Coherent Market Insights

Polymer Concrete Market to surpass US$ 1,441.7 Mn by 2031

Polymer Concrete Market to surpass US$ 1,441.7 Mn by 2031 - Coherent Market Insights

Publish In: May 24, 2024

The polymer concrete market is estimated to be valued at USD 857.7 Mn in 2024, exhibiting a CAGR of 7.7% over the forecast period (2024-2031). Furthermore, the increasing demand for sustainable construction materials is also fueling the market growth.

The global polymer concrete market is primarily driven by growing infrastructure investment across major countries and rapid urbanization which is boosting the construction industry worldwide. According to United Nations estimates, over 70% of the world population is expected to live in urban areas by 2050 which is boosting the construction of residential and non-residential buildings. This increasing construction activities is generating high demand for sustainable and durable construction materials like polymer concrete.

Additionally, growing awareness regarding eco-friendly construction materials is another key factor propelling the polymer concrete market. Polymer concrete offers benefits like water resistance, corrosion resistance, and freeze-thaw resistance, making it suitable for applications in infrastructure development projects. The material helps in reducing CO2 emissions as its production process is energy efficient. Rising environmental concerns are making governments and construction players adopt green construction techniques, boosting the polymer concrete market growth.

Expanding Infrastructure Projects Drive Growth in the Polymer Concrete Market

The growth of infrastructure projects across the globe is one of the major drivers for the polymer concrete market. Governments in developed as well as developing nations are investing heavily in building new roads, bridges, tunnels, and other infrastructure to improve connectivity and mobility. Polymer concrete finds extensive application in the construction of bridges, tunnels, railways, and other infrastructure due to its durability, strength, and corrosion resistance properties. It reduces the need for repairs and maintenance over the lifespan of the infrastructure project. The rising infrastructure spending is expected to spur the demand for polymer concrete in the coming years.

Increased Usage in Flooring Applications Boosts Polymer Concrete Adoption

Polymer concrete is increasingly being used in industrial and commercial flooring applications due to its high strength and durability. Its non-porous surface makes it easy to clean and maintain. Properties like resistance to corrosion, oils, chemicals, and wear & tear make it suited for high-traffic industrial floors that are exposed to harsh chemicals and industrial machinery. It is a cost-effective alternative to traditional concrete flooring. The growing demand for polymer concrete from the flooring industry, especially in manufacturing plants, warehouses, and airports is fueling market growth.

Availability of Substitute Materials Hampers Market Growth

The availability of substitute materials that can perform similar functions as polymer concrete poses a challenge to its growth. Materials like epoxy resin mortar and micro-concrete are used in flooring and overlays and offer competing properties. Epoxy resin mortars have higher tensile and flexural strength compared to polymer concrete. They require lower curing time as well. Similarly, for infrastructure projects, fiber-reinforced concrete and Engineered Cementitious Composite offer substitutes. The easy availability and competitive pricing of these alternative materials restrain the demand for polymer concrete to some extent.

Stringent Environmental Regulations Limit Market Expansion

Growing environmental regulations around the world regarding the use of toxic raw materials is a hindrance for the polymer concrete market. The resins and polymers used in its production contain Volatile Organic Compounds (VOCs) that release harmful emissions. Their production and usage are regulated in many regions through restrictions on VOC content. Also, polymer concrete producers face challenges regarding the disposal and recycling of waste material. Meeting stringent environmental norms increases production costs. Upgrading formulations to use eco-friendly resins requires investment that small players may not be able to bear. Therefore, environmental regulations act as a restraint.

Rise of Green Buildings Increases Opportunities

The rapid growth in green building and sustainable construction projects worldwide offers significant opportunities for polymer concrete manufacturers. Green builders prefer materials that have properties like durability and reduced maintenance needs over the long run. Polymer concrete fits their requirements well due to its long lifespan, corrosion resistance, water resistance, and crack resistance features that minimize the need for repairs and replacements. It contributes to achieving credentials like LEED certification. Catering to this fast-growing green building segment can boost the polymer concrete demand.

Infrastructure Revamp in Developing Nations Expands Scope

Developing countries in regions like Asia Pacific, Latin America, and Africa are revamping decades-old infrastructure with private and government investment. They offer huge untapped markets for polymer concrete companies. The materials ecosystem in these developing markets is still evolving, giving new participants opportunities. Local producers are also setting up manufacturing capacity. Therefore, the mass infrastructure overhaul in developing economies presents an expansive opportunity for polymer concrete manufacturers to participate in these large-scale projects and cement their presence for the long term.

Link: https://www.coherentmarketinsights.com/market-insight/polymer-concrete-market-3386

Key Developments

  • In March 2024, Sika, a leading global specialty chemicals company, announced the acquisition of an infrastructure refurbishment company based in the United States. This strategic move strengthens Sika's position in the growing infrastructure repair and maintenance market in North America.
  • In November 2023, Sika, a leading global specialty chemicals company, announced the expansion of its polymer production capacity for concrete admixtures at its facility located in Texas, United States. This strategic investment aims to meet the growing demand for high-performance concrete admixtures in the North American market
  • In January 2022, WACKER, a prominent Germany-based chemical company, inaugurated the Moscow Laboratory dedicated to cement and concrete additives as part of its new Innovation Hub for Cement and Concrete. The primary focus of this laboratory facility is to enhance the protection of cement and concrete materials against moisture, both during storage and post-application stages.
  • In 2020, CEMEX, a leading global building materials company, launched its first carbon neutral concrete product, marking a significant milestone in the company's sustainability efforts and its commitment to reducing the carbon footprint of the construction industry.

Key Players

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, Sandmix., CUMI Prodorite & Composite, Mcon Rasayan Pvt. Ltd., and Romtec Utilities

Need a Custom Report?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports


Want to Buy a Report but have a Limited Budget?

We help clients to procure the report or sections of the report at their budgeted price. Kindly click on the below to avail


Logo

Reliability and Reputation

ESOMAR
DUNS Registered
Clutch
DMCA Protected

9001:2015

Reliability and Reputation

27001:2022

Reliability and Reputation

EXISTING CLIENTELE

Created billion dollars of revenue impact on thousands of clients

trusted clients logo
© 2024 Coherent Market Insights Pvt Ltd. All Rights Reserved.