asian countries.Global elastomers manufacturers are investing in APAC countries in establish their production plants to enhance their market presence in the region.
Indian & China are the significant markets for construction and the largest consumers of construction elastomers in the world. The focus towards the development of earthquake proof construction to reduce natural damage will further enhance the demand of construction elastomers during the forecast period.
Construction elastomers market slow down its growth in 2020. The construction elastomers market in 2020 experienced slow growth in terms of volume, compared to 2019 due to the COVID-19 pandemic.The construction industry is a significant consumer of construction elastomers.
The effect of COVID-19 on the construction industry led to declining sales and the layoff of employees.The projects was halted due to disruption in the supply chain.
With the declining production, the demand for construction elastomers also decreased. Extensive primary interviews were conducted to determine and verify the market size for several segments and sub segments and information gathered through secondary research.
The break-up of primary interviews is given below: • By Company Type - Tier 1 – 25%, Tier 2 – 42%, and Tier 3 – 33% • By Designation – C level – 20%, Director level – 30%, and Others* – 50% • By Region – North America– 40%, Europe – 10%, APAC – 20%, South America– 10%, and Middle East & Africa- 20% Notes: Others include sales, marketing, and product managers.
Tier 1: >USD 1 Billion; Tier 2: USD 500 million–1 Billion; and Tier 3: The companies profiled in this market research report include are Arkema S.A (France), BASF SE (Germany), The Dow Chemical Company (The US), Covestro AG (Germany), Huntsman Corporation (The US), Teknor Apex Company (The US), Lubrizol Corporation (The US), Tosh Corporation (Japan), Kraton Corporation (The US), China Petroleum and Chemical Corporation (China), Mitsubishi Chemical Company (Japan), DuPont (The US), SIBUR (Russia), Evonik Industries AG (Germany), Dynasol Elastomers (Spain).
Research Coverage: This research report categorizes the construction elastomers market on the basis of type, chemistry, application, and region.The report includes detailed information regarding the major factors influencing the growth of the construction elastomers market, such as drivers, restraints, challenges, and opportunities.
A detailed analysis of the key industry players has been done to provide insights into business overviews, products & services, key strategies, expansions, new product developments, agreements, and recent developments associated with the market.
Reasons to Buy the Report
The report will help market leaders/new entrants in this market in the following ways: 1. This report segments the construction elastomers market comprehensively and provides the closest approximations of market sizes for the overall market and subsegments across verticals and regions. 2. The report will help stakeholders understand the pulse of the market and provide them information on the key market drivers, restraints, challenges, and opportunities. 3. This report will help stakeholders understand the major competitors and gain insights to enhance their position in the business. The competitive landscape section includes expansions, new product developments, and joint ventures. 4. The report includes the COVID-19 impact on the construction elastomers market.
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