Construction Elastomers Global Market Report 2024

Construction elastomers, synthetic polymers with elastic properties, play a crucial role in the building industry. These rubbery materials, composed of lengthy chainlike molecules or polymers, can be stretched over considerable distances and still return to their original shape. Combining the advantages of plastics and rubber, construction elastomers find applications in various construction scenarios. Their robust impact and tear resistance make them valuable in roofing sheets, window profiles, building insulation, adhesives, gaskets, and door handle seals.

The primary types of construction elastomers are thermoset and thermoplastic. Thermosets consist of elastomeric materials that do not melt when heated. In the building and construction sector, thermoset elastomers are utilized in applications such as adhesives and sealants, thermal insulation, roofing, flooring, piping, bridge structures, cementing, and the repair and rehabilitation of civil structures. Various types of chemistry, including styrene block copolymers (SBC), thermoplastic polyurethanes (TPU), styrene-butadiene (SBR), ethylene propylene diene monomer (EPDM), natural rubber, acrylic elastomers (ACM), butyl elastomers (IIR), and others, cater to different applications in residential, non-residential, and civil engineering contexts.

The construction elastomers market research report is one of a series of new reports that provides construction elastomers market statistics, including construction elastomers industry global market size, regional shares, competitors with a construction elastomers market share, detailed construction elastomers market segments, market trends and opportunities, and any further data you may need to thrive in the construction elastomers industry. This construction elastomers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The construction elastomers market size has grown strongly in recent years. It will grow from $5.79 billion in 2023 to $6.31 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth observed in the historical period can be attributed to several factors, including urbanization trends, a focus on energy efficiency, the demand for weather-resistant materials, the emphasis on sustainable construction practices, and ongoing infrastructure development. These factors collectively contributed to the expansion and development of the construction industry during that time, reflecting broader trends and priorities in building and infrastructure projects.

The construction elastomers market size is expected to see strong growth in the next few years. It will grow to $8.89 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The anticipated growth in the forecast period can be attributed to various factors, including the focus on resilient and disaster-resistant buildings, the demand for energy-efficient green buildings, the integration of smart building technologies, the need for renovating aging infrastructure, and the emphasis on urban regeneration. Major trends expected during this period encompass developments in seismic resilience, the adoption of cool roof systems, the use of self-healing elastomers, advancements in 3D printing and customization, and the utilization of elastomeric roof coatings

The increase in the demand for sustainable buildings is poised to be a major driver for the construction elastomer market in the forecast period. Sustainable construction aims to reduce the environmental impact of the industry through sustainable development practices, improved energy efficiency, and the adoption of green technologies. Construction elastomers, known for being environmentally friendly, renewable, and safe for both residential and non-residential purposes, align well with the goals of sustainable construction. A 2021 survey by the Royal Institution of Chartered Surveyors (RICS) and the World Built Environment Forum indicated a significant rise in demand for 'green' or 'sustainable' buildings, with 55% of respondents globally reporting increased demand. In Europe, the demand saw the highest surge, with 69% of respondents noting increased demand. Even in the Middle East and Africa, where demand growth was slower, 39% of respondents reported an increase in demand. This growing emphasis on sustainable construction is expected to drive substantial demand for construction elastomers, contributing to the growth of the construction elastomer market.

The increasing demand for residential projects is anticipated to propel the growth of the construction elastomer market. Residential projects encompass various construction endeavors focused on creating living spaces. Construction elastomers play a vital role in residential projects, providing effective solutions for sealing, insulating, and protecting various components of homes, ensuring structural integrity, comfort, and durability. Notably, in February 2023, the US homeownership rate increased from 65.6% in 2021 to 66% in 2022, constituting 10% of recent home sales in the same year. Additionally, 1,382,000 new homes began construction in December 2022. This surge in demand for residential projects is expected to be a significant driver for the construction elastomer market.

A notable trend in the construction elastomer market is the increase in investments by key players in the research and development of elastomer processing to enhance its properties and develop new products. Major companies in the construction elastomers market are focusing on R&D investments to meet customer demands and strengthen their market positions. For example, in January 2021, Mallard Creek Polymers, a US-based producer of styrene acrylic emulsion polymers for the elastomeric roof coatings market, launched Rovene 6120 - an all-acrylic emulsion polymer for highly durable elastomeric roof coatings adhering to ASTM D 6083. The company obtained third-party confirmation that Rovene 6120 can meet or surpass ASTM D6083, the Standard Specification for Liquid-Applied Acrylic Coating Employed in Roofing, showcasing a commitment to advancing elastomer technologies.

Major players in the construction elastomer market are strategically focusing on product launches, exemplified by initiatives such as the introduction of the DuraPearl Elastomer System, to cater to the increasing demand in the construction sector. The DuraPearl Elastomer System is an advanced polyurea-based spray coating solution designed to address a diverse range of industrial applications. Notably, in March 2023, Pearl Polyurethane Systems, a chemical manufacturer based in the UAE, unveiled the DuraPearl Elastomer System. This innovative solution offers multiple benefits compared to traditional options like standard membranes, epoxy, and regular polyurethane systems.

In a significant move in December 2021, Pexco LLC, a specialty plastics extruder based in Georgia, acquired Performance Elastomers Corporation (PEC) for an undisclosed amount. This strategic acquisition is anticipated to enhance Pexco's silicone and thermoplastic elastomer product lines, broadening its capabilities to include other high-performance polymer solutions. The objective is to provide added value to clients in the mobility, recreational vehicle, and truck aftermarkets. Additionally, the acquisition positions Pexco to expand into other industries where specialized products like construction elastomers are in demand. Performance Elastomers Corporation (PEC), the acquired company, is a US-based manufacturer specializing in construction elastomers.

Major companies operating in the construction elastomers market include Dow Chemical Company, Arkema SA, BASF SE, Covestro AG, Huntsman Corporation, Tosoh Corporation, Evonik Industries AG, Mitsubishi Chemical Company, The Lubrizol Corporation, PJSC SIBUR Holding, Teknor Apex Company, Dynasol Group, Kraton Corporation, Asahi Kasei Corporation, Exxon Mobil Corporation, Lanxess AG, Dow Inc., Zeon Corporation, JSR Corporation, LG Chem Ltd., Kuraray Co. Ltd., Momentive Performance Materials Inc., Wacker Chemie AG, Bridgestone Corporation, Continental AG, Eastman Chemical Company, Compagnie Générale des Établissements Michelin, Shin-Etsu Chemical Co. Ltd., Sumitomo Chemical Co. Ltd., The Goodyear Tire & Rubber Company, Trinseo LLC

Asia-Pacific was the largest region in the construction elastomers market in 2023. North America was the second-largest market in the construction elastomers market share. The regions covered in the construction elastomers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the construction elastomers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

The construction elastomers market consists of sales of construction elastomers by types of chemistry, including silicone, neoprene, and polybutadiene. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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