Polymer Concrete Market is Estimated to Witness High Growth Owing to Rising Infrastructure Projects
Polymer concrete is a composite material formed by combining polymers with aggregate materials such as sand and gravel. It has several advantages over Portland cement concrete such as high mechanical strength, corrosion resistance, acid resistance, moisture resistance and low permeability. Polymer concrete is mainly used to provide flooring, pump bases, screeds, drain channels, waste containers and other precast concrete parts. 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.
Market Dynamics:
Rising infrastructure projects: The growth of the polymer concrete market is majorly driven by the rising number of infrastructure projects such as construction of roads, bridges, tunnels and buildings across the globe. Polymer concrete is highly preferred for infrastructure projects due to its high mechanical strength and durability in harsh environmental conditions. It lowers the maintenance cost for infrastructure. According to the Global Infrastructure Hub, nearly US$ 94 trillion needs to be invested globally in infrastructure by 2040. The rising infrastructure development around the world creates significant demand for polymer concrete.
Its high strength and durability: Polymer concrete offers higher strength and durability compared to conventional concrete. It provides lightweight, durable and low maintenance flooring that can withstand extreme weather conditions. Polymer concrete products are chemically resistant to chemicals, oil, grease and common environmental contaminants such as de-icing salts. Its high resistance to corrosion and chemical attack in harsh environments makes it suitable for industrial applications where conventional concrete fails.
SWOT Analysis
Strength:
- Polymer concrete has high mechanical strength and durability which makes it suitable for industrial flooring, heavy-duty structures. It is resistant to chemical attacks, temperature fluctuations, impacts, and abrasion.
- Polymer concrete has longer service life compared to traditional concrete as it is more impenetrable to water and other environmental pollutants. It requires minimal maintenance over the years.
- The material is lightweight and versatile which makes it easy to transport and install. Polymer concrete offers limitless design possibilities as it can be molded or cast into any size or shape.
Weakness:
- Polymer concrete is more expensive compared to traditional concrete as it incorporates additional components like polymers and synthetic resins.
- The processing of polymer concrete requires specialized equipment, skilled labor, and technical expertise compared to normal concrete which increases project costs.
Opportunity:
- Growing infrastructure development projects in regions like Asia Pacific and Middle East provide huge market opportunity for durable and high strength materials like polymer concrete in construction of roads, bridges, buildings, etc.
- Increasing demand for repair and rehabilitation of aging infrastructure opens up opportunities for polymer concrete for repair works requiring long lasting solutions.
- Rising end-use industries like mining, automotive, industrial plants favor non-corrosive and high performance concrete which boosts polymer concrete demand.
Threats:
- Availability of cheaper substitutes like epoxy resin concrete poses threat to polymer concrete market share.
- Strict environmental regulations over use of petroleum-based polymers limit the growth opportunities for polymer concrete market.
Key Takeaways
The global Polymer Concrete Market Growth is expected to witness high growth.
The Asia Pacific region dominates the global polymer concrete market and is expected to maintain its leading position during the forecast period. This can be attributed to rising industrialization and ongoing infrastructure development projects in the region. Countries like China, India, Japan, and South Korea are the major consumers of polymer concrete in this region.
Key players operating in the Polymer Concrete market are Amazon Web Services Inc., Apple, Inc., Electronic Arts, Inc., Google Inc., Intel Corporation, Microsoft Corporation, NVIDIA Corporation, Sony Interactive Entertainment LLC, Ubitus Inc., and others.
For more insights, read- https://www.pressreleasebulletin.com/polymer-concrete-market-trends-size-and-share-analysis/
For more details on the report, Read- https://dailynewsmotion.weebly.com/report-blog/under-the-hood-a-comprehensive-guide-to-the-automotive-parts-remanufacturing-market
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