The global Polymer Concrete Market is estimated to be valued at US$ 795.16 Mn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Polymer concrete is a composite material obtained by combining aggregate, monomer and polymer. It offers advantages such as high strength, resistance to corrosion and chemicals, flexibility and ease of shaping. Polymer concrete finds applications in flooring blocks, pump bases and wastewater structures due to its excellent mechanical and physical properties.
Market key trends:
One of the key trends in the polymer concrete market is the growing adoption of polymer concrete in industrial floors. Polymer concrete is a preferred material for industrial floors due to its high mechanical strength, abrasion and impact resistance properties. It can withstand heavy weights and traffic of forklifts or trucks. The smooth finish of polymer concrete prevents dirt accumulation and makes floor cleaning easier. It is stain, dust and chemical resistant which reduces maintenance costs. Growing construction and manufacturing sectors are expected to drive the demand for polymer concrete in industrial flooring applications over the forecast period.
SWOT Analysis
Strength: Polymer concrete has high durability, corrosion and chemical resistance. It can withstand extreme weather conditions and last up to 50-100 years with minimal maintenance.
Weakness: Polymer concrete has a high initial cost compared to traditional concrete. The manufacturing process requires specialized equipment and skilled labor.
Opportunity: Increasing construction activities of infrastructure such as buildings, roads and bridges is driving the demand for durable and sustainable construction materials. Polymer concrete can be a suitable alternative to traditional concrete in these applications.
Threats: Fluctuating prices of raw materials such as polymers and aggregates can increase the overall cost of polymer concrete. Strong competitive pressure from traditional concrete and asphalt pavement fabricators.
Key Takeaways
The global Polymer Concrete Market Growth is expected to witness high growth, exhibiting CAGR of 7.6% over the forecast period, due to increasing construction activities worldwide.
Regional analysis
North America dominated the global polymer concrete market in 2022 and is expected to continue its dominance over the forecast period. Increasing infrastructure expenditure in the U.S. and Canada is driving the demand for polymer concrete in the region for applications such as highway repairs and flooring. Asia Pacific is expected to be the fastest growing market, owing to rapid urbanization and growing construction industry in major economies such as China and India.
Key players operating in the 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. Key players are focusing on new product launches and expansion strategies to gain higher market share. For instance, in 2022, BASF launched a new polymer concrete overlay system in the U.S. called Renderoc PCO 300 to provide long-lasting repairs for concrete structures.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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