The global polymer concrete market is estimated at USD 448.1 Million in 2017 and is projected to reach USD 641.9 Million by 2022, at a CAGR of 7.5% between 2017 and 2022.
The market is witnessing growth due to the growing awareness regarding the use of polymers in concrete due to their high performance and multifunctionality. Increase in spending on repair & maintenance and growth in infrastructural activities in emerging economies are some of the factors driving the market for polymer concrete.
Based on class, polymer modified concrete was the largest segment in 2016. Polymer modified concrete is required in less quantity and is cost effective in nature. It has process technology quite similar to the conventional cement concrete which makes it the largest segment in the polymer concrete market.
Based on type, epoxy was the largest segment of the global polymer concrete market in 2016. The large market size of epoxy is due to its great adhesion, high resistivity to chemicals, and appreciable fatigue and creep resistance. It is used for special applications such as industrial flooring, skid-resistant overlays in highways, exterior walls, and resurfacing material for deteriorated areas to give superior finishing. These factors are responsible for making epoxy-based polymer concrete the largest segment by type.
Containments was the largest application of polymer concrete in 2016. Growing industrialization gives a boost to chemical manufacturing industries which uses containments to store fluids. The growth in industrial sector due to high scale economic expansion, especially in Asia Pacific and Middle East & Africa regions, is expected to drive the polymer concrete market for containments.
Based on end-use industry, infrastructure was the largest segment of the polymer concrete market in 2016. Increasing use of polymer concrete in repair & maintenance activities and increase in building & construction operations to support the growing industrialization makes infrastructure the largest end-use industry for the polymer concrete market.
Asia Pacific was the largest market for polymer concrete in 2016. The region's flourishing manufacturing sector, ample availability of labor, competitive cost base, and increasing consumer demand are expected to drive the market for polymer concrete across the region. Furthermore, the influence of macroeconomic stimuli such as population growth, rise in disposable income, and most importantly the increasing investments for building & construction activities in Southeast Asian countries is also expected to make the region one of the most promising markets for polymer concrete.
The global polymer concrete market is witnessing significant growth. Factors restraining and challenging the growth of the polymer concrete market are the higher cost of polymer concrete than the traditional Portland cement concrete, high cost of raw materials used to manufacture polymer concrete, and unstable economic cycles.
BASF (Germany), Sika (Switzerland), Mapei (Italy), Fosroc (UK), and Dow Chemical (US) lead the global polymer concrete market.
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