Polymer concrete possesses some significant advantages over conventional concrete, such as higher compressive strength as well as impact strength. Polymer concrete is much more chemical-resistant and also displays enhanced abrasion resistance. The permeability of polymer concrete is much lower as compared to traditional concrete formulations, thus preventing water leakage- and seepage-related issues in building structures.
Given these unique benefits and technological edge of its product chemistry, polymer concrete is finding increasing adoption in the construction industry, which is a key market driver in the long run. The inherent toughness and chemical properties of polymer resins impart these benefits to polymer concrete, which is stimulating the expansion of the polymer concrete market size.
Polymer Concrete Market Trends
Industrial Applications of Polymer Concrete Gaining Prominence: On the end-use front, the industrial sector has emerged as a prominent end user in the polymer concrete market, apart from its traditional bastion of residential & municipal end-use areas. Key standout features of polymer concrete, such as vibration damping, rapid curing, and ability to be molded into complex shapes are immensely beneficial in industrial settings. Chemical, abrasion, and corrosion resistance are some of the other advantages that make polymer concrete an increasingly preferred choice in industrial facilities.
For instance, chemical, energy utilities, pulp & paper, and metallurgy have come across some of the key industrial sectors that are witnessing growing usage of polymer concrete. Some of the key application areas of polymer concrete for industrial end users include waste containers, pump bases, industrial flooring blocks, chemical containments, and trench drains.
However, residential & municipal end uses continue to generate the single largest chunk of demand for the polymer concrete market. Within the municipal sector, the development of precision molding technologies has led to a spurt in demand for polymer concrete in drainage infrastructure applications. The precise finishing of polymer cement-based drainage structures leads to efficient fluid flow levels, providing higher discharge rates as compared to traditional drainage products.
Advancements & Improvement in Resin Ingredients - Key Focus Areas: Given the comparatively higher cost of polymer concrete as compared to traditional aggregate-based concrete, key companies in the polymer concrete market space are focused on product developments and new advancements, which would drive down costs as well as provide much more benefits to end users. A particular trend witnessed in this light is the usage of orthophtalic polyester resins and special additives to reduce the shrinkage of polymer concrete.
Further, water-soluble polymer-based formulations are increasingly being developed and marketed by the industry, offering them as a much more environmentally-friendly alternative to solvent-based polymer formulations. Low volatile organic content (VOC) emissions of water-based formulations are also gaining favor from regulatory authorities, as they minimize the environmental impact of polymer concrete, proving beneficial for the growth of the polymer concrete market.
Regional Outlook of Polymer Concrete Market
The construction industry in Europe was one of the earliest adopters of polymer concrete after its commercialization, along with North America. End users in these markets continue to preferentially adopt polymer concrete vis-a-vis traditional concrete at a higher rate as compared to end users in developing economies such as Asia, the Middle East, and Latin America. Europe and North America together account for more than half of the polymer concrete market share as far as demand is concerned, on a global level. Western Europe, in particular, is a strong market for polymer concrete, accounting for more than two-third of overall European demand.
The polymer concrete market is still in a comparatively early phase across Asia Pacific, the Middle East & Africa, and Latin America. Fast growing economies in these markets are witnessing significant spending on development of infrastructure and residential as well as commercial construction. This provides a huge opportunity for polymer concrete market participants to make in-roads into these markets.
Polymer Concrete Market: Competitive Analysis
The polymer concrete market is moderately consolidated in nature, with the top ten global manufacturers accounting for nearly two-third of global revenue generation. Tier-1 players accounted for nearly 55% of the revenue share in the global polymer concrete market.
Key participants in the global polymer concrete market include BASF SE, Sika AG, ACO Group, Kwik Bond Polymers LLC, Wacker Chemie AG, Dudick Inc., Sauereisen Inc., Sauereisen Inc., and Hubbell Power Systems Inc., among others.
COVID-19 Impact on Polymer Concrete Market
The COVID-19 pandemic could not have come at a worse time for the polymer concrete market, with chronic stagnation already impacting developed economies. Activities in the construction sector have been hit hard, thereby dwindling the demand for polymer concrete.
However, there is a silver lining of opportunity if industry players are able to break through the threshold of affordability, making polymer concrete much more competitive versus their traditional counterparts in cost-sensitive markets.
The global polymer concrete market is on the verge of a breakout decade, where it can make unprecedented gains into hitherto untapped sectors. Rapid-paced product developments coupled with increasing willingness of end users to try unconventional products would serve the purpose of mainstreaming polymer concrete even further.
Polymer Concrete Market - Scope of the Report
Persistence Market Research (PMR) recently published a report on the global polymer concrete market. The report provides detailed valuation on key market dynamics, such as the drivers, trends, opportunities, and restraints, along with detailed information about the polymer concrete market structure. This market research report presents exclusive facts and figures about how the polymer concrete market will grow over the forecast period of 2020 to 2030.
Key indicators of market background, such as value chain analysis and supply chain, compounded annual growth rate (CAGR), and year-on-year (Y-o-Y) growth of the market are explained in PMR’s study in a comprehensive manner. This information can help readers understand the quantitative development projections of the polymer concrete market over the forecast period.
The study is relevant for stakeholders in the polymer concrete market, as well as manufacturers, distributors, suppliers, and investors, as it can help them understand applicable strategies to grow in the market. Stakeholders, investors, industry experts, researchers, and journalists, as well as business researchers in the polymer concrete market can leverage the information and statistics presented in PMR’s research report.
The report includes facts and figures related to the macro- as well as micro-economic factors that are impacting the growth of the polymer concrete market. The study also offers actionable insights based on the future trends in the polymer concrete market. Furthermore, regional players and new entrants in the polymer concrete market can also use the information presented in this report to make business decisions and gain momentum in the market.
Key Segments of Polymer Concrete Market
PMR’s study on the polymer concrete market is divided into three significant segments- molar ratio, application and region. This report offers comprehensive data and information about the important market dynamics and growth parameters related to these categories.
Key Questions Answered in PMR’s Polymer Concrete Market Report
Polymer Concrete Market: Research Methodology
In PMR’s research report, exclusive research methodology is utilized to conduct comprehensive research on the development of the polymer concrete market, and reach conclusions on the future growth factors of the market. In this research methodology, secondary and primary research is utilized by analysts to ensure the precision and reliability of the conclusions.
Secondary resources are referred to by analysts during the evaluation of the polymer concrete market study, which comprise facts and figures from the World Bank, IMF, US Energy Information Administration, International Energy Agency, local & regional government websites, white papers, trade journals, and external and internal databases. Analysts have thoroughly interviewed several industry experts, such as sales supervisors, sales operation managers, product portfolio managers, senior managers, market intelligence managers, marketing/product managers, engineering managers, and production managers to provide insightful information.
Comprehensive information acquired from primary and secondary resources is validated from companies operating in the polymer concrete market to make PMR’s projections on the growth prospects of the market more accurate and reliable.