Construction Elastomers Market- Industry Size & Share

Construction Elastomers Market Overview

Construction Elastomers market was estimated at USD 5.74 billion in 2023, and is projected to reach 8.84 billion by 2032, growing at a CAGR of 4.91%.

Elastomers are natural or artificial polymers having elastic properties. These elements are made of polymers, which are combined with the aid of using chemical bonds by obtaining crosslinked structure. Construction elastomers offer benefits for each plastic and rubber and hence a new type of elastomer created with both combinations which are adaptable in various applications. Compared to other materials, elastomers have an excessive failure/yield strain. They are amorphous once they exist above their glass transition temperature, they permit the opportunity of considerable segmental motion. Because of this, the rubbers are incredibly deformable and soft while they're at ambient temperatures. Most elastomers are thermosets and require curing through heat, irradiation, or chemical reaction. Construction Elastomers have wide application in adhesives and sealants, construction, industrial products, medical products, motor vehicles, wire, and cables. The construction Elastomers market has bright prospects due to large applications in various domains creating a versatile substance creating a growth opportunity for construction Elastomers globally.

Market Dynamics and Factors of Construction Elastomers Market

Drivers:

The driver for the growth of elastomers in the construction industry has increased due to their abrasion resistance, tear resistance, excessive elongation; effect strength; and exact resilience. Bitumen modification, roofing membranes, climate-stripping, waterproofing, carpeting, wall coverings, window & climate seals, windows & door frames, synthetic turf, street markings, enlargement joints, and haven additives are the key application in the construction sector. The use of TPU and TPE elastomers in constructing & building sector gives higher UV protection, exact mechanical overall performance, and growth sturdiness of the development area with higher aesthetics. Such widespread application in building and construction has boosted the construction elastomer market.

Elastomers have a colorless element that can be manufactured in the desired color suited for the construction of the floor or roof according to the aesthetics of the premises. Moreover, they offer higher low-temperature overall performance and excessive abrasion resistance. With those characteristics, elastomers are utilized in indoor door handles, cowl strips, window & climate seals, synthetic turfs, and paints & coatings. Low cost and occasional wastage throughout processing are helping demand for the growth of construction-based elastomers. Recent programs consist of outside designs together with door handles, roof coatings, and outside façade panels, as creation elastomers are clean to the system and display excessive hydrolytic stability.

Construction raw material manufacturers are taking part with elastomer producers to provide changed creation elastomers for numerous indoor and outside programs. More R&D in elastomer processing for enhancing its homes is being performed via way of means of numerous producers. Elastomers are processed and became grades with excessive effect resistance. These grades may be used withinside the production of obvious films & tubes or in locations wherein aesthetic necessities are excessive withinside the construction area. New research and development in elastomer usage in a variety of industries and current widespread application driving the global construction elastomers market.

Restraints:

Thermoplastic elastomer which is a type of construction elastomer requires huge investment in manufacturing compared to traditional materials which include polyethylene, PVC, rubbers, and polyurethane. The manufacturing tool operates at high temperatures with advanced technical know-how to manufacture construction elastomers. The enormous investments and complicated production procedures have expanded the value of construction elastomers. The excessive manufacturing value of construction elastomers has confined its large-scale use, on the whole to high-end applications. Compounding grades of polyethylene, polypropylene, acrylonitrile butadiene styrene and polyurethane are developed to have similar properties to construction elastomers and. This creates excessive competition for the development elastomers market, having excessive utility in the residential, commercial, and infrastructure segments. The growing cost of raw materials impacts the overall cost of construction elastomers.

Opportunities:

Biobased elastomers are crafted from renewable sources together with vegetable oils and fatty acids. It gives equivalent-to-higher homes than the conventional elastomers, specifically for the building & construction, electronics, and shoe industries. The production of biobased elastomers improves its biodegradability and decreases using non-renewable sources. Continuous innovation and commercialization of biobased elastomers are growing new possibilities for enterprise players. Also, many artificial elastomers or rubber producers have shifted their focus towards growing sustainable and environment-pleasant products.

BASF and Lubrizol manufacture biobased elastomers for the construction, shoes, automotive, industrial, electronics, and fabric industries. Various biopolymers together with are corn starch, wheat starch, poly hydroxybutyrate (PHB), polylactide (PLA), castor oil, and palm oil are used to produce biobased elastomers. Newly progressed biobased elastomers are similar properties to traditional elastomers and have a certain advantage due to the excessive raw material cost of diisocyanates and polyols. R&D for the production of biobased elastomers created a growing opportunity for the manufacturer in the sector.

Market Segmentation

Segmentation Analysis of Construction Elastomers Market:

By Type, Saturated elastomer is the dominating segment in the construction elastomer market. Saturated elastomer is anticipated to grow at a constant pace during the forecasted period. Saturated elastomers include polyacrylic rubber, silicone rubber, polyether block amides, ethylene-vinyl acetate. Saturated elastomer contains greater stability against ozone, heat, oxygen, and radiation. Saturated elastomers have a lower reaction rate and only react in a partial number of situations under specific conditions which gives them higher preference in multiple applications other than construction and building maintenance applications. Due to the wide usage of Saturated elastomers in various domains, Construction Elastomers Market has experienced substantial growth globally.

By Application, Residential is the dominating segment in the construction elastomers market. Higher demand for elastomers in residential applications is driven by outstanding properties of elastomers such as weatherability, impact resistance, elasticity, soft and lightweight, heat resistance, thermal stability, and adhesive properties. Such diverse properties have made elastomers a prime choice in numerous applications in construction. Residential segment account for 50% market share in 2020. Although residential construction and projects experienced a decline in the past two years (2018-2019) due to global economic slowdown, recovery is expected during the forecast period. Moreover, new developments in the application of construction elastomers in sustainable and earthquake-proof construction will offer new opportunities for construction elastomers manufacturers worldwide.

Regional Analysis of Construction Elastomers Market:

Asia Pacific region is dominating the construction elastomers market. The use of construction elastomers is expected to witness the highest growth in the Asia Pacific region during the forecast period. The market in this region is driven by the recovery of residential construction in China, India, and Southeast Asian countries. Global elastomers manufacturers are investing in APAC countries to establish their production plants to enhance their market presence in the region. India is a significant market for construction and one of the largest consumers of construction elastomers in the world. The focus of the Indian government towards the make in India project will drive the construction industry in India which will further enhance the demand for construction elastomers during the forecast period in the country.

North America is one of the fastest-growing regions in the construction elastomers market. The United States is a rapidly emerging economy and has become one of the biggest production of houses in the world. Numerous automotive manufacturers are planning to invest largely in the coming years, this factor is expected to positively impact the automotive industry in the country in the coming years, thereby increasing the consumption of TPE in the automotive industry through the forecast period.

The European region is growing at a fast pace due to construction growth drift in Germany is expected to continue due to sharply rising demand for real estate, increasing population, and increased job security making new projects flourish in the European market.

Middle East region has substantial demand for construction elastomers with large ongoing construction projects in Dubai, Abu Dhabi, Qatar, and other local regional construction. The massive use of thermoplastic and construction elastomer in Heating, ventilation, and air conditioning (HVAC) office buildings, as well as skyscrapers and aquariums, where indoor conditions are regulated concerning humidity and temperature, using fresh air from outdoors. Thus, high demand from the middle east region has boosted the construction elastomer market.

Players Covered in Construction Elastomers Market are:

• Arkema S.A
• BASF SE
• Dow
• Covestro AG
• Huntsman Corporation
• Teknor Apex Company
• Lubrizol Corporation
• Tosh Corporation
• Kraton Corporation
• China Petroleum and Chemical Corporation
• Mitsubishi Chemical Company
• DuPont
• SIBUR
• Evonik Industries AG
• Dynasol Elastomers. and other major players.

Key Industry Developments In Construction Elastomers Market

• March 2021, Versalis Eni's chemical company which is a leading manufacturer of elastomers has engaged in a joint development agreement with Bridgestone EMIA for the research, manufacturing, and supply of synthetic rubber with advanced properties. The Research and Development divisions of both organizations will opt for an Open Innovation model, to develop technologies and new elastomer grades, including Styrene Butadiene Rubber, for the production of high-performance tires.
• In January 2020, Arkema SA took over LIP Bygningsartikler AS from Denmark which is a leading manufacturer in tile adhesives, waterproofing systems, and floor preparation solutions. The acquisition was a strategic move that strengthened Arkema’s portfolio to grow its adhesives business.