Global Polymer Concrete Market forecast to reach $757.7m by 2026
The Global polymer concrete market is forecasted to reach USD 757.7 Million by 2026, according to a new report by Reports and Data.
A significant rise in the demand for polymer concretes has been observed in the recent period. The primary contributing factor for the increased demand and market growth of polymer concretes is enhanced performance and mechanical properties of this type of concretes. An integration of factors like the rise in investments on public construction, increase in awareness about high performance of polymer concrete and established upstream players also contributes to the growth of the market.
The change in demands in the construction industry has a significant impact on the growth of the market. It is due to the changing preferences in the construction sector, and its continuous growth, and chemical resistance, due to which construction materials are witnessing high demand in this sector. Such increased demand for chemical resistant construction materials is propelling the growth of the market as polymer concretes are known for its high resistance to chemical attacks.
The rise in government investments on infrastructural projects is another essential factor in boosting the growth of the market. As an instance, by 2025, Indonesia is projected to spend USD 165 Billion on infrastructural projects. Such high investments on infrastructural projects in different nations would play an integral role in the growth of polymer concrete market.
In context to region, North America occupies a significant market position in the polymer concrete market. The expansion of infrastructural, commercial, and industrial projects along with high emphasis on technological advancements and R&D activities are spurring the growth of the market in this region.
- The polymer concrete market held a market share of USD 456.4 Million in the year 2018. The market is expected to grow at a rate of 6.9% during the forecast period.
- In regards to Type, the Epoxy segment generated the highest revenue of USD 146.1 Million in 2018 with the highest CAGR of 7.7% during the forecast period. Traits of this type of polymer concrete-like high resistivity to chemicals, creep resistance, and excellent adhesion are essential factors for its high demand in the construction sector that contributes to the revenue generated by this segment.
- In context to class, the market has been segmented into Polymer Resin Concrete (PC), Polymer Impregnated Concrete (PIC), and Polymer Modified Concrete (PMC). The PMC segment generated the highest revenue of USD 241.9 Million in 2018 with a growth rate of 6.3% during the forecast period. The fact that this class of polymer concrete is required in a limited amount when used in construction purpose and its process technology is similar to conventional cement results in its high demand and associated revenue generated by it.
- In regards to Binding Agent, the market has been bifurcated into Natural agents and Synthetic agents. The Natural Agents segment is projected to witness the higher growth rate of 2.6% during the forecast period, which occupied 19.0% of the market in 2018. The growth rate of this segment is attributed to the rise in awareness about eco-friendly concrete and elevated investments in the construction of green buildings that have increased the demand for this type of binding agent.
- In context to Raw materials, the market has been segmented into Silica, Thermoset Resin, Lime Stone, and Quartz. Among these segments, Thermoset Resin segment occupied the largest market share of 65.0% in 2018 with a CAGR of 7.3% during the forecast period. The extensive application of thermoset resin in the manufacturing of polymer concrete and its applicability as the principal component contributes to the market share of this segment.
- In context to End-users, the Infrastructures segment held the largest market share of 70.0% in 2018 with a CAGR of 7.5% during the forecast period. The rise in government investments on infrastructural projects results in high deployment of polymer concrete in this segment, contributing to its market share.
- In regards to region, North America holds the second-largest market share of 25.0% in 2018 it has the second-highest CAGR of 7.3% during the forecast period. Factors like the expansion of infrastructural, commercial, and industrial projects along with the high emphasis on technological advancements and R&D activities are spurring the growth of the market in this region.
- Key participants include Fosroc, BASF, Wacker Chemie, Bouygues Construction, MAPEI, Sika, ACO Group, Forte Composites Inc, ErgonArmor and Sauereisen, Inc.
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