As compared to conventional concrete products, polymer concrete products have been observed to display a superior compressive strength as well as impact strength. Moreover, polymer concrete is capable of enduring high-frequency vibrations and can be used for constructing complex shapes. Therefore, use of the polymer concrete in industrial infrastructures such as waste containers, pump bases, industrial flooring blocks, chemical containments and trench drains has grown significantly over the past couple of years. Recently, Future Market Insights (FMI) conducted a study on the global market for polymer concrete and found that production of polymer concrete is likely to grow from 143,620 Tons in 2015 to 328, 0159.9 Tons by the end of 2027.
FMI’s report titled “Polymer Concrete Market : Global Industry Analysis and Opportunity Assessment, 2017-2027″ reveals that currently, the market is valued at around US$ 300.5 Mn and is estimated to exceed US$ 691 Mn by 2027, reflecting a 7.9% CAGR during the forecast period (2017-2027). The market is expected to witness an incremental $ opportunity of US$ 369.9 Mn during the same period on account of the increasing requirement of materials with high durability, chemical resistance and corrosion resistance. On the flip side, lack of product awareness continues to be a major factor, inhibiting the growth of the market.
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Additional Insights from the Report Include:
- Regions such as Europe and North America are already witnessing a widespread adoption of polymer concrete material in the construction application.
- Owing to the low-cost benefit over other resins, polyester continues to be the preferred choice for manufacturing polymer concrete products. By 2017-end, polyester polymer concrete is expected to account for more than 25% market share.
- On the basis of binding agents, synthetic resins hold a major share of the market. Synthetic resins are estimated to account for around 62.4% share of the market by 2017-end. At the same time, demand for natural resin is expected to remain sluggish throughout the forecast period.
- Polymer concrete finds widespread application in building chemical containments and pump bases. Collectively, these two segments account for more than 30% value share of the market.
- In 2017 and beyond, the global polymer concrete market is expected to be massively influenced by further product innovation and new product development.
Manufacturers of polymer concrete have channelized efforts on developing multiple desired properties in their products to gain competitive advantage, such as toughness, durability & long life, extreme chemical resistance and ease of installation of polymer concrete products. FMI in its report has profiled some of the leading companies operating in the global market for polymer concrete, which include ACO Group, Sika AG, BASF SE, and Kwik Bond Polymers LLC.