Construction Elastomers Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
The Business Research Company’s Construction Elastomers Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
— The Business Research Company
LANDON, GREATER LANDON, UK, November 21, 2023 /EINPresswire.com/ — The global construction elastomers market, distinguished by type, chemistry, and application, witnessed substantial growth, escalating from $5.32 billion in 2022 to $5.85 billion in 2023, marking a notable compound annual growth rate (CAGR) of 10.0%. The projections indicate continued expansion, with an anticipated market size of $7.8 billion by 2027, maintaining a CAGR of 7.4%.
In-Depth Segmentation: Understanding Market Dynamics
1) By Type: Thermoset, Thermoplastic
2) By Chemistry: Styrene Block Copolymers (Sbcs), Thermoplastic Polyurethanes (Tpu), Styrene-Butadiene (Sbr), Ethylene Propylene Diene Monomer (Epdm), Natural Rubber, Acrylic Elastomer (Acm), Butyl Elastomer (Iir), Other Chemistry
3) By Application: Residential, Non-Residential, and Civil Engineering
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Key Drivers: Meeting the Demand for Sustainable Buildings
The construction elastomers market is poised for growth, propelled by the increasing demand for sustainable buildings. Sustainable construction aims to reduce environmental impact through sustainable development methods, enhanced energy efficiency, and the adoption of green technologies. Construction elastomers, being environmentally friendly and renewable, find secure applications in both residential and non-residential constructions. A survey conducted by the Royal Institution of Chartered Surveyors (RICS) and the World Built Environment Forum in 2021 revealed a rising demand for “green” or “sustainable” buildings, with 55% of respondents noting increased demand. Notably, Europe led in demand growth, with 69% of respondents reporting heightened demand. This trend is expected to significantly boost the construction elastomers market.
Market Leaders: Pioneering Innovation
Major players in the construction elastomers market include The Dow Chemical Company, Arkema S.A., BASF SE, and Huntsman Corporation, among others. These industry leaders play a crucial role in shaping the market landscape.
Innovative Trends: Research and Development Driving Progress
A prominent trend in the construction elastomer market is the increased investment by key players in the research and development of elastomer processing to enhance its properties and develop new products. Companies are actively investing in R&D to meet customer demands and reinforce their market position. For instance, Mallard Creek Polymers, a US-based producer of styrene acrylic emulsion polymers, launched Rovene 6120 in January 2020. This all-acrylic emulsion polymer for highly durable elastomeric roof coatings adheres to ASTM D 6083, demonstrating the commitment to meeting industry standards and delivering high-quality products.
Regional Dynamics: Asia-Pacific Leading the Charge
In 2022, Asia-Pacific emerged as the largest region in the construction elastomers market, with North America securing the second-largest market share. Comprehensive regional coverage encompasses Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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Construction Elastomers Global Market Report 2023from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Construction Elastomers Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on construction elastomers market size, construction elastomers market drivers and trends, construction elastomers market major players, competitors’ revenues, construction elastomers market positioning, and construction elastomers market growth across geographies. The construction elastomers market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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Article originally published on www.einpresswire.com as Unveiling the Construction Elastomers Market Dynamics