The global polymer concrete market size is projected to reach $2.9 billion by 2023, growing at a CAGR of 7.1% between 2018-2023. The growth of the polymer concrete industry is mainly driven by the growing investment in civil construction projects and increase in repair and maintenance activities across the globe.In terms of type, the polymer concrete market is segmented into epoxy, polyester, and vinyl ester polymer concrete. Epoxy polymer concrete is estimated to be the largest category in the worldwide market, both in terms of volume and value, in 2017. The largest share of epoxy polymer concrete is attributed to its increasing use in construction activities due to its various properties such as high impact strength, high vibration resistance, good bond to concrete and metal surfaces, and others.
In terms of class, the polymer concrete market is segmented into PMC, PRC, and PIC. PMC is estimated to be the largest category in the global market, both in terms of volume and value in 2017. The largest use of PMC is attributed to its low-cost advantage over other classes, as the quantity of polymer required for PMC is comparatively small.
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The increasing use of polymeric material for repair and maintenance activities in the infrastructure sector is driving the growth of the polymer concrete market. For example, emergency repairs of airport runways are very disruptive for airport operations; rapid patch polymer concrete assures the repair in a very short time. It is used in a variety of applications including nuclear power plants, kerbstones, roads, marine works, waterproofing of buildings, and others. The major advantages of thawing, high resistance to chemical attack and abrasion, low permeability, high impact resistance, and others are contributing to the growing demand of polymer concrete for repair and maintenance activities; thus, boosting the overall growth of the market.
The construction market of MEA is one of the major key indicators of the region’s economic development. The MEA construction industry is expected to remain healthy in the coming years. For instance, the U.A.E. construction market projects a promising future, owing to the upcoming mega events such as Dubai Expo 2020 and others. Due to such various events in different Middle East countries, the region is expected to witness increase in infrastructure demand, which in turn would fuel the demand of polymer concrete. MEA is estimated to be the third largest polymer concrete market in the world, both in terms of volume and value respectively, in 2017. MEA’s construction sector is one of the most attractive markets driven by various economic and demographics requirements such as growing population, increasing urbanization, and others.
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Globally, North America has been recording the highest revenue in the polymer concrete market. This is attributed to the increasing use of this concrete in repair and maintenance activities in the region. Instead of demolishing and rebuilding industrial, civil, and other infrastructures, companies and individuals are opting for repair and restoration of infrastructures, which is driving the market growth.
Middle East and Africa (MEA) has been recording the second highest revenue share in the polymer concrete market, led by the high economic development in the region. The upcoming mega construction projects in the region, such as Smart City in Dubai and Lusail City in Qatar are fueling the market growth.
Some of the major players operating in the polymer concrete industry are Forte Composites Inc., ACO Severin Ahlmann GmbH & Co. KG, Fosroc International Ltd., Sauereisen Inc., Dudick Inc., ErgonArmor, BaseTek, Crown Polymers Corporation, BASF SE, and Sika AG.
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