Rising Number of Civil Construction Projects Driving Polymer Concrete Market

In 2017, the global polymer concrete market generated $1,975.8 million and is expected to attain $2,964.0 million in 2023, registering a 7.1% CAGR during the forecast period (2018-2023). The market is witnessing growth due to the rise in repair and maintenance activities and increasing civil construction projects. An aggregate mixture which makes use of epoxy binder to harden into place is referred to as polymer concrete. It can be made with various kinds of polymer resins, such as polyester, vinyl-ester, epoxy, and others, which allow concrete to be poured and then harden.

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The increasing number of civil construction projects is a major driving factor of the polymer concrete market. The construction industry creates jobs and channelizes investments and thus plays a significant role in the economic development of a country. Therefore, the governments around the world are increasing their investments in civil construction projects, such as roads, buildings, airports, sewer systems, railways, water reservoirs, bridges, tunnels, and others. For example, in Germany, 189 strategic infrastructure projects were in the developmental phase as of 2017, with a total investment of $129.6 billion.

The rising awareness regarding the high performance of polymer is a key trend being observed in the polymer concrete market. The conventional and existing forms of concrete have several drawbacks, such as high overall mass, high installation time, poor insulating properties, and others, which is creating the need for high performance concrete. Since, polymer concrete exhibits high-performance properties including high tensile strength, high impact resistance, and others, its demand is projected to grow in the coming years.

When end user is taken into consideration, the polymer concrete market is divided into residential structure, civil infrastructure, and non-residential structure. Out of these, the civil infrastructure division dominated the market during the historical period, accounting for a revenue share of more than 55.0% in 2017, and is projected to retain its position during the forecast period. The reason for this is the growing construction of civic infrastructural facilities, such as drainage systems and roads, around the world. The fastest growth is predicted to be witnessed by the non-residential structures during the forecast period.

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Competitive Landscape of Polymer Concrete Market

Some of the key players in the global polymer concrete market are BASF, Sika AG, Fosroc International Ltd., Crown Polymers Corporation, ErgonArmor, Dudick Inc., Sauereisen Inc., and Forte Composites Inc.

Recent Strategic Developments of Major Polymer Concrete Market Players

In recent years, major players in the polymer concrete market have taken several strategic measures, such as product launches and geographical expansions, to gain a competitive edge in the industry. For instance, in November 2017, Sika AG opened its first concrete admixture production plant in Ethiopia. The plant is designed to produce construction materials in various categories, such as admixtures, waterproofing, sealing and bonding, refurbishment, flooring, and roofing.

Moreover, in February 2016, Fosroc International has launched a new joint sealant, Thioflex 555, for maintenance and sealing of joint concrete roads, runways, aprons, and hardstanding areas.

Market Size Breakdown by Segment

Based on Type

Epoxy
Polyester
Vinyl Ester
Based on Class

Polymer Modified Concrete (PMC)
Polymer Resin Concrete (PRC)
Polymer Impregnated Concrete (PIC)
Based on Application

Containments & Waste Containers
Pump Bases
Flooring Blocks
Trench Drains
Based on End User

Civil Infrastructure
Non-Residential Structures
Residential Structures
Geographical Analysis

North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific (APAC)
China
Japan
India
Latin America (LATAM)
Brazil
Mexico
Middle East and Africa (MEA)
Saudi Arabia
U.A.E.

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This release was published on openPR.