Burlingame, Sept. 07, 2023 (GLOBE NEWSWIRE) -- The global Polymer Concrete Market size was valued at US$ 686.8 Million in 2021, exhibiting a compound annual growth rate (CAGR) of 7.9% from 2023 to 2030, according to a new study conducted by Coherent Market Insights, Inc. Rapid urbanization is a key factor fuelling polymer concrete market expansion. Polymer concrete is produced after the polymerization of a monomer or aggregate mixture. The produced polymer is used as a binder and is mixed with the aggregate mixture. It has fast curing, high specific strength, high compressive strength, and chemical resistance, and thus it is ideal for building and construction industry.
Key Industry Insights & Findings from the report:
In March 2023, SLB has launched EcoShield, a geopolymer-based well cement product. The company, also known as Schlumberger, says that the product cuts out up to 85% of embodied CO2 emissions compared with conventional well cementing systems because it does not use ordinary Portland cement (OPC).
Global polymer concrete market is expected to exhibit a CAGR of 7.9% during the forecast period, owing to growing infrastructure development, rapid urbanization, increasing application of polymer concrete in drainage application.
On the basis of Material Type, Polyester segment is expected to hold a dominant position, owing to the fact that they are more afforadable than epoxy-based materials.
On the basis of Binding Agent, Synthetic Resin segment is expected to hold a dominant position, as they are easily available and are much cheaper.
On the basis of Application, pump bases segment is expected to hold a dominant position, owing to their higher compressive and impact strength.
On the basis of End User, Residential & Municipal segment is expected to hold a dominant position, owing to their precision molding and precise finishing. This property promotes effective hydraulic flow, to ensure more discharge rates of water from the pipe
On the basis of region, Asia Pacific is expected to hold a dominant position over the forecast period, due to increasing investment in infrastructure development coupled with the growing focus on smart cities projects.
Key players operating in the global polymer concrete market include BASF SE, Sika AG, Wacker Chemie AG, Dudick Inc., ACO Group, Kwik Bond Polymers LLC, Sauereisen Inc., Hubbell Power Systems Inc., Forte Composites, Inc., Ulma - Architectural Solutions, and Sandmix
Read full market research report, "Polymer Concrete Market, by Material Type, by Application, by End User And By Geography, Market Size & Share Analysis - Growth Trends & Forecasts, 2023-2030", published by Coherent Market Insights.
Polymer Concrete Market Report Coverage
| Report Attribute | Details |
| Market size value in 2022 | US$ 686.8 million |
| Forecast Period: | 2022 to 2030 |
| Growth rate | CAGR of 7.9% from 2022 to 2030 |
| Base year for estimation | 2021 |
| Historical data | 2017 - 2020 |
| Forecast period | 2022 - 2030 |
Key Trends and Analysis of the Global Polymer Concrete Market:
Polymer concrete is witnessing strong demand from emerging applications such as waste containers, pump bases, industrial flooring blocks, chemical containments, and trench drains. This is attributed to their enhanced properties such as the ability to create complex shapes, brilliant vibration damping, and high curing properties,
Market Drivers:
Rapid urbanization has led to the development of infrastructure worldwide. Government across developing countries are increasing investment to increase the infrastructure development. For instance, in budget 2023-24, capital investment outlay for infrastructure is being increased by 33% to Rs.10 lakh crore (US$ 122 billion), which would be 3.3 per cent of GDP. As per the Union Budget 2023-24, a capital outlay of Rs. 2.40 lakh crore (US$ 29 billion) has been provided for the Railways, which is the highest ever outlay and about 9 times the outlay made in 2013-14.
Growing research and development activities in the field is expected to positively shape the market growth. Key players are investing heaviliy in the research and development activities in order to develop product with improved properties such as compressive and flexural strength.
Market Opportunities:
Government across developing countries are taking initiatives for smart cities projects. This will open new avenue for polymer concrete market growth. The Smart Cities Mission was launched in India on June 25, 2015. The project aims to improve the quality of life for people living in India and drive economic growth. Almost 31% of the population of India lives in cities, and they contribute 63% of the GDP, as per the data collected in Census 2011. By 2030, around 40% of India's will be living in cities and contribute 75% to the GDP.
Market Restrain:
There is a lack of awareness regarding the advantages of polymer concrete across developing countries. This factor is limiting adoption of polymer conceret, thereby hampering market growth.
Detailed Segmentation:
- Global Polymer Concrete Market, By Material Type:
- Polyester
- Vinyl Ester
- Epoxy Based
- Others
- Global Polymer Concrete Market, By Binding Agent :
- Natural Resin
- Synthetic Resin
- Global Polymer Concrete Market, By Application:
- Solid Surface Countertops
- Outdoor Seats & Benches
- Waste Containers
- Pump Bases
- Flooring Blocks
- Chemical Containments
- Trench Drains
- Others
- Global Polymer Concrete Market, By End User:
- Industrial
- Residential & Municipal
- Commercial
- Global Polymer Concrete Market, By Region:
- North America
- U.S.
- Canada
- Europe
- Germany
- Italy
- U.K.
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- Australia
- India
- ASEAN
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- Israel
- South Africa
- Rest of Middle East & Africa
- North America
Company Profiles:
- BASF SE
- Sika AG
- Wacker Chemie AG
- Dudick Inc.
- ACO Group
- Kwik Bond Polymers LLC
- Sauereisen Inc.
- Hubbell Power Systems Inc.
- Forte Composites Inc.
- Ulma - Architectural Solutions
- Sandmix.
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