Polymer concrete is categorized under composite materials that use thermoplastic 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 has higher compressive and impact strength as compared to other types of concretes used in the construction industry. They can be classified into vinyl ester, polyester, epoxy-based & others. Some of the major end-users of polymer concrete are industrial, residential & municipal, and commercial Sectors.
Global polymer concrete market was valued at US$ 686.8 Million in 2021 in terms of revenue, exhibiting a CAGR of 7.6% during the forecast period (2022 to 2030).
Growing demand for polymer concrete in new applications is being driven by its improved properties such as the ability to form complex shapes, brilliant vibration damping, and rapid curing properties, which is fueling the market growth of polymer concrete. Polymer concrete is 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 period.
Polymer concrete market is estimated to grow as it is used more frequently in drainage applications. Polymer concrete offers precision molding and precise finishing, which promotes efficient hydraulic flow, to ensure superior discharge rates of water from the pipe. The aforementioned advantages are projected to fuel demand for polymer concrete across municipal applications. Therefore, rising applications of polymer concrete across the construction industry are expected to augment the market growth.
The COVID- 19 outbreak had a considerable impact on the overall industry growth on account of the shutdown of various manufacturing & industrial facilities along with delays in several infrastructural development projects. However, government relaxations on imposed lockdowns, followed by the resumption of industries and operations have augmented the market growth. Moreover, polymer concrete will experience a surge in demand owing to the expansion of infrastructural buildings and rising construction industry across residential & commercial establishments.
Among region, Europe dominated the global polymer concrete market in 2021, reporting 31.1% market share in terms of revenue, followed by North America and Asia Pacific, respectively.
Figure 1. Global Polymer Concrete Market Value Share (%), By Region, 2021
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 polymer concrete over the forecast period. Also, rising usage of a special type of plastics as a cheaper alternative to polymer concrete that offer the same properties as polymer concrete is further anticipated to hinder the market growth over the forecast period.
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 polymer concrete over the forecast period.
|Base Year:||2021||Market Size in 2021:||US$ 686.8 Mn|
|Historical Data for:||2017-2020||Estimated Year:||2022|
|Forecast Period 2022 to 2030 CAGR:||7.6%||Forecast Period:||2022-2030|
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
|Restraints & Challenges:||
Rising usage of polyester & vinyl ester-based materials in the polymer concrete is projected to serve significant opportunity over the forecast period. Polymer concrete refers to the use of a polymer such as epoxy, polyester or vinyl ester materials for coating, supplement or cement replacement that enhances mechanical and durability properties of concrete. 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 period.
Growing number of research and development initiatives by key players in order to enhance the technical properties of polymer concrete such as compressive and flexural strength, is projected to open a opportunity in market of polymer concrete. Moreover, some new research also suggests that polymer concrete with enhanced mechanical behaviour could be produced by using polyesters. As polyester products are claimed to offer low volume shrinkage, and thus are suitable for manufacturing of polymer concrete.
Figure 2. Global Polymer Concrete Market Value Share (%), By Material Type, 2021
On the basis of material type, in 2021, polyester accounted for the largest market share of 27.9% in terms of revenue, followed by vinyl ester and epoxy based polymer.
Major players operating in the global 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.
Polymer concrete uses synthetic organic polymer as binding agent for mixing of hardening agent, gravel, sand and other construction aggregates. The properties of the polymer concrete mix depend upon various factors such as type, amount, individual properties, and the polymer used. Polymer concrete exhibits different characteristics such as high impact & compression strength, resistance to chemical reactions and low permeability.
Global polymer concrete market has witness a growth in recent years, owing to the surge in growth of transportation and infrastructural activities in emerging economies. As a result of this, demand for polymer concrete in construction industry has increased substantially during the forecast period. . Key players are preferring polymer concrete over conventional cement, owing to the rising demand for construction materials with higher strength, toughness and durability.
Market for polymer concrete is estimated to grow as it is used more frequently in drainage applications. Precision molding and finishing are possible with polymer concrete, ensuring superior water discharge rates from pipes while promoting effective hydraulic flow. It is expected that the aforementioned benefits would increase demand for polymer concrete in municipal applications. Therefore, increasing use of polymer concrete in the construction sector is expected to boost market growth.
The limited use of polymer concrete among those with special needs is due to its high cost when compared to alternative materials. During the forecast period, this factor is expected to restrain the market growth of polymer concrete. Increasing use of a certain kind of plastic as a less expensive substitute for polymer concrete that delivers the same qualities is also expected to restrain market growth during the forecast period.
On the basis of material type, the global polymer concrete market is segmented into polyester, vinyl ester, epoxy based and others. In recent years, demand for polyester based polymer concrete has increased significantly, owing to rising cost of epoxy based concrete. This scenario is anticipated to foster the market growth in forecast period.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section