The rise in demand for elastomers from the construction industry is the key factor driving the market growth. The construction elastomers market is driven by the recovery of the construction sector during the forecast period.
The SNS Insider report indicates that the Construction Elastomers Market Size was valued at USD 5.60 billion in 2022, and is expected to reach USD 8.72 billion by 2030, growing at a CAGR of 5.7% over the forecast period 2023-2030. The construction elastomers market is witnessing significant growth due to the expanding construction sector worldwide, driven by urbanization, infrastructure development, and population growth. Elastomers are versatile materials known for their elasticity, durability, and resistance to weathering, making them essential components in a wide range of construction applications. From sealing and waterproofing to insulation and vibration damping, elastomers play a crucial role in enhancing the performance, longevity, and sustainability of buildings, infrastructure, and civil engineering projects.
One significant trend shaping the construction elastomers market is the increasing demand for energy-efficient and sustainable building materials and solutions. With rising concerns about climate change and environmental degradation, there is a growing emphasis on green building practices, energy conservation, and carbon footprint reduction in the construction industry. Elastomeric materials such as thermoplastic elastomers (TPEs) and thermoset elastomers offer excellent insulation properties, weather resistance, and durability, making them ideal choices for energy-efficient roofing systems, insulation membranes, and sealants that help improve building energy performance and reduce environmental impact.
Market Report Scope:
Construction elastomers, synthetic polymers with elastic properties, find extensive use in the construction industry. With rubbery characteristics, elastomers offer tear resistance, abrasion resistance, and high impact strength. Applications include rooftop sheets, window profiles, adhesives, and more. Environmentally friendly elastomers are projected to drive significant market growth, offering tear resistance, great versatility, high elongation, abrasion resistance, and high strength. TPE and TPU elastomers enhance mechanical performance and durability in infrastructure projects. Despite the growth potential, the high cost of materials remains a constraint on market growth.
Get Sample Report of Construction Elastomers Market @ https://www.snsinsider.com/sample-request/2368
Major Key Players in the Construction Elastomers Market
l Huntsman Corporation, S. A
l Chemical Corporation
l Dow
l Teknor Apex Company
l Covestro AG
l Lubrizol Corporation
l Mitsubishi Chemical Company
l BASF SE
l Kraton Corporation, China Petroleum
l Tosh Corporation
l DuPont
l Other Players.
Market Analysis:
Construction elastomers contribute significantly to the construction sector's growth due to their enhanced durability, weather, and chemical resistance, and versatile applications in rooftop sheets, window profiles, and adhesives. Bio-based elastomers, derived from renewable resources, offer environmentally friendly solutions and expand the market's potential. However, fluctuating raw material and crude oil prices pose challenges, affecting market growth.
Segment Analysis:
By Type
l Thermoset
l Thermoplastic
By Chemistry
l Styrene block copolymers (SBC)
l Thermoplastic Polyurethanes (TPU)
l Styrene-butadiene (SBR)
l Ethylene-propylene (EPM/EPDM)
l Natural Rubber (NR)
l Thermoplastic polyolefin (TPO)
l Butyl Elastomer (IIR)
l Acrylic (ACM) Elastomer
l Thermoplastic vulcanizate (TPV)
l Silicon (Q) Elastomer
l Others
By Application
l Residential
l Non-residential
l Civil Engineering
Residential applications dominated the construction elastomers market, accounting for approximately 48% market share in 2022. The demand in residential applications is propelled by excellent physical properties, including impact resistance, elasticity, and improved safety.
Regional Development:
In 2022, APAC led in volume and value in the construction elastomers market, followed by North America and Europe. The APAC region is expected to witness the highest growth, driven by the recovery of residential construction in China, India, and Southeast Asian countries. Elastomer manufacturers are investing in APAC to strengthen their market presence. India, a significant market, is poised for growth with the government's focus on the Make in India project.
Key Takeaways:
· The construction elastomers market is set to surpass USD 8.72 billion by 2030, driven by increased demand from the recovering construction sector.
· Bio-based elastomers offer environmentally friendly solutions, supporting customer-focused activities.
· Residential applications dominate the market, benefiting from elastomers' excellent physical properties.
· APAC leads in volume and value, with India playing a crucial role in the market's growth.
Recent Developments:
· In Nov 2023, DuPont opened a new manufacturing site for DuPont™ Kalrez® in Newark, Delaware, meeting growing global customer demand.
· In Aug 2023, Covestro initiated production in its new plant for polyurethane elastomers systems in Shanghai, China.
· In Jan 2023, Teknor Apex introduced Monprene® S3 CP-15170 BLK, an eco-conscious TPE made with 35% sustainable content.
· In June 2021, Huntsman unveiled IROGRAN® A 85 P 4394 HR TPU, a new TPU grade offering significant improvements in durability and production efficiency.
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
Comments