Polymer Concrete is a composite material obtained by adding a polymer to a cement and aggregate mix. It can be used as an alternative to concrete in making floors, sidewalks, roads and other civil infrastructure projects due to its properties like high mechanical strength, low porosity and resistance to chemicals. It provides higher compressive and flexural strengths compared to conventional concrete. Unlike concrete it does not crack and provides resistance to water intrusion. This leads to lower maintenance costs and a longer service life of structures made using polymer concrete. Its light weight also reduces burden on structures. Growing infrastructure development activities across the globe for roads, dams, bridges etc. provides immense opportunities for usage of polymer concrete.
The Global Polymer Concrete Market is estimated to be valued at US$ 916.03 Bn in 2024 and is expected to exhibit a CAGR of 42% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Polymer Concrete Market Growth are Amazon Web Services Inc., Apple, Inc., Electronic Arts, Inc., Google Inc., Intel Corporation, International Business Machines Corporation, Microsoft Corporation, NVIDIA Corporation, Sony Interactive Entertainment LLC, Ubitus Inc., and others.
There is a growing demand for polymer concrete due to increasing road construction and maintenance activities globally. Its unique properties make it very suitable for making durable roads that requires very less maintenance over lifetime.
Polymer concrete technology is witnessing several innovations. Researchers are developing new polymer resin systems that can improve mechanical strengths and crack resistance abilities of polymer concrete. Additives are enhancing durability, UV resistance and other qualities.
Market Trends
Concrete production is a major contributor to greenhouse gas emissions. Polymer concrete has lower carbon footprint compared to ordinary concrete as it uses less cement. This is driving many infrastructure developers and government agencies to prefer polymer concrete over normal concrete in their green building initiatives.
Recycled polymers from plastic waste are increasingly being used in making polymer concrete mixes. This helps utilization of plastic waste and makes polymer concrete even more environment friendly.
Market Opportunities
There is a scope for wider application of polymer concrete in precast construction panels, noise barriers and acid resistant floorings owing to its superior mechanical properties.
Countries in the Asia Pacific are investing heavily in transport infrastructure. This provides significant growth opportunities for polymer concrete market in highway, road and railway track construction.
COVID-19 impact on Polymer Concrete market growth:
The COVID-19 pandemic has significantly impacted the global Polymer Concrete market. During the initial phase of the pandemic, nationwide lockdowns imposed supply chain disruptions and halted construction activities. This led to a steep decline in the demand for Polymer Concrete in 2020. However, post lockdowns various infrastructure development projects were resumed adhering to social distancing norms which provided some relief. But challenges remain in terms of project delays, cost overruns and raw material price fluctuations.
The Polymer Concrete market is gradually recovering from Q2 and Q3 of 2020. While projects in residential and commercial sectors are still facing delays, infrastructure projects related to roads, bridges, airports etc. are witnessing moderate growth. There is increased focus on improving infrastructure to boost economic revival. Polymer Concrete finds key applications in construction of flooring, repair works etc. Long term strategies include reducing dependencies on imported raw materials, investing in local manufacturing and research to develop sustainable Polymer Concrete products. Diversifying end use applications would also aid market recovery.
Geographical regions with major Polymer Concrete demand:
Asia Pacific region accounts for the largest market share in terms of value for Polymer Concrete globally. This is attributed to large scale infrastructure development activities in countries like China and India. China alone contributes over 35% of global Polymer Concrete demand driven by government investments in highways, metros, railways etc. North America follows Asia Pacific in terms of market size led by the US where applications include repair and rehabilitation of aging structures. Europe remains an important market led by demand from Germany, UK and France supported by initiatives to modernize transportation systems.
Fastest growing region for Polymer Concrete:
Middle East and Africa is projected to be the fastest growing regional market during the forecast period driven by ongoing massive infrastructure initiatives. Several countries are investing billions of dollars to develop roads, commercial real estate and transportation infrastructure using sustainable construction materials. Countries like Saudi Arabia, UAE are demonstrating high growth supported by projects such as rail networks, airports and smart cities coming up. Initiatives like Expo 2020 in Dubai are also fueling demand for Polymer Concrete for flooring, precast elements etc.
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