Polymer Concrete Market Trends, Business Strategies, Regional Outlook, Challenges and Future Scope

In 2018, the Construction Industry Value Chain report of the International Finance Corporation, which works under the World Bank, had said that more than 75% of the infrastructure needed in 2050 hasn’t even been constructed yet. This reflects a massive growth in the global construction industry in the coming years, which would propel the demand for all kinds of construction chemicals and materials. One of the most-important such materials is concrete, which forms the literal ‘building blocks’ of buildings and other pieces of infrastructure.

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This is why the polymer concrete market size has been projected by P&S Intelligence to rise to $2,964.0 million by 2023 from $1,975.8 million in 2017, at a 7.1% CAGR between 2018 and 2023. This is because with the increasing focus on the safety and durability of structures, conventional concrete is being replaced with polymer concrete. Such material uses a polymer to bind everything together, instead of lime-type cements. The key advantages of polymer concrete are high flexural, compressive, and tensile strength, longer durability with regards to thaw and freeze cycles, strong chemical and corrosion resistance, and good adhesion.

All these types of polymer concrete are utilized in residential and no-residential construction and civil infrastructure. Among these, civil infrastructure is the largest application of such materials, as governments around the world are taking efforts to sustain their growing population. The burgeoning number of people is creating the need for more roads, highways, water utilities including large tanks, drainage and sewer systems, and bridges. Moreover, over time, these structures witness normal wear and tear or that induced by earthquakes and other natural and manmade calamities.

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Presently, North America is the largest polymer concrete market because of the increasing infrastructure repair activities here. All pieces of civil, commercial, industrial, and residential infrastructure are strongly regulated and thoroughly inspected for safety and longevity. As a result, several infrastructure repair projects are underway in the region, along with those involving fresh construction. Moreover, several construction chemical companies operate in the region, which leads to an easy availability of advanced materials, including polymer concrete.

Hence, with the focus shifting to high-performance structures, the demand for polymer concrete will increase.

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About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

This release was published on openPR.