by Market Overview:
Polymer concrete consists of polymers combined with aggregates to form a solid that can be used in place of concrete in various construction applications. It offers benefits such as corrosion and chemical resistance, ease of use, and reduced permeability.
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 key trends:
One of the key trends in the polymer concrete market is growth in infrastructure development projects globally. Various countries are investing heavily in upgrading infrastructure such as roads, buildings, bridges, and more. Polymer concrete is a preferred option in infrastructure projects due to its high strength, durability, and resistance to corrosive environments. This is expected to drive increased demand over the forecast period.
SWOT Analysis
Strength: Polymer concrete has high mechanical strength, durability and resistance to chemicals which makes it suitable for applications requiring resistance to harsh environments. It is waterproof and has low permeability.
Weakness: Polymer concrete has high initial cost compared to traditional concrete. Curing time is also longer.
Opportunity: Growing construction and infrastructure industries are driving the demand for polymer concrete. Its corrosion resistant properties make it suitable for marine, wastewater and other applications.
Threats: Economic slowdowns can negatively impact construction spending and reduce demand. Substitutes like epoxy and vinyl ester resins also pose competition.
Key Takeaways
The Global Polymer Concrete Market Size is expected to witness high growth, exhibiting CAGR of 7.6% over the forecast period, due to increasing investments in infrastructure development across regions. Its durability and strength make it suitable for roads, containment structures applications.
North America dominates the global polymer concrete market currently. Growth in the region is driven by the large construction industry and rising repair & rehabilitation activities of infrastructure in the US. The Asia Pacific region is expected to be the fastest growing market for polymer concrete owing to ongoing infrastructure development projects in countries such as China and India.
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. These companies are focusing on new product launches and enhancing their production capacities to meet the growing demand for polymer concrete globally.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
