According to the report, the global construction films industry generated $8.0 billion in 2020, and is anticipated to generate $14.6 billion by 2030, witnessing a CAGR of 6.3% from 2021 to 2030.
Prime determinants of growth
Growth of the construction industry in the developing countries, rise in construction activities, and increase in government projects drive the growth of the global construction films market. However, Use of non-biodegradable plastic hinders the market growth. On the other hand, increase in demand from the automotive industry presents new opportunities in the coming years.
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- The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global construction films market.
- The pandemic had halted the construction activities around the world and disrupted the supply chain, owing to the implementation of lockdown, especially during the initial phase.
- However, the market is going to recover soon in 2022.
The gas & moisture barrier segment to maintain its leadership status throughout the forecast period
Based on application, the gas & moisture barrier segment held the highest market share in 2020, accounting for more than one-fourth of the global construction films market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 6.3% from 2021 to 2030.
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The residential segment to maintain its lead position during the forecast period
Based on end user, the residential segment accounted for the largest share in 2020, contributing to more than one-third of the global construction films market, and is projected to maintain its lead position during the forecast period. Moreover, the same segment is expected to portray the largest CAGR of 7.4% from 2021 to 2030, due to the rising number of residential construction projects across the globe as a result of the growing population.
Asia-Pacific, followed by North America, to maintain its dominance by 2030
Based on region, Asia-Pacific, followed by North America, held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global construction films market. Moreover, the same region is expected to witness the fastest CAGR of 7.2% during the forecast period, attributed to mass scale infrastructure and massive urbanization in the developing countries of the region.
Leading Market Players
- Berry Global
- Eastman Chemical Company
- E.I. du Pont de Nemours
- Mitsubishi Chemical Corporation
- Raven Industries, Inc.
- RKW SE
- Toray Industries, Inc.
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