As the final market, construction has always been one of the largest consumers of plastics and polymer composites. The application range is very wide, from roofs, decks, wall panels, fences and insulation materials to pipes, floors, solar panels, doors and windows and so on.                                                                                            

                                                  The lightweight plastic pipe is easy to install, operate and maintain. The flexibility of plastic also means that plastic pipes can cope with soil movement.

A 2018 market study by Grand View Research valued the global sector at $102.2 billion in 2017 and projected it would grow at a compounded annual growth rate of 7.3 percent to 2025. PlasticsEurope, meanwhile, has estimated that the sector in Europe consumes about 10 million metric tons of plastics each year, or about one-fifth of the total plastics used in the region.

Recent U.S. Census Bureau data indicate that U.S. private residential construction has been rebounding since last summer, after slumping from March to May as the economy slowed due to the pandemic. The uptick continued throughout 2020 and, by December, private residential construction spending was up by 21.5 percent from December 2019. The U.S. housing market — bolstered by low mortgage interest rates — is projected to continue growing this year, according to the National Association of Home Builders, but at a slower rate than last year.

Regardless, it remains a huge market for plastic products. In construction, applications tend to value durability and have a long lifespan, sometimes remaining in use for several years, if not decades. Think PVC windows, siding or flooring, or polyethylene water pipes and the like. But still, sustainability is front and center for companies developing new products for this market. The aim is both to minimize waste during production, and to incorporate more recycled content into products such as roofing and decking.

                                                                                                                                                         

                                                                                                                                            02Luxury vinyl tiles boom as flooring option

Flooring is another fast-growing end use for vinyl in both residential and commercial construction. While cheap-looking, utilitarian vinyl has been used in flooring for many years, new production methods are helping to raise the quality and image of the product so that it can closely mimic wood or stone finishes while still being softer underfoot, durable and easy to clean.One 2019 market study projects the luxury vinyl tiles (LVT) flooring market to grow from $18 billion in 2019 to $31.4 billion by 2024, registering a compounded annual growth rate of 11.7 percent from 2019 to 2024.▲In terms of value and quantity, during the forecast period from 2019 to 2024, it is estimated that the Asia-Pacific region will occupy the largest share of the luxury vinyl tile (LVT) flooring market.