Construction Resin Market Trends and Forecast
The future of the global construction resin market looks promising with opportunities in the residential and commercial building markets. The global construction resin market is expected to grow with a CAGR of 5.7% from 2024 to 2030. The major drivers for this market are increasing demand for sustainable building materials and rising adoption of resin-based composites in construction applications.
• Lucintel forecasts that novolac is expected to witness the highest growth over the forecast period.
• Within this market, commercial building is expected to witness the higher growth.
• North America is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Construction Resin Market
• United States: Several major resin manufacturers have announced plans to increase production capacity by 20% to meet rising demand from infrastructure projects. The government has allocated $1 billion in grants to incentivize innovation in sustainable resin technologies.
• China: Leading resin producers have launched initiatives to achieve carbon neutrality by 2030, focusing on developing bio-based resins. Government targets include reducing VOC emissions from resin manufacturing by 30% in the next five years.
• Germany: Key players in the resin sector have committed to reducing plastic waste through recycling initiatives, aiming for 50% of resin products to be sourced from recycled materials by 2025. The government has introduced subsidies for companies investing in eco-friendly resin production technologies.
• India: Local resin manufacturers are expanding their product portfolios to include fire-retardant and weather-resistant resins for construction applications. The government aims to increase resin exports by 15% annually and has launched tax incentives for companies investing in resin research and development.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Construction Resin Market by Segment
The study includes a forecast for the global construction resin market by type, application, and region.
Construction Resin Market by Type [Value from 2018 to 2030]:
• Novolac
• Aliphatic
• Glycidylamine
• Others
Construction Resin Market by Application [Value from 2018 to 2030]:
• Residential
• Commercial Building
• Others
Construction Resin Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Construction Resin Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies construction resin companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the construction resin companies profiled in this report include-
• Hexion
• Nan Ya Plastics
• Sanmu
• Kukdo Chemical
• Chang Chun
• Huntsman
• Bluestar
Recent Development in the Construction Resin Market
• BASF SE: BASF has introduced a new line of eco-friendly construction resins aimed at reducing carbon footprint by 30% compared to traditional formulations.
• Sika AG: Sika has launched a high-performance epoxy resin designed for rapid curing in cold temperatures, enhancing construction timelines in adverse weather conditions.
• Dow Chemical Company: Dow has partnered with a leading construction firm to develop resin-based solutions for sustainable modular construction, focusing on durability and recyclability.
• Henkel AG & Co. KGaA: Henkel has announced advancements in hybrid polymer resin technology, providing enhanced bonding strength and weather resistance for construction applications.
• Arkema S.A.: Arkema has unveiled a new range of bio-based polyamide resins derived from renewable sources, catering to the growing demand for sustainable building materials.
Features of the Global Construction Resin Market
Market Size Estimates: Construction resin market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Construction resin market size by type, application, and region in terms of value ($B).
Regional Analysis: Construction resin market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the construction resin market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the construction resin market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for construction resin market?
Answer: The global construction resin market is expected to grow with a CAGR of 5.7% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the construction resin market?
Answer: The major drivers for this market are increasing demand for sustainable building materials and rising adoption of resin-based composites in construction applications.
Q3. What are the major segments for construction resin market?
Answer: The future of the construction resin market looks promising with opportunities in the residential and commercial building markets.
Q4. Who are the key construction resin market companies?
Answer: Some of the key construction resin companies are as follows:
• Hexion
• Nan Ya Plastics
• Sanmu
• Kukdo Chemical
• Chang Chun
• Huntsman
• Bluestar
Q5. Which construction resin market segment will be the largest in future?
Answer: Lucintel forecasts that novolac is expected to witness the highest growth over the forecast period.
Q6. In construction resin market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the construction resin market by type (novolac, aliphatic, glycidylamine, and others), application (residential, commercial building, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Construction Resin Market, Construction Resin Market Size, Construction Resin Market Growth, Construction Resin Market Analysis, Construction Resin Market Report, Construction Resin Market Share, Construction Resin Market Trends, Construction Resin Market Forecast, Construction Resin Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.