The global polymer concrete market is witnessing significant growth due to its unique properties and advantages over regular concrete. The high compressive strength, quick curing, chemical resistance, and high specific strength make it a preferred choice in various sectors such as construction, infrastructure, and industrial applications. As the demand for durable and resilient construction materials increases, the market for polymer concrete is expected to expand further. Moreover, the growing awareness of its benefits and the increasing number of construction activities worldwide are driving its adoption.
According to Data Bridge Market Research, the Global Polymer Concrete Market was USD 578.07 million in 2022 and is expected to reach USD 1,023.32 million by 2030 and is expected to undergo a CAGR of 7.40 % during the forecast period of 2023 to 2030.
“Rise in the number of construction activities worldwide facilitate market growth”
The global polymer concrete market is driven by the rise in the number of construction activities worldwide. Polymer concrete offers various advantages over traditional concrete, such as improved durability, higher strength, and resistance to chemicals and harsh environmental conditions. As construction projects continue to increase in both residential and commercial sectors, the demand for polymer concrete as a reliable and cost-effective construction material grows. Additionally, its applications in infrastructure development, repair and rehabilitation projects, and industrial facilities further contribute to the market's expansion and growth prospects.
What restraints the growth of the global polymer concrete market?
“High cost associated with the product”
The global polymer concrete market is hindered by the high cost associated with the product. Polymer concrete involves the use of specialized materials and advanced manufacturing processes, resulting in higher production costs compared to traditional concrete. This cost factor limits its widespread adoption, especially in price-sensitive markets or large-scale projects. However, advancements in technology and increasing demand for high-performance construction materials may drive innovation and cost optimization in the future, potentially mitigating this restraint and expanding the market's growth opportunities.
Segmentation: Global Polymer Concrete Market
The polymer concretes market is segmented on the basis of class, type, binding agent, application, and end-use industry.
- On the basis of class, the polymer concretes market is segmented into polymer modified concrete (PMC), polymer resin concrete (PC), polymer impregnated concrete (PIC).
- On the basis of type, the polymer concretes market is segmented into epoxy, latex, acrylate, polyester, vinyl, furan, and others.
- On the basis of binding agent, the polymer concretes market is segmented into natural resin, and synthetic resin.
- On the basis of application, the polymer concretes market is segmented into containments, pump bases, waste containers, flooring blocks, trench drains, and others.
- On the basis of end-use industry, the polymer concretes market is segmented into industrial, commercial, residential, and municipal.
Regional Insights: Asia-Pacific dominates the Global Polymer Concrete Market
The Asia-Pacific region holds a dominant position in the polymer concrete market, driven by factors such as the abundance of skilled labor and cost-effective manufacturing processes. Moreover, the increasing investments in construction projects, rising disposable income, and growing population are contributing to the region's fast-paced market growth. These favorable conditions create a conducive environment for the adoption of polymer concrete solutions, further solidifying the region's leading position in the global market.
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Recent Developments in Global Polymer Concrete Market
- In January 2022, German chemical company WACKER launched its Moscow Laboratory as part of the new Innovation Hub for Cement and Concrete. The laboratory's primary focus is on developing innovative additives to enhance the protection of cement and concrete materials against moisture. This initiative aims to improve the durability and performance of cement and concrete products during storage and after application, catering to the construction industry's growing demand for advanced solutions.
The Prominent Key Players Operating in the Global Polymer Concrete Market Include:
- BASF SE (Germany)
- SAINT-GOBAIN (France)
- Axens (Paris)
- SK geo centric Co., Ltd. (South Korea)
- TotalEnergies, Devson Catalyst. (Paris)
- GLOBAL PRECISION BALL AND ROLLER (Texas)
- Dow (Michigan)
Above are the key players covered in the report, to know about more and exhaustive list of global polymer concrete market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Polymer Concrete Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
