Market Overview:
Polymer concrete can be defined as a composite material obtained by mixing aggregate such as silica sand or gravel with a polymer binder. The polymer binder is usually an unsaturated thermosetting resin such as epoxy, methyl methacrylate (MMA), or unsaturated polyester resins. Polymer concrete offers advantages such as high strength and resistance to chemicals and corrosion. It also has the ability to cure at room temperature which reduces construction time. Owing to these properties, polymer concrete finds applications in floors, storage tanks & pipes, and other construction structures subjected to heavy loads or harsh environmental conditions.
The 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.
Market key trends:
One of the key trends in the polymer concrete market is the increasing application of polymer concrete in infrastructure projects. Polymer concrete is increasingly being utilized in the construction of roads, bridges, tunnels, airports and ports due to its strength and durability. It provides high strength, chemical resistance, wear resistance and early strength gain, making it an attractive alternative to concrete in transportation infrastructure projects. The growing investments in infrastructure development globally is expected to drive the demand for polymer concrete during the forecast period. Polymer concrete is also finding increased usage in industrial floors which experience heavy loads of manufacturing equipment and vehicles. Its high load bearing capacity makes it suitable for such industrial applications.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate due to the need for high capital investments and technical expertise in R&D.
Bargaining power of buyers: The bargaining power of buyers is high due to the availability of substitute products like concrete and asphalt.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are numerous raw material suppliers globally.
Threat of new substitutes: The threat of new substitutes is moderate as concrete and asphalt are economical substitutes for polymer concrete.
Competitive rivalry: The competition in the polymer concrete market is high due to the presence of numerous global and regional players.
Key Takeaways
The Global Polymer Concrete Market Size is expected to witness high growth, exhibiting CAGR of 7.6% over the forecast period 2023 to 2030 due to increasing infrastructure development activities worldwide.
Regional analysis: North America dominates the global polymer concrete market, accounting for over 35% of global demand. Asia Pacific is expected to be the fastest growing market for polymer concrete due to growing infrastructure and construction industries in China and India.
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 account for over 30% share of the global polymer concrete market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
