July 16, 2024
Polymer Concrete Market

Growing demand in infrastructure projects to fuel growth of Global Polymer Concrete Market

The global Polymer Concrete Market is estimated to be valued at US$ 795.16 Mn or Million in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Polymer concrete is a composite material obtained by mixing aggregate, such as sand, gravel or crushed stone with a polymer resin. It possesses properties like high strength, chemical resistance and durability. These characteristics make it suitable for use in various infrastructure construction projects like buildings, roads, bridges etc. Polymer concrete products are available in varied forms like toppings, overlayment systems, vertical & horizontal repairs etc. The material reduces permeability compared to Portland cement concrete, thereby protecting steel reinforcement from corrosion. Its high early strength facilitates faster construction and return to service compared to traditional concrete. These advantages have increased its adoption in the infrastructure industry.

Market key trends:
One of the key trends in the polymer concrete market is the rising investments in infrastructure development worldwide. Both developed and developing economies are investing heavily in upgrading transport networks, building new roads, bridges, airports etc. to boost economic growth. For example, the US government’s Infrastructure Investment and Jobs Act plans to spend $1.2 trillion over 5 years to modernize infrastructure. Similarly, China’s Belt and Road Initiative involves huge investments in rail, road and port projects across Asian and African countries. The growing infrastructure spending is expected to drive demand for advanced construction materials like polymer concrete offering durability and strength. Another major trend is the increasing R&D towards developing eco-friendly and sustainable polymer concrete compositions. Various research initiatives are exploring the potential of incorporating recycled polymers, fly ash and other industrial wastes into polymer concrete mixes to reduce environment impact.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the polymer concrete market requires heavy capital investments and R&D spending for product innovation. Companies need to achieve economies of scale to compete at low prices with established players.
Bargaining power of buyers: The bargaining power of buyers is high since polymer concrete is available from several domestic and global manufacturers. Buyers can exert pressure on prices through competition among existing players.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials for polymer concrete production such as resins, aggregates and admixtures are highly specialized. However, switching costs from one supplier to another are low.
Threat of new substitutes: The threat of substitutes is low as concrete polymer offers better mechanical strength, chemical resistance and durability compared to traditional cement concrete. New material development takes significant time and capital investments.
Competitive rivalry: The competitive rivalry in the market is high due to the presence of numerous global and regional companies offering similar material properties at competitive prices. Players differentiate through innovation, new applications and quality.

Key Takeaways
The global Polymer Concrete Market Growth is expected to witness high growth, exhibiting CAGR of 7.6% over the forecast period, due to increasing infrastructure development and repair activities.

Regional analysis: The Asia Pacific region dominated the global polymer concrete market in 2023 and is expected to continue its dominance during the forecast period. Presence of emerging economies like China and India experiencing strong growth in construction activities is supporting the high demand.

Key players: Key players operating in the polymer concrete market include BASF SE, Sika AG, Wacker Chemie AG, Dudick Inc., ACO Group, Kwik Bond Polymers LLC, Sauereisen Inc., Hubbell Power Systems Inc., Forte Composites, Inc., Ulma – Architectural Solutions, and Sandmix. BASF SE offers an extensive portfolio of polymer concrete materials for construction, infrastructure and industrial applications.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it