The Construction Elastomers Market size was valued at USD 5.47 Billion in 2023 and is expected to reach USD 9.01 Billion by 2032 and grow at a CAGR of 5.70% over the forecast period of 2024-2032.
The demand for the construction elastomers market is increasing due to the automotive industry’s inclination towards lightweight and flexible materials. Thermoplastic elastomer is a popular construction elastomer as it is easy to use, design, and recycle. An estimated of 40% of the global consumption is used in vehicle manufacturing. With the growing electric vehicle market in China and the rise in the manufacture of automobiles over 94 million units globally by 2023, the demand for elastomers will surely increase. Not only do these elastomers add to the design flexibility, but they also enhance fuel efficiency and emission reduction. As the auto industry evolves, lightweight, versatile materials such as TPE will become essential.
These versatile elastomers are used in every part of the vehicle, and many can be recycled. Moreover, there is another lucrative opportunity as electric vehicles vie for noise-dampening and lightweight materials, as they require even more elastomers.
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Elastomers are progressively popular in construction due to the combination of strength and flexibility.
Advanced elastomers are gaining popularity in the construction industry. Their combination of strength and flexibility is beneficial for a variety of applications. Elastomers are resistant to such issues as abrasion, tearing, impact, and harsh weather, among other factors. They are applicable to essential building components such as roofing membranes and weather stripping, or more minor items such as carpeting, wall covering, and artificial turf. The development of TPU and TPE elastomers has brought new possibilities to construction. The compounds are distinguished by their exceptional UV protection, Mechanical performance and increased durability, in addition to visual appeal. The materials are highly customizable and may be tailored to match any building design. Specialized solutions are being developed by raw material and elastomer producers for use in both indoor and outdoor applications. They are suitable for a variety of applications, as shown by the existing research, with further research expected to improve their properties.
Recent Developments
· July 2024: BASF launched a new line of thermoplastic elastomers designed for high-performance applications in the construction sector, enhancing flexibility and durability.
· March 2024: Dow introduced a new SBC-based elastomer for improved weather resistance and sealing applications in residential construction.
· January 2024: Lanxess unveiled a series of advanced TPE products aimed at enhancing insulation and protective coatings in civil engineering projects.
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Segment Analysis
By Type
The thermoset segment is dominate the by-type segment in 2023. These products can withstand different harsh environments and remain in shape or functional without any problem. Items made from such types of products are outstanding in terms of sealing, insulation, and structure. In addition to chemical resistance, the high demand for them in the construction industry to manufacture long-lasting items that can perform exceptionally drives their performance. The ongoing need of the construction industry for high performers ensures that thermos elastomers will play a role in the launch of construction work.
By Application
Residential construction dominates in the construction elastomers market, holding over approximately 52% of the market share in 2023. The reason for this is straightforward — an exceptional set of physical properties that elastomers provide for homes and buildings. Weatherability, impact resistance, elasticity, flexibility, and aesthetics, all come realised with elastomers. Moreover, outstanding heat resistance, thermal stability, superior strength in the bonding process, and contribution to overall construction safety. Therefore, the demand for developing innovative and sustainable solutions will continue to drive elastomer progress in the residential construction industry.
Regional Insights
The APAC region is the dominating market for construction elastomers, holding a 42.23% share in 2023. Due to rapid industrialization and urban development. Countries like China and India are leading contributors, with significant investments in infrastructure projects and residential construction. Major companies such as BASF and Dow are expanding their presence in this region, providing innovative elastomer solutions for diverse construction needs. Moreover, The Indian government’s Make in India initiative will allow the construction industry to grow much faster, which will cause the demand for construction elastomers to rise for the duration of the forecast. In other words, a thriving automotive industry and construction sector along with a boost in infrastructure development keep Asia-Pacific in the lead.
Top of FormKey Takeaways
· The Construction Elastomers Market is poised for substantial growth, driven by increasing construction activities and demand for high-performance materials.
· Thermoplastic elastomers and styrene block copolymers are leading segments due to their superior properties and wide applicability.
· The Asia Pacific region is the largest market, driven by advanced construction practices and high demand for elastomers.
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