The global polymer concrete market size is expected to witness significant growth on account of rising penetration of polymer or resin concrete in the construction industry. Increasing efforts by manufacturers and researchers to introduce innovative construction materials for higher durability, strength, and performance is expected to have a positive impact on the industry growth. The product is expected to witness high demand in the construction sector as an aggregate binder over the projected period. Such concretes have the potential to replace Portland cement in new construction, as well as renovation, applications. However, higher costs of polymer concrete as compared to its traditional counterpart is expected to hamper industry growth over the forecast period.
Polymer Concrete possesses strong adhesive properties, which make it a suitable solution for repairing both cement- and polymer-based cement. Polymer in this concrete makes it more durable as compared to the conventional counterpart. The product has the ability to offer high resistance against freezing, abrasions, and chemicals. Furthermore, high compressive and impact strength, which make it suitable for constructing complex structures, are expected to boost the demand further during the forecast period. Commercially, polymer concrete is available in various types including vinyl ester, potassium silicate, furan, and epoxy. Rising product demand in the construction of industrial flooring blocks, pump bases, waste containers, trench drains, and chemical containments is likely to propel growth in the industrial construction sector over the next few years.
The product is also expected to gain high demand from marine works, nuclear power plants, desalination plants, and sewage works. In addition, growing demand in the waterproofing of structures is expected to drive industry further. On the basis of applications, the market for polymer concrete is segmented into containments, pump bases, flooring blocks, wastewater containers, and trench drains. Containments emerged the largest application segment and are likely to continue its dominance over the projected period. Zero water absorption, superior flexural strength, and excellent stability and thermal properties offered by the product is expected to propel its demand in various end-use applications over the projected period. Based on end-use, the market is segmented into residential; commercial, industrial, and infrastructure.
Infrastructure was the largest end-use segment; whereas the noncommercial segment is expected to expand at the fastest CAGR over the forecast period. Asia Pacific is expected to witness the fastest growth, in terms of product demand, over the projected period. The construction industry in this region is expected to outperform on account of rapid urbanization and rising per capita income and population. Emerging economies, such as India, in APAC are anticipated to flourish over the forecast period on account of massive investments by various governments for the development of public infrastructure and the expansion of the residential construction sector. This is also expected to benefit the polymer concrete market in the region.
However, lack of consumer awareness coupled with high product cost is likely to restrain the polymer concrete market growth in the region.
The construction sector in the Middle East & Africa is expected to observe rapid growth in the forecast period owing to factors, such as high investments, expansion of oil production, and improved weather conditions. Increase in government investments in infrastructure development projects in Saudi Arabia, UAE, and Qatar, to boost the economic growth is expected to drive the construction industry. This, in turn, is estimated to augment the demand for polymer concrete over the projected period. Europe was one of the major consumers of polymer concrete in 2017 owing to significant product demand from developed economies including Germany, the U.K., Russia, Italy, and France.
The Europe regional polymer concrete market is expected to benefit from the recovery in the residential and commercial construction sectors in the past few years. High consumer spending capabilities coupled with stringent government regulations for the construction industry in Europe is expected to have a positive impact on market growth. Product demand in North America is expected to witness a considerable rise on account of substantial growth in the single-family housing; multi-family constructions. Launch of programs, such as the National Infrastructure Program and National Housing Commission, by the Mexican government is projected to have a positive impact on the construction sector in North America, thereby boosting product demand.
The U.S. expected to be the leading country in the region due to well-developed infrastructure and high investments in commercial structures. Some of the prominent manufacturers in the global industry include Sika AG; BASF SA; Armorock; Metro Cast Corporation; Polymer Concrete Industries Pty. Ltd.; ACO Group; and Forte Composites, Inc.
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The global construction industry once booming due to the residential and commercial construction in China and the U.S., has been affected by the suspension of the construction activities across the impacted economies. The construction industry in the U.S. is expected to take a major hit due to labor shortages and the lockdown imposed by the government during COVID-19, which is expected to be aggravated by the resulting supply chain issues and financing pressures due to the non-adherence to the completion times. The report will account for Covid19 as a key market contributor.