According to UnivDatos, the Construction Elastomers Market was valued at approximately USD 5.7 Billion in 2023 and is expected to grow at a robust CAGR of around 5.5% during the forecast period (2024-2032). This is mainly due to the rise in demand from important application domains along with the advancements in processing technologies. Moreover, elastomers possess great physical properties like high durability, impact resistance, low weight, elasticity, softness, strength, superior optics, enhanced thermal resistance & stability, adhesive properties, and enhanced safety. The growth of Industrial elastomers has increased manifold among major population hubs, owing to their recyclable, eco-friendly, and non-toxic applications. Moreover, as per a poll done by the Royal Institution of Chartered Surveyors (RICS) and the World Built Environment Forum, 55% of the respondents reported a preference for 'green' or 'sustainable' buildings had surged. In addition, the rising concern of emissions across the globe coupled with rising government initiatives in various economies to adopt eco-friendly products is positively impacting the market growth of the construction elastomers market.

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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.

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 a great potential in the future due to their inherent characteristics i.e., possessing the strength of thermoplastics & the functional properties of thermosetting rubber. Further, with the increase in construction activities, Styrene Block Copolymers (SBCs) are projected to have significant growth due to their versatile nature.

For a better understanding of the market adoption of the construction elastomer industry, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America); Europe (Germany, France, UK, Italy, and Rest of Europe); Asia-Pacific (China, India, Japan, Rest of Asia-Pacific), and Rest of World. Asia-Pacific is expected to witness the highest CAGR during the forecast period on account of rapidly growing construction activities in countries like China and India, which is further fueled by growing population and urbanization. These emerging economies are showcasing a growing demand for sustainable buildings, which can be observed as one of the major driving forces behind the adoption of construction elastomers.

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Some of the major players operating in the market include Arkema S.A, Asahi Kasei Corporation, BASF SE, The Dow Chemical Company, Covestro AG, Huntsman Corporation, Teknor Apex Company, Lubrizol Corporation, DuPont, Kraton Corporation.

Global construction elastomers market segmentation

Market Insight, by type

·       Thermoplastic   

·       Thermoset

Market Insight, by application

·       Residential

·       Non-Residential

·       Commercial

Market Insight, by chemistry

·       Styrene Block Copolymers (SBCs)

·       Thermoplastic Polyurethanes (TPU)

·       Styrene Butadiene (SBR)

·       Ethylene Propylene Diene Monomer (EPDM)

·       Acrylic Elastomer (ACM)

·       Butyl Elastomer (IIR)

·       Natural rubber

Top company profiles

·       Arkema S.A

·       Asahi Kasei Corporation

·       BASF SE

·       The Dow Chemical Company

·       Covestro AG

·       Huntsman Corporation

·       Teknor Apex Company

·       Lubrizol Corporation

·       Kraton Corporation

·       DuPont

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