Construction Elastomers Market: Current Analysis and Forecast (2021-2027)

Construction Elastomers Market: Current Analysis and Forecast (2021-2027)

The global construction elastomers market is experiencing significant growth due to increasing construction activities in developing countries, supporting government policies for adopting sustainable and environment-friendly materials in the elastomer industry, and promulgating strategic alliances among industry players. For example, in December 2019, Arkema announces the acquisition by Bostik of LIP Bygningsartikler AS (LIP), the Danish leader in tile adhesives, waterproofing systems, and floor preparation solutions. The project will enable Bostik to offer its customers an extended range of high-value-added solutions while boosting its presence in Nordic countries. Moreover, with the growing focus on cost-cutting & using sustainable materials in developed nations, elastomers come in like a knight in shining armor, providing excellent physical property & molding ability.

Global construction elastomers market is expected to register a CAGR of around 6% over the period of 2021-2027.

Elastomers are natural or synthetic polymers having elastic-like properties i.e., they retain their shape after getting stretched/compressed. Elastomers are used to take advantage of both plastic and rubber. This is mainly due to the rise in demand from important application domains along with the advancements in processing technologies. Because of their abrasion resistance, tear resistance, high elongation, impact strength, and excellent resilience, elastomers are in great demand in the construction sector.

Arkema S.A, Asahi Kasei Corporation, BASF SE, The Dow Chemical Company, Covestro AG, Huntsman Corporation, Teknor Apex Company, Lubrizol Corporation, DUPONT, and Kraton Corporation are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
"Amongst Type, Thermoplastic category accounted for the majority share in the market in 2020”

Based on type, the market is classified into thermoset and thermoplastic. Thermosets do not melt upon heating and are mainly used in sealants, insulation, gaskets, and door seals. While thermoplastic has low-melting-point, they are best suited for applications that use recycled material. Since recycling and sustainability are becoming more widely accepted and mainstream, we see great potential for thermoplastics due to their re-molding ability upon heating.

“Amongst Chemistry, Styrene Butadiene (SBR) is expected to witness highest CAGR during the forecast period”

Based on Chemistry, the market is categorized into Styrene Block Copolymers (SBCs), Thermoplastic Polyurethanes (TPU), Styrene Butadiene (SBR), Ethylene Propylene Diene Monomer (EPDM), Acrylic Elastomer (ACM), Butyl Elastomer (IIR), Natural rubber. SBCs have great potential in the future due to their inherent characteristics i.e. possessing the strength of thermoplastics & the functional properties of thermosetting rubber. With the increase in construction activities, Styrene Block Copolymers (SBCs) are projected to have significant growth due to their versatile nature.
"Resident market to witness significant growth during the forecast period”

Based on Application, the market is divided into Residential, Non-residential, and Commercial. In developing nations, we observe the residential market to possess the highest market share. There is potential for more growth, as more sustainable & earthquake-proof residential constructions have commenced. The Indian government's focus on the Make in India initiative would propel the construction sector in the country, boosting demand for construction elastomers throughout the projected period.
"APAC to witness significant growth during the forecast period”

Asia-Pacific is expected to show the highest CAGR growth in the construction elastomers market. The major contributors to the growth of this market are China and India. Excellent physical properties, such as wettability, impact resistance, minimum weight, elasticity, softness, flexibility, superior optics, increased heat resistance, thermal stability, adhesive properties, and improved construction safety, are driving demand for elastomers in residential applications. Moreover, due to the global economic slowdown, the industry has been in decline for the past few years. However, in the projection period, the segment is likely to recover. Furthermore, an emphasis on environmentally friendly and earthquake-resistant buildings will open up new prospects for construction elastomers manufacturers in the region.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
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• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
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• Deep dive regional level analysis of the industry.