New York, March 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Construction Elastomers Global Market Report 2022" - https://www.reportlinker.com/p06244987/?utm_source=GNW
The global construction elastomers market is expected to grow from $4.75 billion in 2021 to $5.27 billion in 2022 at a compound annual growth rate (CAGR) of 10.9%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $6.89 billion in 2026 at a CAGR of 6.9%.
The construction elastomers market consists of sales of elastomers by entities (organizations, sole traders, and partnerships) that are synthetic polymers having elastic properties used in the construction industry.Elastomers are rubbery materials comprised of lengthy chainlike molecules or polymers which can be stretched to vast distances and still return to their original shape.
Elastomers combine the benefits of both plastics and rubber, resulting in a new form that is used in a variety of construction applications. The strong impact and tear resistance of construction elastomers is utilized for roofing sheets and window profiles, building insulation, adhesives, gaskets, and door handle seals.
The main types of construction elastomers are thermoset and thermoplastic.Thermosets are made of elastomeric materials that do not melt when heated.
The main applications of thermoset elastomers in building and construction include adhesives and sealants, thermal insulation, roofing, flooring, piping, bridge structures, cementing, and repair and rehabilitation of civil structures. The different types of chemistry include styrene block copolymers (SBC), thermoplastic polyurethanes (TPU), styrene-butadiene (SBR), ethylene propylene diene monomer (EPDM), natural rubber, acrylic elastomer (ACM), butyl elastomer (IIR), others and is used in various applications such as residential, non-residential, civil engineering.
Asia Pacific was the largest region in the construction elastomers market in 2021.North America was the second-largest market in the construction elastomers market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increase in the demand for sustainable buildings is expected to serve as a major driver of the construction elastomer market in the forecast period.The goal of sustainable construction is to reduce the industry’s environmental effect by implementing sustainable development methods, increasing energy efficiency, and adopting green technologies.
Construction elastomers are environmentally benign, renewable, and secure to use for both residential and non-residential purposes.For instance, according to a survey conducted by the Royal Institution of Chartered Surveyors (RICS) and the World Built Environment Forum in 2021, 55% of respondents said demand for buildings considered ‘green’ or ‘sustainable’ had risen.
In addition, Europe saw the greatest increase in demand, with 69% of respondents reporting higher demand.Even in the Middle East and Africa, where demand growth was the slowest, 39% of respondents said demand had increased.
This will create a significant demand for the construction elastomers and thus will aid the growth of the market.
The increase in investments by key players in the R&D of elastomers processing to improve its properties and development of the new product is a major trend in the construction elastomer market.Major companies operating in the construction elastomers market are focused on investing in research and development to meet customer demand and strengthen their position.
For instance, in January 2020, Mallard Creek Polymers, a US-based producer of styrene acrylic emulsion polymers to the elastomeric roof coatings market launched Rovene 6120, an all-acrylic emulsion polymer for highly durable elastomeric roof coatings adhering to ASTM D 6083. In the same year, MCP acquired third-party confirmation that Rovene 6120 can be prepared to fulfill or surpass ASTM D6083, the Standard Specification for Liquid Applied Acrylic Coating Employed in Roofing.
In December 2021, Pexco LLC, a Georgia-based specialty plastics extruder acquired Performance Elastomers Corporation (PEC) for an undisclosed amount.Through this acquisition, Pexco predicts broadening its silicone and thermoplastic elastomer product lines, as well as widening its abilities to include other high-performance polymer solutions, to provide even more value to their clients in the mobility, recreational vehicle, and truck aftermarkets, as well as enhancing into other businesses where these types of specialized products are needed.
Performance Elastomers Corporation (PEC) is a US-based company that manufactures construction elastomers.
The countries covered in the Construction Elastomers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06244987/?utm_source=GNW
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