Polymer concrete is a composite material obtained by adding polymer to a cement sand mixture. Polymer concrete products find wide applications in the construction industry for making flooring material, pump bases, containment structures, sewer structures, etc. due to its beneficial properties such as high strength, chemical resistance, frost resistance, and moisture resistance. The global construction sector has been growing rapidly on account of rising urbanization rates, and increasing investments in infrastructure projects across both developed and developing economies. This rapid growth in the construction industry is expected to drive the demand for polymer concrete products significantly due to their robust characteristics and durability.
The global Polymer Concrete Market is estimated to be valued at US$ 916.03 Bn in 2024 and is expected to exhibit a CAGR of 42.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Rapid Growth in Construction Sector
The construction industry has been witnessing strong growth over the past few years due to rapid urbanization, rising investments in infrastructure projects, and increasing global mega construction projects. According to the Global Construction 2030 report, the global construction output is projected to grow by 85% to US$ 15.5 trillion by 2030. Such robust growth rates in construction spending are expected to significantly augment the demand for polymer concrete due to their beneficial properties and suitability for outdoor construction applications.
Growing Demand from Construction Applications
Polymer concrete finds extensive applications in the construction of industrial flooring, containment structures, sewer structures, effluent treatment plants, and trench drains, owing to its high strength, durability, and resistance to chemicals. The rising repair and maintenance activities of existing infrastructure and surging construction of new commercial and industrial buildings worldwide are propelling the consumption of polymer concrete in various construction applications.
The global polymer concrete market is dominated by the infrastructure segment which accounts for over 35% share of the overall market. Polymer concrete finds wide usage in infrastructure projects like railways, roads and bridges due to its high strength, durability and resistance against water and chemical attacks. It requires very less maintenance and helps reduce the life cycle cost of infrastructure. The industrial flooring segment is another major segment in the polymer concrete market owing to its high usage in manufacturing plants, warehouses and other commercial spaces where high mechanical strength and chemical resistance is required.
Political: Governments across regions are increasingly focusing on infrastructure development and renovating the aging infrastructure which is driving the demand for advanced construction materials like polymer concrete. Economic: Rising economic activities, growing construction spending and industrialization are propelling the growth of end-use industries like infrastructure, industrial flooring etc thereby positively impacting the polymer concrete market. Social: Increasing awareness about the benefits of polymer concrete such as lower life cycle cost, strength and durability is influencing more end-users to adopt polymer concrete over conventional concrete. Technological: Leading players are focusing on developing innovative product variants with improved mechanical and chemical properties through continuous R&D. This is helping polymer concrete gain popularity in diverse applications.
The global Polymer Concrete Market Growth is expected to witness high growth owing to the massive infrastructure development plans underway globally especially in the Asia Pacific region.
The Asia Pacific region currently dominates the global polymer concrete market and is expected to retain its position throughout the forecast period. This can be attributed to the rapidly growing construction and infrastructure development activities in major economies like China and India.
Key players operating in the polymer concrete market are Amazon Web Services Inc., Apple, Inc., Electronic Arts, Inc., Google Inc., Intel Corporation, International Business Machines Corporation, Microsoft Corporation, NVIDIA Corporation, Sony Interactive Entertainment LLC, Ubitus Inc. Key players are focusing on expanding their existing facilities and setting up new manufacturing plants to cater to the rising demand. They are also investing in R&D to develop advanced product variants with better mechanical and chemical resistance properties.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it