Polymer Concrete Market 2017–2027
Polymer concrete is categorized under composite materials that use thermoplastics polymers with an epoxy binder to harden materials in the construction industry. It has water, gravel, and sand as an important ingredient which makes it suitable for the repair of any concrete structure. Polymer concrete have higher compressive and impact strength as compared to other types of concretes used in the construction industry. They can be classified into a vinyl ester, polyester, epoxy-based & others. Some of the major end-user of the polymer concrete are industrial, residential & municipal, and commercial.
The global polymer concrete market is projected to reach US$ 691.8 million by the end of 2027, in terms of revenue, growing at CAGR of 7.9% during the forecast period (2019 to 2027).
Rising demand for polymer concrete across emerging applications due to enhanced properties such as the ability to form complex shapes, brilliant vibration damping, and rapid curing properties is fueling the market growth of polymer concrete. Polymer concrete is now widely used across applications such as pump bases, waste containers, chemical containments, industrial flooring blocks, and trench drains. The aforementioned factors are projected to propel the market growth of polymer concrete over the forecast timeframe.
Increasing application of polymer concrete across the drainage application is expected to fuel the market growth of polymer concrete. Polymer concrete offers precision molding, precise finishing, which promote efficient hydraulic flow, to ensure superior discharge rates of water from the pipe. The aforementioned advantages are projected to fuel the demand for polymer concrete across municipal applications. Therefore, rising application of polymer concrete across the construction industry is expected to augment the market growth.
Regionally, Europe dominated the global polymer concrete market in 2018, reporting 31.1% market share in terms of revenue, followed by North America and Asia-Pacific, respectively.
Figure 1. Global Polymer Concrete Market, Revenue Share (%), By Region, 2018
The high cost of polymer concrete compared to other materials is restricting its application across special needs. This factor is expected to hamper the market growth of concrete polymer over the forecast timeframe. Also, rising usage of a special type of plastics as a cheaper alternative to polymer concrete that offers the same properties as polymer concrete is further anticipated to hinder the market growth over the forecast timeframe.
Lack of awareness regarding the numerous advantages of polymer concrete is expected to impact the market growth of polymer concrete to some extent. Moreover, polymer concrete can be used across an application where there is less consumption of energy and less manpower. This factor is also projected to restrict the market growth of the polymer concrete over the forecast timeframe.
Rising usage of polyester & vinyl ester-based materials in the polymer concrete is projected to serve significant opportunity over the forecast timeframe. Since epoxy-based materials are comparatively more expensive than polyester & vinyl ester-based materials, for this reason, manufacturers mostly prefer polyester & vinyl ester-based materials for the production of polymer concrete. This factor is expected to propel the market growth of polymer concrete over the forecast timeframe.
Growing number of research and development initiatives by companies in order to enhance the technical properties of polymer concrete such as compressive and flexural strength, is projected to open a new door of opportunity to the market of polymer concrete. Moreover, some new research also suggests that polymer concrete with enhanced mechanical behavior could be produced by using polyesters. As polyester products are claimed to offer low volume shrinkage, and thus suitable for manufacturing of polymer concrete.
Figure 2. Global Polymer Concrete Market – Opportunity Analysis
A growing number of mergers and acquisitions among manufacturers to enhance the market presence is projected to propel the market growth of polymer concrete. For instance, in April 2017, integrated building materials vendor Chin Hin Group Bhd (Chin Hin) announced its acquisition of polymer concrete pipe manufacturer Mi Polymer Concrete Pipes Sdn Bhd (Mi Polymer) for around US$ 5.0 million to gain opportunities in the domestic and South-east Asia region.
Expanding the civil construction industry is raising demand for polymer concrete due to its high vibration resistance, high impact strength and excellent bonding properties with materials such as metals that are expected to propel the market growth of polymer concrete. Moreover, rising usage of polymer concrete in repair and maintenance applications instead of rebuilding infrastructure is further anticipated to foster the market growth of polymer concrete over the forecast period.
Figure 3. Global Polymer Concrete Market, Revenue Share (%), By Material Type, in 2018
On the basis of material type, in 2018, polyester accounted the largest market share of 27.9% in terms of revenue, followed by vinyl ester and epoxy based polymer, respectively.
Figure 4. Global Polymer Concrete Market – Value Chain Analysis
Key players active in the global 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 Sp. z o.o. S.K.
Few Recent Developments
- In January 2017, the Construction Chemicals division of BASF Corporation announced the launch of MasterEmaco T 5000, a chemical resistant repair mortar and grout. The product is available in North America.
- In August 2016, the company commissioned a new plant in Sri Lanka to produce concrete admixtures from global Master Builders Solutions brand
- In May 2016, the company established a new concrete admixtures plant in Kharagpur, India. This is the 6th production site for BASF in India.