Infinium Global Research's recent report dives deep into the construction elastomers market, analyzing its various segments and sub-segments across global and regional landscapes. The study examines the influence of both short-term and long-term drivers, restraints, and macro indicators that impact this market. It provides a thorough breakdown of trends, forecasts, and dollar values associated with the global construction elastomers market. The report predicts a promising future, projecting a CAGR of around 6% for the market over the forecast period of 2022-2028.

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Market Report Scope

Construction elastomers, special synthetic polymers known for their elasticity, are playing an increasingly important role in the building industry. These rubbery materials offer a valuable combination of tear resistance, abrasion resistance, and high impact strength, making them ideal for various applications. From rooftop sheets and window profiles to essential adhesives, construction elastomers are finding their way into numerous building components.  The future looks bright for this market, with environmentally friendly elastomers expected to be a key driver of growth. These eco-conscious materials not only offer the same benefits as traditional elastomers but also boast tear resistance, versatility, high elongation, and impressive strength. Additionally, TPE and TPU varieties further enhance the mechanical performance and durability of infrastructure projects. However, despite this promising outlook, the high cost of these materials remains a hurdle that needs to be addressed for the market to reach its full potential.

Construction Elastomers Market: Growth Drivers and Challenges

• The construction elastomers market is experiencing steady growth, with a projected value of over USD 7 billion by 2028 (at a CAGR of 6%). This expansion is driven by several key factors:
• Rising Demand for Bio-based Elastomers: Developing countries are increasingly adopting bio-based elastomers, a sustainable alternative to traditional materials. These bio-based options offer comparable performance properties while utilizing renewable resources like vegetable oils. This shift towards eco-friendly construction practices creates significant growth opportunities.
• Improved Product Development: Continuous advancements in elastomer technology are leading to the creation of climate-friendly and user-friendly products. This focus on sustainability and ease of use attracts new customers and expands the market potential.
• Versatility and Performance: Elastomers offer a unique combination of properties – high impact strength, resilience, elongation, tear resistance, and abrasion resistance – making them ideal for various construction applications. These properties translate to increased durability and longevity of building components like roofing sheets, window seals, and adhesives.

The market also faces some challenges:

• High Material Cost: Compared to traditional construction materials, elastomers can be more expensive. This can be a barrier for some projects, particularly in cost-sensitive situations.
• COVID-19 Impact: The pandemic's restrictions on movement and business operations disrupted the construction industry in 2020. Limited availability of non-medical products, decreased construction spending, and project delays due to lockdowns all negatively impacted the market.

Market Analysis

The construction industry relies heavily on construction elastomers for their exceptional durability and resistance to weather and chemicals. These versatile materials find applications in various building components like rooftop sheets, window profiles, and adhesives. Bio-based elastomers, a game-changer, offer eco-friendly alternatives derived from renewable resources. This focus on sustainability expands the market's potential and attracts environmentally conscious builders. However, the market faces headwinds in the form of fluctuating raw material and crude oil prices, which can significantly impact production costs and ultimately hinder market growth

Regional Analysis

Dominant Growth: Asia Pacific (APAC)

• The APAC region is projected to be the growth leader throughout the forecast period. This surge is fueled by the recovering private construction sector in countries like China, India, and Southeast Asia. Recognizing this potential, global elastomer manufacturers are strategically investing in APAC nations, setting up production facilities to strengthen their regional presence. India, a major player in the global construction market, is also a significant consumer of construction elastomers, further contributing to APAC's dominance.

North America: Potential from Regulations

• North America presents a promising market with supportive government regulations. Policies encouraging a ban on plastic usage are expected to drive the demand for construction elastomers as a more sustainable alternative. This, coupled with the existing strong construction industry, positions North America for steady growth.

Europe and Middle East & Africa (MEA): Steady Expansion

• Europe and MEA are anticipated to experience stable growth in the construction elastomers market. While the pace might be slower compared to APAC, factors like increasing urbanization and government investments in infrastructure projects in these regions will contribute to the market expansion.
• The construction elastomers market presents significant opportunities for growth and innovation as the construction industry seeks durable, high-performance materials to meet evolving building codes, sustainability goals, and performance requirements. By leveraging advancements in elastomer chemistry, formulation technology, and sustainability practices, companies in the construction elastomers market can develop innovative products, expand into new markets, and address the evolving needs of customers for reliable, energy-efficient, and environmentally friendly construction materials.

Market Segmentation

By Type:

• Styrene Block Copolymers (SBCs): Offering a balance of flexibility and strength, SBCs are commonly used in roofing membranes and waterproofing applications.
• Styrene-Butadiene Rubber (SBR): A cost-effective option, SBR finds use in flooring, adhesives, and gaskets.
• Thermoplastic Polyurethanes (TPU): Known for their high abrasion and chemical resistance, TPUs are ideal for roofing sheets, hoses, and conveyor belts.
• Ethylene Propylene Diene Monomer (EPDM): EPDM's excellent weather resistance makes it suitable for roofing membranes, window seals, and electrical insulation.
• Natural Rubber: Providing elasticity and resilience, natural rubber is used in roofing membranes, hoses, and vibration dampeners.
• Acrylic Elastomer (ACM): Offering superior heat and oil resistance, ACM is used in gaskets, hoses, and roofing membranes for high-temperature applications.
• Butyl Elastomer (IIR): With excellent gas impermeability, butyl rubber is used in window profiles, roofing membranes, and inner tubes.

By Application:

• Residential: Elastomers play a vital role in various residential applications, including roofing membranes, window seals, flooring materials, and adhesives.
• Non-Residential: In commercial and industrial buildings, elastomers are used in roofing systems, expansion joints, waterproofing membranes, and soundproofing materials.
• Civil Engineering: Infrastructure projects utilize elastomers for bridge bearings, expansion joints, waterproofing membranes, and tunnel seals.

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Competitive landscape

• Arkema, Dow
• Covestro AG
• Huntsman International LLC.
• Teknor Apex
• The Lubrizol Corporation
• KRATON CORPORATION
• Mitsubishi Chemical Corporation
• DuPont
•  

Future outlook

The future of the construction elastomers market appears bright, with the report predicting steady growth through 2028. This growth is likely fueled by a combination of factors explored within the report. The IGR-Growth Matrix analysis helps identify promising investment areas for both established and new players looking to capitalize on these opportunities. Additionally, the report utilizes analytical tools like Porter's Five Forces and DRO analysis to provide a comprehensive understanding of the market's competitive landscape and key drivers and restraints. By leveraging these insights and staying informed about highlighted future trends, companies can develop targeted strategies to thrive in the evolving construction elastomers market.