by The Polymer Concrete Market is estimated to be valued at US$ 795.16 Mn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Polymer concrete consists of aggregates bound together by a polymer resin. It offers advantages such as high tensile strength, chemical resistance, and durability over conventional concrete. It is widely used in the construction of infrastructure such as roads, tunnels, bridges, and others due to its high compressive strength. Compared to Portland cement concrete, polymer concrete requires less maintenance and has a longer lifespan, thereby reducing maintenance costs.
Market Dynamics:
The growing construction and infrastructure development activities globally are expected to be a major driver for the polymer concrete market growth over the forecast period. Rapid urbanization in developing economies has increased investments in roads, railways, airports, and other construction projects which in turn is fueling the demand for polymer concrete. Furthermore, polymer concrete requires less maintenance and has superior chemical resistance compared to conventional concrete, thereby reducing the maintenance costs of infrastructure. However, the high initial cost of polymer concrete compared to Portland cement concrete may hamper the market growth.
Segment Analysis
The Polymer Concrete Market is primarily segmented into Countertops & Waste feeds, flooring blocks, concrete fiber, overlays, and others. Among these, the flooring blocks segment dominates the market with the highest share owing to its increased use in the construction of industrial and commercial spaces due to its high abrasion resistance, high compressive strength, crack resistance, corrosion resistance, chemical resistance, and durability features.
PEST Analysis
Political: The government regulations regarding infrastructure development, wastewater systems, mining operations are driving the polymer concrete market growth.
Economic: Rising disposable incomes, increase in construction spending especially in developing countries are fueling the market expansion.
Social: Growing population and rapid urbanization increasing the demand for robust, durable and maintenance-free construction materials.
Technological: Development of new polymer technologies to enhance properties like tensile strength, flexibility are boosting the polymer concrete adoption.
Key Takeaways
The global Polymer Concrete Market Growth is expected to witness high growth, exhibiting CAGR of 7.6% over the forecast period, due to increasing infrastructure development activities across the globe. The Asia Pacific region dominates the market and is expected to witness the fastest growth over the forecast period owing to rapid urbanization and industrialization in countries such as China and India.
Regional analysis
The Asia Pacific region dominated the global polymer concrete market in 2023 with a share of over 35%, with China holding the major market share. This is attributed to factors such increasing construction spending, infrastructure development projects, and expanding wastewater industry in the region. The Asia Pacific region is expected to witness the highest CAGR over the forecast period due to growing population and rising disposable incomes.
Key players
Key players operating in the Polymer Concrete market are 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. BASF SE and Sika AG holds majority of the market share due to their extensive product portfolio and widespread geographical presence across the globe.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
