Cast Polymers Market Worth 11.97 Billion USD by 2022
PUNE, India, October 6, 2017 /PRNewswire/ --
According to a new market research report "Cast Polymers Market by Type (Solid Surface, Engineered Stone, Cultured Marble), Material (Alumina Trihydrate, Calcium Carbonate, Resins, Natural Stone/Quartz), End User (Non-Residential, and Residential) and Region - Global Forecast to 2022", published by MarketsandMarkets(TM), the market is projected to grow from USD 9.08 Billion in 2017 to USD 11.97 Billion by 2022, at a CAGR of 5.7% from 2017 to 2022.
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Factors such as advancements in the quality of cast polymers products, innovations in kitchen and bathroom accessories, and growth of the construction industry in the Asia Pacific and Latin American regions are driving the growth of the cast polymers market across the globe.
Based on type, the solid surface segment is projected to lead the cast polymers market during the forecast period, in terms of value.
Based on type, the solid surface segment is estimated to lead the cast polymers market in 2017, in terms of value. The growth of this segment of the market can be attributed to the increasing use of cast polymers in kitchen and bathroom products and accessories from both, residential as well as non-residential sectors. Solid surface is a man-made product, which is usually composed of marble dust, acrylic, or polyester resins and pigments. It is primarily used for seamless countertop installations. Solid surface products are also used for the development of kitchen/bathroom sinks, bathtubs, vanity countertops, bars, reception desks, tables, and wall cladding. These products offer perfect finish similar to that of marble, granite, or other stones. They can be easily cut and processed into finished products.
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Among materials, the alumina trihydrate segment is estimated to lead the cast polymers market, in terms of value.
Based on material, the alumina trihydrate segment is estimated to lead the cast polymers market in 2017, in terms of value. Alumina trihydrate is well-known for its versatility and low cost. It is widely used as a flame retardant. It is non-toxic in nature, halogen-free, and chemically inert. It offers low abrasiveness. Alumina trihydrate is available with different particle sizes and can be used in a wide range of polymers at processing temperatures below 220degree(s) C. It also offers added benefits such as arc and track resistance, acid resistance, and smoke suppression. Alumina trihydrate is the most widely used material for manufacturing cast polymers.
The Asia Pacific cast polymers market is projected to grow at the highest CAGR between 2017 and 2022, in terms of value.
The Asia Pacific region is a highly potential market for cast polymers. The Asia Pacific cast polymers market is projected to grow at the highest CAGR during the forecast period, in terms of value. The growth of the market in the Asia Pacific region can be attributed to the increasing demand for cast polymers from various end-use industries of emerging economies of the region. Rapid industrialization in the Asia Pacific region, coupled with the increased demand for cast polymers from non-residential construction units, such as corporate offices, public toilets, malls and shopping complexes, hospitals, and schools, among others is expected to drive the growth of the Asia Pacific cast polymers market during the forecast period.
The key players operating in the Cast Polymers Market are Breton S.p.A. (Italy), Cosentino S.A. (Spain), Bradley Corporation (US), Caesarstone Ltd. (Israel), Oppein Home Group Inc. (China), The R.J. Marshall Company (US), BLANCO (Germany), Huber Engineered Materials (US), AGCO, Inc. (US), DuPont (US), Compac (Spain), and Kingkonree International Surface Industrial Co., Ltd. (China), among others.
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