The global polymer concrete market was valued at $2.1 billion in 2017 and is estimated to further become $3.4 billion by 2024, at a CAGR of 7.2% during 2018-2024. This market is witnessing significant growth owing to increasing responsiveness concerning the usage of polymers in concrete as it offers multi-tasking and enhanced performance. Extensive spending on maintenance and repair along with rapid growth in infrastructural and developmental accomplishments in growing economies are the major factors driving the growth of polymer concrete market globally.
According to a study, it has been observed that in 2017 in Germany with a cumulative investment amount of $140 billion approximately 180 developmental projects were in a growing phase. Additionally, in India in 2014 the investment of $700 billion was estimated towards urban infrastructure under the “Make in India” initiative. Moreover, these factors are further expected to bolster the growth of polymer concrete market across the globe.
Browse market insight and in-depth TOC on “Polymer Concrete Market – Analysis and Forecast (2014 - 2024)"
The major factors contributing towards the growth of global polymer concrete market include increasing government investments across the world in civil infrastructure projects including railways, roads, water reservoirs, airports, buildings, sewer systems, tunnels, bridges and others are further accentuating the growth of this market. Moreover, extensive investment in developmental projects and rapid escalation in repair and maintenance accomplishments in the civil infrastructure segment is further driving the growth of this market. However, relatively high cost of concrete polymer as compared to that of traditional concrete owing to its premium properties is expected to be the major factor hindering the growth of polymer concrete market across the globe.
The global polymer concrete market has also been segmented by end-user into civil infrastructure, non-residential structure and residential structure. Civil infrastructure is projected to become the largest market owing to several initiatives by the government agencies to upgrade the economy and develop extensive investment in civil infrastructure in developed economies. Furthermore, the accelerating demand for polymer concrete is additionally increasing the demand for polymer concrete in the global market.
On the basis of type, polymer concrete market is segmented into Epoxy, Polyester, Vinyl and Others (Phenolic-Formaldehyde, Acetone-Formaldehyde and Carbamide). In 2017, Epoxy was estimated to be the largest segment due to several enhanced features associated with it such as greater heat resistance; enhanced flexibility and chalking propensity in outdoor acquaintance have accelerated the demand for polymer concrete across the globe.
Geographically, North America has been observing largest revenue in the polymer concrete market. The increasing market revenue is projected towards extensive usage of concrete in maintenance activities in this region. Moreover, Middle East and Africa (MEA) has been contributing second largest revenue share in the polymer concrete market, due to rapid economic progression in the region. Additionally, it has been observed that future mega developmental projects such as Smart City in Qatar and Dubai are bolstering market growth in this region.
Globally industry players are leveraging market growth by replacing the cheap substitutes of products to providing superior quality options for varied ranges of applications across the globe. Some of the major players operating in the global polymer concrete market are Fosroc International Ltd., Dudick Inc., Forte Composites Inc., Crown Polymers Corporation, ACO Severin Ahlmann GmbH & Co. KG, ErgonArmor, BASF SE, BaseTek, Sauereisen Inc., and Sika AG.
Global Polymer Concrete Market Coverage
Class Insight and Forecast 2014 - 2024
• Polymer Modified Concrete
• Polymer Impregnated Concrete
• Polymer Resin Concrete
Type Insight and Forecast 2014 - 2024
Application Insight and Forecast 2014 - 2024
• Containments and Waste Containments
• Pump Bases
• Trench Drain
• Flooring Blocks
End-User Insight and Forecast 2014-2024
• Civil Infrastructure
• Non-Residential Structure
• Residential Structure
Polymer Concrete Market by Region
• Rest of Europe
• Rest of Asia-Pacific
• Rest of Latin America
Middle East and Africa
• Saudi Arabia
• Rest of Middle East and Africa