Polymer Concrete Market size is anticipated to expand at CAGR of 3.5% between 2023 and 2032. Driven by rapid urbanization and the booming construction sector primarily across the APAC region.
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The significant economic boom in several Asian countries has resulted in the considerable development of infrastructure, including roads, bridges, sewage systems, and industrial facilities. The demand for sustainable and resilient construction solutions has grown critical in quickly growing cities. The increasing popularity of polymer concrete for providing longer service life and lowering the frequency of repairs and replacements will thereby influence the industry growth.
|Forecast Period:||2023 to 2032|
|Forecast Period 2023 to 2032 CAGR:||3.5%|
|Historical Data for:||2018 to 2022|
|No. of Pages:||374|
|Tables, Charts & Figures:||462|
|Segments covered:||Class, Type, Application and Region|
|Growth Drivers:|| |
|Pitfalls & Challenges:|
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The ongoing implementation of several environmental regulations encouraging the use of materials with low environmental impact and longer service life will favor the product adoption. Similarly, the unavailability of essential raw materials may slow down the industry expansion. The production of polymer concrete relies on specific aggregates, resins, and polymers, causing supply chain disruptions or scarcity. Shortages or price fluctuations can hence impact production capabilities, leading to delays and increased costs. Growing efforts by industry players on strategic sourcing, diversification of suppliers, and R&D investments to explore alternative raw materials will favor the market development.
The COVID-19 pandemic placed various challenges on the polymer concrete market growth in 2020 due to supply chain disruptions and the halt of construction activities. The emergence of lockdowns and travel restrictions affected infrastructure projects, impacting the demand for polymer concrete in construction applications. Additionally, the robust need for polymer concrete in water treatment and industrial facilities to offer durability and chemical resistance influenced the product uptake to some extent. The growing government investments in healthcare infrastructure will also prove favorable for the industry expansion.
The escalating demand for sustainable construction materials is another factor driving the market growth. The surging environmental concerns has pushed the construction industry to seek alternatives that offer both performance and eco-friendliness. Polymer concrete not only minimizes material waste and energy consumption over time, but also aligns with sustainable practices, subsequently decreasing the frequency of repairs and replacements. The growing focus of market participants on investing in R&D and focusing on delivering novel solutions will also add to the market growth.
Polymer concrete market size from the polymer modified concrete segment is projected to register gains at nearly 3.5% up to 2032. The growth can be attributed to widespread application in infrastructure projects, such as bridge decks, pavements, industrial floors, and repair to offer superior durability. Moreover, the rising focus of industry participants on providing high-performance and high-quality solutions for variety of applications will positively influence the segment growth.
Polymer concrete market share from the epoxy segment generated substantial revenue in 2022 and is poised to gain significant traction through 2032. The growth is credited to the rising product demand due its suitability for applications requiring high-performance materials, such as industrial flooring, chemical storage tanks, and infrastructure repair. On account of its ability to withstand harsh environments, including corrosive chemicals and heavy traffic, epoxy polymer concrete is widely employed for critical projects. The ongoing infrastructure development projects across emerging economies will also boost segment growth.
Polymer concrete market from the containment application segment is expected to grow at over 4% CAGR through 2032. Industries subject to stringent regulations, particularly chemical manufacturing and petrochemicals, prefer polymer concrete due to its compliance with safety standards. Furthermore, the customization potential of polymer concrete offers tailored solutions for accommodating specific containment needs, contributing to its enhanced appeal. The rising focus on safety, regulatory compliance, and risk mitigation across the industrial sector will also add to the segment growth.
Asia Pacific polymer concrete market held sizable revenue share in 2022 and is set to expand at notable CAGR from 2023 to 2032 due to the robust construction sector along with the increasing investments in transportation, electricity, and water management. Countries, such as China and India are launching massive infrastructure projects, further adding to the demand for durable materials. The rising awareness of sustainability in APAC will support the adoption of polymer concrete.
Some of the leading polymer concrete companies include:
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The above information is provided on a regional and country basis for the following: