Global Polymer Concrete Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Increasing demand for eco-friendly concrete among the customers and rising growth of construction industry are the major factors driving the growth of Global Polymer Concrete Market.
Polymer Concrete Market is valued at USD 557.7 Million in 2020 and expected to reach USD 931.9 Million by 2027 with the CAGR of 7.61% over the forecast period.
Polymer concrete is a kind of concrete that utilizes polymer to supplant lime-type cement as a binder. Polymers concrete is established after the polymerization of a monomer or cumulative mixture. In certain instances, the polymer is utilized in supplement to Portland cement to produce polymer modified concrete (PMC) or polymer-cement concrete (PCC). Polymer concretes retains robust adhesive properties, which produce an appropriate solution for restoring both cement and polymer-based cement.
The polymer in this concrete becomes sturdier as compared to its traditional counterpart. The numerous properties of polymer concrete involve high compressive strength, rapid curing, high strength, and chemical resistance, and therefore it is popularly used in several industries. Polymer concrete offers numerous beneficial properties such as flexural, high tensile, and compressive strength. In the later 1950s, polymer concrete was established and developed well recognized in the 1970s for its utilizes in repair, thin overlays and floors, and precast components.
Covid-19 has shown a negative impact on the growth of global polymer concrete market across the globe. Covid-19 crisis brough a lot of problems such as social distancing, lockdown, and curfew which has affected every aspect of life and many industries throughout the world. In the period of lockdown, the construction sectors all over the world was stuck which results in zero production, sales, and demand for the products. Polymer concrete is significantly used in construction sector. As the construction industries was closed due to Covid-19, the manufacturing of polymer concrete eventually decreases.
The Global Polymer Concrete Market is segmented on the basis on material type, binding agent, application, end-users, and region & country level. Based on Material type, the polymer concrete market is classified as polyester, vinyl ester, epoxy polymer concrete, and other. Based on binding agent, the market is categorized as natural resin and synthetic resin. Based on application, the polymer concrete market is classified as solid surface countertops, outdoor seats & benches, waste containers, pump bases, flooring blocks, chemical contaminants, trench drains, and other. Based on end-users, the polymer concrete market is segmented into industrial, residential & municipal, commercial.
The regions covered in this Polymer Concrete market report are North America, Europe, Asia-Pacific, and Rest of the World. Based on country level, the market of Polymer Concrete is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, Southeast Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Global Polymer Concrete market reports cover prominent players like Fort Composites, Inc., ACO Severin Ahlmann GmbH & Co., KG, Bechtel Corporation, BASF SE, Kwik Bond Polymers, Ulma Architectural Solutions, Bouygues SA., Wacker Chemie AG, Interplastic Corporation, Italcementi, and others.
Several factors are contributing to the growth of the polymer concrete market across the world including the adoption of polymer concrete in building and construction industries, surge in spending on repair & maintenance, growth in infrastructural activities in developing economies and increasing consumer demand. The increasing demand for eco-friendly concrete is one of the leading factors driving the growth of the polymer concrete market worldwide over the forecast period. The necessity for environmentally friendly concrete is expanding by the day. For instance; according to the Pennsylvania Aggregates and Concrete Association (PACA), on July 18th, 2019, the materials for eco-friendly concrete substitute around 70% to 80% cement and enhances the durability of the concrete.
According to the producers, eco-friendly concrete can absorb up to 0.6 tons of carbon dioxide, as compared to a ton of conventional concrete which radiates around 0.4 tons of CO2.
In addition, increasing demand for asphalt pavement is another contributor to the growth of the polymer concrete market throughout the world. Asphalt concrete is generally used for airports, surface roads, parking lots, as well as dams. Due to the developments in the construction industry, polymers are combined to modify the viscoelastic performance of asphalt cement.
For instance, according to the International Energy Agency; the global road network length expanded by roughly 12 million lane‐km. Also, the global road traffic activity is projected to be higher than double, to approximately 43 trillion yearly vehicle kilometers, by 2050. Furthermore, the Indian government seeks to build 65,000 km of national highways of USD 742.51 billion by 2022. Thus, increasing demand for asphalt pavement is estimated to foster the growth of the polymer concrete market all over the world during the forthcoming year.
However, lack of awareness about polymer concrete in emerging economies may hamper the growth of the polymer concrete market globally. Despite this, the development of innovative ways of fiber polymer materials is anticipated to generate an enormous opportunity for the further growth of the polymer concrete market.
Geographically, North America is expected to capture the largest share of the global polymer concrete market during the forecast period owing to various factors comprising adoption of polymer concrete, the surge in spending on repair & maintenance and growth in infrastructural activities in this region. The distinct robust construction sectors in the region are a major contributor to the growth of the polymerconcrete market in North America. For instance; the industrial construction augmented by about 4.7%, resulted in healthcare construction at 1.1% in January 2021 compared to December 2020 in the U.S.
Furthermore, healthcare construction is anticipated to grow by over 5% in North America. Construction in the commercial sector is projected to increase by 2%, with office construction, holding the lead at all-around 6%, supported by retail construction at 1%.
Europe is expected to show a significant growth in the global polymer concrete market due to the increasing growth of construction industry in this region. For instance, the total turnover of the extensive construction sector augmented to EUR 579.7 billion in 2018 and the profitability further boosted to EUR 600.7 billion in 2019.
|2015 - 2020
|2021 - 2027
|Market Size in 2020:
|USD 557.7 Million
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2027:
|USD 931.9 Million
|Tables, Charts & Figures:
|Fort Composites, Inc., ACO Severin Ahlmann GmbH & Co., KG, Bechtel Corporation, BASF SE, Kwik Bond Polymers, Ulma Architectural Solutions, Bouygues SA., Wacker Chemie AG, Interplastic Corporation, Italcementi, and others.
|By Material Type, By Binding Agent, By Application, By End-Use
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
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