The construction films market is expected to surge at a CAGR of 4.74% to achieve a market size of US$17.383 billion by 2025, from US$13.166 billion in 2019. Construction film is a general-purpose polymer film widely used in construction projects. Construction films are utilized for covering, for example, in the form of dust covers or privacy protection on the construction spots. These are further used as moisture barriers, underlying film for scaffolding, water barriers below the concrete floor, and sound barriers in stadiums. These films have outstanding abrasion resistance, toughness and strength, ability to adapt to varying humidity, high puncture resistance, high tensile strength, are recyclable, maintenance-free, and are easy to apply. The construction film market seems to have a steady growth owing to its characteristics and advantages, along with a boost up by the government initiative and regulations recognizing the green building projects, which demand construction film products. Additionally, elevated use of construction films during the curing process of concrete owing to the ability to maintain hydration and inhibit moisture and their ability to maintain and stabilize soil temperature in agriculture is leading to higher demand.
However, strict rules and regulations imposed on plastic manufacturing and its usage, disposal, and recycling pose a challenge for market growth. Environmental regulations also act as a restrictive factor. Besides, the quality standards for recycled films have also increased their costs. To overcome these, the market demands technological improvements, innovations, and mergers & acquisitions so that the growth remains steady.
On the basis of geography, North America and Europe are expected to hold a significant market share due to the adoption of early inventions. With significant construction spending in the North American region, the market is projected to propel in the forecast period. On the other hand, the Asia Pacific region will witness a high market growth rate and is assumed to be the fastest-growing region during the forecast period due to the presence of a large consumer base. Hence, there is a high demand for construction activities to take place in the forecast period and in the upcoming years. This is due to the rapid urbanization in the APAC countries where there is a huge market demand in several smart cities projects, and repair and improvement of old infrastructure.
Green construction is driving the market demand in the forecast period.
Green building construction is in high demand at the global level, the government is also emphasizing green construction, hence, this is providing a huge opportunity for the market to thrive in the forecast period. Additionally, consumers around the globe are realizing the benefits of green buildings and are valuing eco-friendly techniques and solutions for the construction of residential, commercial, and industrial buildings contributing towards energy efficiency and cost-efficiency, driving sustainability. These consumer demands for green building construction have paved a path for innovations, further driving the market demand in the forecast period. Keeping in view the surging demand, the manufacturers are working on strengthening their R&D activities for delivering more high-quality products in their product portfolio to a wide range of consumers. Some of the products available in the market include high-performance window films for providing protection against UV and IR radiations and stabilizing indoor temperatures. Additionally, builders and manufacturers look for ways to reuse materials that are already in use in a construction project, hence, this will contribute to creating less waste, in addition to providing unique elements of the already-existing structures which are otherwise difficult to achieve.
In terms of cost-efficiency, construction involving green materials is expected to be quite affordable in comparison to other traditional construction materials. With time, green construction is becoming more economical due to the fact that this has been in high demand and is encouraging manufacturers for creating high-quality materials that help in fulfilling the sustainability standards. Australia, Hong Kong, Ireland, UAE, and Norway among others are a few countries in the world that are working on green projects during the forecast period.
The booming plastics industry is augmenting the market demand in the forecast period.
The immense use of plastics worldwide, despite the fact that it is harmful to the environment, is a huge source of revenue generation for manufacturers. The global plastic output grew from 245 million in 2006 to 348 million by 2016 (source: PlasticsEurope Trade Association). As per the association stats, the production growth rate increased by 3.9% in 2017 from 3.5% in 2015.
Furthermore, the demand for thermoplastics alone, which includes polyester (PET), polypropylene, polyethylene will continue to grow, fueling the market demand during the forecast period. According to the association stats, the demand surged by over 4% y-o-y growth during the period 1990-2017. With the growing global economy, the usage of plastics in construction and infrastructure development will also continue to propagate with time.
|Market size value in 2019||US$13.166 billion|
|Market size value in 2025||US$17.383 billion|
|Growth Rate||CAGR of 4.74% from 2019 to 2025|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Material Type, Application, End User, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Raven Industries, Inc., Plastika Kritis S.A., Tech Folien Ltd., Qingdao KF Plastics Co., Ltd, Eastman Chemical Company, Four Star Plastics, Polifilm GmbH, RKW Group, INDEVCO Group, Kalliomuovi|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the construction films market size by 2025?
A1. The construction films market is expected to reach a total market size of US$17.383 billion in 2025.
Q2. What are the growth prospects for the construction films market?
A2. The global construction films market is expected to surge at a CAGR of 4.74% during the forecast period.
Q3. What is the size of the global construction films market?
A3. Construction Films market was valued at US$13.166 billion in 2019.
Q4. What factors are anticipated to drive construction films market growth?
A4. The construction film market seems to have a steady growth owing to its characteristics and advantages, along with a boost up by the government initiative and regulations recognizing the green building projects, which demand construction film products.
Q5. Which region holds the largest market share in the construction films market?
A5. North America and Europe are expected to hold a significant share in the construction films market due to the adoption of early inventions.
Raven Industries, Inc.
Plastika Kritis S.A.
Tech Folien Ltd.
Qingdao KF Plastics Co., Ltd
Eastman Chemical Company
Four Star Plastics
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