Market Overview:
The global Polymer Concrete Market is estimated to be valued at US$ 686.8 million in 2021 and is projected to reach US$ (incorporate given market value for 2022) billion/million by 2022, exhibiting a CAGR of 7.6% (incorporate given forecast period). Polymer concrete is a type of composite material that is made by blending a thermosetting polymer resin with aggregates, such as sand, gravel, or crushed stone. It offers several advantages, including high compressive strength, excellent chemical resistance, and low permeability. These properties make it suitable for various applications in the construction and infrastructure sectors, such as in the manufacturing of pipes, tanks, sanitary sewers, bridge decks, and industrial flooring. The increasing investment in infrastructure development and the growing demand for durable and sustainable construction materials are driving the growth of the global polymer concrete market.
Market Key Trends:
One key trend in the polymer concrete market is the adoption of sustainable and eco-friendly materials. As environmental concerns continue to rise, there is a growing demand for construction materials that have a lower carbon footprint and are recyclable. Polymer concrete offers a sustainable alternative to traditional concrete, as it can be manufactured using recycled materials and produces less waste during the production process. Additionally, its durability and resistance to corrosion and weathering reduce the need for frequent maintenance and repairs, further contributing to its sustainability. The increasing focus on sustainable construction practices and the implementation of stringent environmental regulations are expected to drive the adoption of polymer concrete in the coming years.
Segment Analysis:
The Polymer Concrete Market can be segmented based on type, application, and end-use industry.
In terms of type, the market can be divided into epoxy, polyester, vinyl ester, and others. Among these, epoxy polymer concrete is the dominating sub-segment and is expected to witness significant growth during the forecast period. Epoxy polymer concrete offers high strength, excellent resistance to chemicals and moisture, and superior durability. These properties make it suitable for various applications such as industrial flooring, wastewater treatment plants, and bridge structures. The increasing demand for epoxy polymer concrete in infrastructure development projects and the growing focus on sustainable construction practices are driving its market growth.
Based on application, the market can be categorized into containment tanks, industrial flooring, pump bases, waste containers, trench drains, and others. Industrial flooring is the dominating segment and is anticipated to experience substantial growth in the coming years. Industrial flooring made from polymer concrete offers several advantages such as high load-bearing capacity, resistance to heavy machinery and chemicals, easy maintenance, and long life span. The rapid industrialization and increasing investment in commercial and manufacturing sectors across the globe are contributing to the dominance of this segment.
Key Takeaways:
The global Polymer Concrete Market Share is expected to witness high growth, exhibiting a CAGR of 7.6% over the forecast period from 2022 to 2030. This growth can be attributed to several factors. Firstly, the increasing demand for sustainable construction materials and the implementation of green building regulations are driving the market. Polymer concrete offers superior properties such as high strength, durability, and resistance to chemicals and moisture, making it an ideal choice for sustainable construction practices.
In terms of regional analysis, North America is the fastest-growing and dominating region in the polymer concrete market. This growth can be attributed to the significant investment in infrastructure development, especially in the United States. The growing demand for polymer concrete in various applications such as industrial flooring, transportation infrastructure, and wastewater treatment facilities is fueling the market growth in this region.
Key players operating in the 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. These key players are actively involved in product development, mergers and acquisitions, and strategic partnerships to expand their market presence and cater to the increasing demand for polymer concrete globally.
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