Polymer Concrete Market is anticipated to expand at a CAGR of 7.5% during the projected period of 2020-2030
NEW YORK, Oct. 15, 2020 /PRNewswire/ -- The polymer concrete market is stipulated to increase and a noteworthy rate throughout the projected period, owing to an array of factors such as growing adoption of chemical-resistant materials, exceptional mechanical properties, increasing awareness of green construction materials, and shorter installation duration.
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The global polymer concrete market is anticipated to expand at a CAGR of 7.5% during the projected period of 2020-2030, and be valued at US$ 777 Mn by the end of 2030.
Key Takeaways from Polymer Concrete Market Study
-- Polymer concrete, with its superior mechanical and chemical properties
such as bearing strength, compressive & preserving strength, low
penetrability, and cost effectiveness, is projected to gain substantial
traction in the course of the coming decade. As compared to conventional
concrete, the polymer concrete market is expected to witness high volume
sales growth.
-- On account of the predominant properties of polymer concrete, such as
its ability to form complicated shapes, fast curability, and excellent
vibration damping, it is estimated to gain significant traction in
industrial applications.
-- There has been a surge in the adoption of polymer concrete in energy
utilities, pulp and paper, metallurgy, and chemical end-use industries
for flooring applications, waste & waste water containers, trench
drains, and chemical containments.
-- Polymer concrete channels for drainage applications have been finding
attractive market demand growth on account of the precision molding they
are subjected to, coupled with precise finishing, which encourages
efficient hydraulic flow, to ensure superior discharge rates vis-à-vis
equivalent-sized cast-in-place concrete drainage systems. This is
expected to be an emerging trend in the municipal applications of
polymer concrete across regions, over the next few years.
-- Western Europe was the initial adopter of polymer concrete, owing to the
establishment of environmental mandates by regional governments, and
currently holds around one-third market share in the global polymer
concrete market.
-- There has been surplus growth in infrastructural expansion activities
such as transportation infrastructure, bridges, and damns in developing
economies such as China and India. Many Asia Pacific nations are
upgrading and expanding their existing sewage systems, which is expected
to drive demand for polymer concrete.
-- The Middle East, which accounts for around one-fifth of the global
polymer concrete market, sees considerable adoption in building
construction, tunnel liners, countertops in residential applications,
and other similar civic infrastructure.
-- Out of the few growing industries across the world, the construction
sector is one of the key industries to lose maximum momentum due to the
situation created by the COVID-19 pandemic, thereby adversely impacting
the polymer concrete market.
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"Superior performance characteristics over conventional concrete are advocating the use of polymer concrete in various industrial applications," says a PMR analyst.
Polymer Concrete Market Landscape
The global polymer concrete market is stipulated to a moderately consolidated market space, with a handful of players holding around half of the global market share. Tier-1 manufacturers of polymer concrete are focused on developing and extending production technologies and expansion capacities to meet industry demand, which helps reduce environmental impact and follow stringent government regulation standards. In addition, key players are focusing on expanding and establishing new and innovative production facilities across the world. Some of the identified leading manufacturers the global polymer concrete market are BASF SE, Sika AG, ACO Group, and Kwik Bond Polymers LLC, amongst others.
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Polymer Concrete Market: Conclusion
Though the construction industry is one of the majorly hit sectors due to the ongoing COVID-19 pandemic, yet, post containment, the global polymer concrete market is anticipated to witness a growth rate above industry standards. Europe is expected to maintain its dominance in the global market, followed by North America. Polymer concrete manufacturers are modifying their strategies, as end users are preferring cost-effective raw materials for their projects to earn more profits.
Want to Know More?
The global polymer concrete market research authored by Persistence Market Research analysts, offers an exhaustive study on global-, regional-, and country-level analysis. The global polymer concrete market study includes pricing analysis, impact of macro-economic and forecast factors, ten-year market projections, and competition benchmarking. The report also entails company study, market structure analysis, and supply chain. As per PMR's scope, the polymer concrete market has been segmented on the basis of material, end use, binding agent, application, and region.
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