Construction Elastomers Market: Current Analysis and Forecast (2021-2027)
$3999 – $7577
Emphasis on Type (Thermoset, Thermoplastic); Chemistry (Styrene Block Copolymers (SBCs), Thermoplastic Polyurethanes (TPU), Styrene Butadiene (SBR), Ethylene Propylene Diene Monomer (EPDM), Acrylic Elastomer (ACM), Butyl Elastomer (IIR), Natural rubber) and Application (Residential, Non-Residential, Commercial)
Detailed Analysis of COVID-19 Impact on the Construction Elastomers Market
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.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|1.1. Market Definitions|
|1.4. Currency used in Report|
|2.1. Research Process of the Construction Elastomers Market|
|2.2. Research Methodology of the Construction Elastomers Market|
|2.3. Forecasting Method|
|2.4. Respondent Profile|
|2.5. Main Objective of the Construction Elastomers Market Study|
|3 MARKET SYNOPSIS|
|4 EXECUTIVE SUMMARY|
|5 GLOBAL CONSTRUCTION ELASTOMERS MARKET COVID-19 IMPACT|
|6 GLOBAL CONSTRUCTION ELASTOMERS MARKET REVENUE, 2019-2027F|
|8.1. Styrene Block Copolymers (SBCs)|
|8.2. Thermoplastic Polyurethanes (TPU)|
|8.3. Styrene Butadiene (SBR)|
|8.4. Ethylene Propylene Diene Monomer (EPDM)|
|8.5. Acrylic Elastomer (ACM)|
|8.6. Butyl Elastomer (IIR)|
|8.7. Natural rubber|
|10.1. North America|
|10.1.3. Rest of North America|
|10.2.5. Rest of Europe|
|10.3.4. Rest of Asia-Pacific|
|10.4. Rest of world|
|11.1. Market Drivers|
|11.2. Market Challenges|
|11.3. Impact Analysis|
|12 CONSTRUCTION ELASTOMERS MARKET OPPORTUNITIES|
|13 CONSTRUCTION ELASTOMERS MARKET TRENDS|
|14 POLICY & REGULATORY FRAMEWORK|
|15.1. Demand Side Analysis|
|15.2. Supply Side Analysis|
|16 VALUE CHAIN ANALYSIS|
|17.1. Competitive Landscape|
|17.1.1. Porter’s Five Forces Analysis|
|18.1. Arkema S.A.|
|18.2. Asahi Kasei Corporation|
|18.3. BASF SE|
|18.4. The Dow chemical company|
|18.5. Covestro AG|
|18.6. Huntsman Corporation|
|18.7. Teknor Apex Company|
|18.8. Lubrizol Corporation|
|18.10. Kraton Corporation|
Research Methodology for the Global Construction Elastomers Market Analysis (2021-2027)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global construction elastomers market were the three major steps undertaken to create and analyze the adoption of construction elastomers in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global construction elastomers market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the construction elastomers market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the construction elastomers market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, chemistry, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the construction elastomers market. Further, we conducted factor analysis using dependent and independent variables such as various offerings and techniques of construction elastomers. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisitions, business expansion, and product launches in the construction elastomers market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global construction elastomers market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of construction elastomers market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global construction elastomers market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global construction elastomers market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of offering and technique in the global construction elastomers market.
The main objective of the Global Construction Elastomers Market Study
The current & future market trends of the global construction elastomers market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the construction elastomers market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type, chemistry and application.
- Define and analysis of the regulatory framework for the construction elastomers market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the construction elastomers market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the world.
- Company profiles of the construction elastomers market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry