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.
Polymer concrete is a composite material consisting of aggregate, organic polymer binder, and monomers. It has advantages over concrete such as superior chemical resistance, low shrinkage, crack resistance, and durability. These properties make polymer concrete suitable for applications in civil infrastructure, architectural structures, industrial floors, and waste containment.
Market key trends:
One of the major trends driving the growth of the polymer concrete market is its increasing use in civil infrastructure development projects. Polymer concrete has better strength, durability and resistance to chemicals, which make it suitable material for construction of roads, bridges, tunnels, and other civil structures that are exposed to harsh weather conditions and chemicals. Its usage reduces the need for frequent repair and maintenance of civil infrastructure. Thus, the growing investments in development and repair of civil infrastructure around the world are fueling the demand for polymer concrete.
The global polymer concrete market is segmented based on the type of binding agent, end-use industry and region. Based on the type of binding agent, polymer concrete is segmented into epoxy, latex, acrylate and vinyl. The epoxy resin segment dominates the global polymer concrete market owing to its high chemical and heat resistance properties. It is widely preferred for industrial flooring, containment areas, waste management, and precast piping applications due to its high strength and durability.
The global Polymer Concrete Market Growth is expected to witness high growth, exhibiting a CAGR of 7.6% over the forecast period, due to increasing infrastructure development activities across the globe.
Regional analysis - Regionally, Asia Pacific dominates the global polymer concrete market and is expected to maintain its leading position over the forecast period as well. Rapid infrastructure development and construction activities in China, India, and other Asian countries are driving the polymer concrete market growth in the region.
Key players - Key players operating in the polymer concrete market are 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. BASF SE and Sika AG capture a significant share of the global market owing to their strong distribution network and wide product portfolio.