PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485891
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485891
Polymer Concrete Market size was valued at USD 681.2 Million in 2023, expanding at a CAGR of 5.60% from 2024 to 2032.
Polymer concrete is a substance composed of synthetic organic polymers that serve as binders. This chemical is the result of polymerization of a monomer-aggregate mixture. This polymerized monomer serves as a binder for the aggregates and the final composite. Portland cement is replaced with plastic resin concrete or synthetic resin concrete, which is then combined with a hardening agent, sand, gravel, filter, or quartz powder. The chemical in this material has a variety of qualities, including high bearing strength, high compressive strength, rapid preservation, strong resistance to chemical assaults, abrasion, and low penetrability.
Polymer Concrete Market- Market Dynamics
Polymer Concrete's Strength, Durability, and Chemical Resistance Make it Popular in Infrastructure Projects, Fueling Global Market Growth
The polymer concrete market has seen strong growth in the past few years due to various reasons. A key factor is the growing need for long-lasting and high-quality building materials. Polymer concrete is particularly appealing for infrastructure projects, industrial applications, and harsh environments due to its greater strength, durability, and resistance to chemicals and abrasion when compared to conventional concrete. This has led to an increasing favor for polymer concrete in areas like transportation, wastewater management, and industrial flooring, driving the market growth. Moreover, the increasing investment in global infrastructure development has greatly contributed to the expansion of the polymer concrete market. Governments and private firms are making investments in a range of infrastructure projects, such as roads, bridges, airports, and utilities, that need materials with improved durability and longevity. Polymer concrete is a great option for projects due to its capacity to endure heavy traffic loads, harsh weather conditions, and chemical exposure.
Polymer Concrete Market- Key Insights
Our research analyst estimates that the global market will develop at a CAGR of approximately 5.60% from 2024-2032.
Based on Type segmentation, The polymer resin type was the leading type in 2023.
Based on application segmentation, Flooring blocks were anticipated to display the most market share in the year 2023
Based on End-use Industry segmentation, infrastructure was the primary type in 2023
Based on region, North America was the biggest revenue generator in 2023.
The Global Polymer Concrete Market is segmented by Class, Type, Application, End-Use Industry, and Region.
The market is divided into several categories based on Type: epoxy, Latex, Acylate, Polyester, Vinyl, Furan, and Others. In 2023, the polymer resin concrete segment dominated the market. Polymer resin concrete is widely used in applications that require high strength, chemical resistance, and low permeability. It is applied to industrial floors, structural elements, worktops, and architectural features. The combination of resin and aggregate produces a durable, non-porous material that is resistant to chemicals, stains, and wear.
The market is divided into three categories based on End-Use Industry: Non-residential Structures, Infrastructure and Residential. The infrastructure sector controls the majority of the worldwide market and is expected to grow fast throughout the projected period. The segment is regarded as a key market driver. Polymer concrete provides various benefits to infrastructure projects, including enhanced durability, resilience to extreme environmental conditions, and cheaper maintenance costs. Its superior product properties make it an appealing alternative for infrastructure applications such as highways, bridges, tunnels, and wastewater treatment facilities.
Polymer Concrete Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
North America is the largest region in the Polymer Concrete market share. The construction industry contributes significantly to the US economy. The industry employs more than 7 million people and has over 680,000 employers. It produces over USD 1.3 trillion in construction each year. It is one of the largest users of manufacturing, mining, and a variety of services. The key causes for the industry's rise in this region are increased construction activity, new bridges in Clinton, Beaver, Clearfield, and elsewhere, and expanding road-building activity. In the region, industrial building increased by around 4.7%, followed by hospital construction by 1.1% in January 2023 compared to December 2022.
The Asia-Pacific region is predicted to increase at the fastest rate over the projection period. Reasons in the manufacturing sector, including workforce availability, a competitive cost base, and rising demand, are expected to boost the regional polymer concrete market. Southeast Asian countries are predicted to become one of the second most popular markets for polymer concrete due to the influence of microeconomics, population growth, increases in disposable income, and increased investment in construction activities.
Prominent producers in the intensely competitive polymer concrete market include BASF, Sika, Mapei, and Fosroc. These companies are well known for providing excellent polymer concrete products and services in several industries, including infrastructure, automotive, construction, and the environment. To remain competitive, their key priorities are technological advancement, customer service, competitive pricing, and product quality. They also never stop looking for wise mergers and acquisitions to strengthen their position in the industry and expand the size of their clientele. Increased infrastructure development, the demand for durable, lightweight materials, and the pursuit of ecologically friendly building techniques are all driving market growth.
In November 2023, Sika boosted polymer production for concrete admixtures at its Texas plant, its second investment in the state in five years. This initiative demonstrates Sika's commitment to fulfilling increasing market demand and expanding its footprint in the region's construction industry.
GLOBAL POLYMER CONCRETE MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
BASF (Germany)
Sika (Switzerland)
Mapei (Italy)
Fosroc (UK)
Dow Chemical (US)
SAUEREISEN (US)
Kwik Bond Polymers (US)
Dudick (US)
ErgonArmor (US)
Crown Polymers (US)
Others