New York, March 01, 2023 (GLOBE NEWSWIRE) -- The global Polymer Concrete Market is estimated to reach a revenue of US$ 451.3 Million in 2023 and The global market is estimated to reach a revenue of US$ 930.1 Million in 2033. Also The global Polymer Concrete market has projected a value of CAGR of 7.5% from 2023 to 2033.
The global polymer concrete market is expected to witness significant growth over the forecast period. Polymer concrete (PC) can be defined as a construction material consisting of different types of resins and aggregates that are bound together by a polymer binder. The use of this composite material has significantly increased over the past few decades due to its superior properties such as high strength and durability, excellent fire resistance, and reduced maintenance costs. Moreover, it’s also known for its remarkable bond efficiency with steel reinforcements, good wear resistance, low thermal conductivity, reduced environmental impact compared to traditional cementitious concretes and other advantages.
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The increasing demand for polymer concrete in the construction and infrastructure sectors is a major driver of the global polymer concrete market. The growth in the construction sector, especially in developing economies, is driving the demand for polymer concrete due to its superior properties, such as high strength and durability, compared to traditional concrete. Furthermore, the increasing government investments in infrastructure development projects and the growing awareness regarding the advantages of polymer concrete over traditional concrete are also driving the market growth.
The high cost of polymer concrete compared to traditional concrete is a major restraint for the growth of the global polymer concrete market. Additionally, the lack of awareness regarding the properties and advantages of polymer concrete among end-users, especially in developing economies, is also limiting the market growth.
Competitive landscape:
- 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
- Sandmix Sp. z o.o. S.K.
Key manufacturers operating in the market are engaged in product innovation to cater the innovation trends in the market. For instance, a leading manufactures are developing polymer composition to increase strength of lightweight concrete materials. Another manufacturer has developed ready mix polymer concrete to gain competitive edge in the market.
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Polymer concrete can be classified into two major types; polyester PC (PPC) and vinyl ester PC (VPC). PPC is composed of unmodified polyesters and filler like quartz sand or marble powder with or without additives. VPC comprises resins such as epoxy resin which consists of several monomers combined together along with fillers like quartz sand or glass microspheres. Both these types offer different levels of strength, elasticity and durability depending on the concentration of the component used in the mixture.
The increasing demand from the residential construction sector is expected to be a major factor driving the growth of the market over the forecast period. In addition, advancements in technology such as 3D printing have made it possible for polymer concretes to be used in large scale infrastructure projects. Furthermore, their environment-friendly nature also makes them attractive for use in residential buildings as they do not cause any air pollution during manufacturing process unlike conventional cements which release high amounts of carbon dioxide into atmosphere during production stage.
The market is also likely to benefit from increasing government initiatives across developed countries encouraging energy efficient building materials coupled with rising consumer awareness towards sustainable construction materials. Additionally, several countries are focusing on developing specialized products tailored to specific requirements such as fire resistant PC for industrial applications or customized PC based on shade requirements for certain projects requiring specific color schemes etc. This opens up further potential for development opportunities in this space.
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In terms of region, Asia Pacific is expected to emerge as a key regional market due to factors such as rapid urbanization coupled with government initiatives aimed at promoting usage of green building materials in residential construction projects especially in countries like India where population growth has been particularly strong over recent years leading to increased demand for housing units across various cities.
Overall, given its numerous benefits over traditional cement-based concretes and increasing focus on environmentally friendly building materials across various regions around world; Polymer Concrete Market is expected demonstrate impressive growth rate over next few years driven by rising number end user industries including residential constructions & infrastructure projects among others
Market Segmentation:
The global polymer concrete market is segmented based on type, class, application, and region.
- Based on type, the market is segmented into epoxy, polyester, vinyl, and others.
- Based on class, the market is segmented into polymer modified concrete (PMC), polymer impregnated concrete (PIC), and polymer cement concrete (PCC).
- Based on application, the market is segmented into industrial tanks and containments, prefabricated products, building and maintenance, marine works, and others.
- Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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