CAGR: 7%Current Market Size: USD 1.1 BillionFastest Growing Region: North America
Largest Market: APACProjection Time: 2023-2030Base Year: 2022
The Global Concrete Containing Polymers market is expected to grow from USD 1.1 billion in 2022 to USD 2.0 billion by 2030, at a CAGR of 7% during the Projection period 2023-2030. The growth of this market is mainly driven owing to the growth and increasing development of infrastructural activities.
Concrete containing polymers resin and an aggregate mixture is combined to create polymer concrete. Sometimes microfilters are used to fill the spaces left by the aggregate mixture. Methacrylate, polyester, epoxy, vinyl ester, and furan resins are polymeric resins that are frequently used in polymer concrete. The most popular resin systems for polymer concrete are unsaturated polyester resins because of their affordability, accessibility, and robust mechanical qualities. European nations also make extensive use of furan resins. Because of its greater flammability and unpleasant odor, MMA has a limited range of applications; yet, due to its excellent workability and low-temperature curability, it has garnered significant interest. The cost, desirable qualities, and needed chemical and weather resistance all influence the resin type that is selected. Because of their superior mechanical qualities and greater endurance when exposed to hosEpoxy environmental elements, epoxy resins are preferred over polyester, but their higher price prevents them from being widely used. According to a comparison study on the properties of epoxy and polymer concrete, polyester concrete can have its properties improved to the same level as epoxy concretes by adding micro fillers and silane coupling agents. However, epoxy concrete typically has better properties than polyester concrete.
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Market Dynamics:
Drivers:
The number of specialized applications where polymer concrete could be used, like those in Drainage Systems and Industrial Tanks applications, has been developing quickly due to rapidly expanding infrastructure activities on a global scale. For instance, the Asia Pacific region has seen a sharp increase in demand for sewerage pipelines. Due to its high tensile strength and quick curing properties, polymer concrete is mostly used to build manholes and swimming pools as well as other structures that contain chemicals and liquids that cause them to deteriorate over time.
Restraints:
The polymer concrete industry is fragmented globally, and the majority of construction firms and governmental organizations utilize the product to maintain sustainability and make their building Product Types more durable over time. When compared to other forms of concrete on the market, the price of polymer concrete is extremely expensive. In addition, due to worries about the composite Product Type's safety, end customers have preferred polymer concrete surface layer applications over full polymer concrete constructions. Due to their toxicity, volatility, and combustibility, the handling of the monomers required to make polymer concrete raises several safety risks. Initiators are combustible and harmful to human skin since they are utilized as catalysts, promoters, and accelerators for the polymerization process.
Opportunities:
In addition to dams, asphalt concrete is frequently used to cover highways, parking lots, and airports. Due to technological developments in the construction sector, polymers are now added to asphalt cement to change its viscoelastic behavior. The expanding road network uses hot-mix asphalt cement that has been polymer modified extensively. Less thermal (cold-temperature) cracking and greater mixture durability are the secondary benefits of employing these high-performance asphalts, with improved rutting resistance being the principal benefit. Additionally, certain modified binders offer enhanced resistance to stripping (moisture damage). The two most widely utilized varieties are plastomers (plastics) and elastomers (rubbers or elastics). Commonly used elastomers include styrene-butadiene rubber (SBR) and styrene-butadiene-styrene (SBS).
Challenges
Although polymer concrete is used all throughout the world, there aren't many companies that can make it and its companion items. In order to produce polymer concrete, manufacturers encounter some challenges. The creation of polymer concrete requires a significant quantity of energy, which raises the entire cost of goods. Few polymer concrete producers have their own patented production processes. A number of firms in the polymer concrete market are being hampered by the rising cost of raw Product Types and other issues.
Segmentation Analysis:
The global Concrete Containing Polymers market has been segmented based on product type, polymer type, end-user, and regions.
By Product Type
The product type segment is polymer concrete, latex-modified concrete, polymer-impregnated concrete, and others. The latex-modified concrete segment led the largest share of the Concrete Containing Polymers market with a market share of around 32.3% in 2022. The LMC type of concrete polymer can be mixed and handled similarly to conventional concrete polymers, making it cost-effective compared to other segments and the largest segment in the global market for concrete-containing polymers. The expansion of this market, however, will be fueled by the rising demand for SBR latex-modified concrete across a variety of applications, such as concrete bridges, parking decks, pavement patch repairs, and stadium repairs, throughout the world. Additionally, the growing demand for acrylic latex-modified concrete for flooring applications has helped to increase the global market share for concrete that contains polymers.
By Polymer Type
The polymer type segment includes epoxy, latex, acrylate, polyester, vinyl, and others. The Epoxy segment led the Concrete Containing Polymers market with a market share of around 28.8% in 2022. The use of epoxy polymer in concrete provides excellent adhesion, minimal shrinkage, good chemical resistance, and the ability to be designed to cure in any humidity and temperature range. Due to these advantages, epoxy polymer concrete is mostly employed as resurfacing materials, external walls, and skid-resistant highway toppings. As a result, these elements account for epoxy polymer-based concrete being the largest section by polymer type.
By End-User
The end-user segment includes drainage system, industrial tanks, building repair construction, and others. The building repair construction segment led the Concrete Containing Polymers market with a market share of around 38% in 2022. The growth of this market is driven by an increase in middle-class spending worldwide, an increase in construction in Middle Eastern nations like the United Arab Emirates, a rise in the population of emerging nations like China and India, and an increase in building maintenance due to aging infrastructure nationwide. The expansion of this market over the Projection period is also fueled by an increase in building and construction activities in both established and emerging regions to support the expanding industrialization.
Global Concrete Containing Polymers Market- Sales Analysis.
The sale of Concrete Containing Polymers expanded at a CAGR of 5% from 2016 to 2022.
An increase in construction work in the MEA region. The world's largest oil hub is located in the Middle East. The erratic crude oil market has slightly shifted the government's attention to the growth of other sectors. As a result, the government is working to diversify its economy and reduce its dependency on the oil industry. For instance, the construction of hotels and recreational facilities throughout the nation is being sparked by the Expo 2020 in Dubai. Additionally, the GDP of the UAE's construction sector is anticipated to rise at a pace of 4.9%, according to research released by the Dubai Chamber of Commerce in January 2019. However, this industry is also expanding due to the UAE's growing trend of building smart cities.
Additionally, emerging efforts like the Qatar National Vision 2030, Dubai Plan 2021, Abu Dhabi Economic Vision 2030, and Saudi Vision 2030 are presenting growth potential. Whereas, building firms from both developed and emerging countries are making significant investments in the Middle East region. For instance, the Middle East building contract was won in 2019 by McDermott from the US, Larsen & Toubro from India, Foster + Partners from the UK, and Galfar Engineering & Contracting from Oman. Due to the expansion of transportation and energy projects, the construction industry is also expanding in the African region. Since concrete containing polymers is frequently used in construction projects, the expansion of the Middle East's construction industry will also contribute to the growth of this market in the area over the course of the Projection period.
Thus, owing to the aforementioned factors, the global concrete containing polymers market is expected to grow at a CAGR of 7% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the Concrete Containing Polymers market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The Asia Pacific region dominated the Concrete Containing Polymers market and held a 39.1% share of the market revenue in 2022.
Global Concrete Containing Polymers Market- Country Analysis:
Germany's Concrete Containing Polymers market size was valued at USD 0.08 billion in 2022 and is expected to reach USD 0.09 billion by 2030, at a CAGR of 2.8% from 2023 to 2030. Polymer concrete is widely used in flooring applications in the energy & utilities, chemical, metallurgy, and pulp & paper sectors in Germany as a reliable way to fend against chemical assault and avoid chemical corrosiveness.
China’s Concrete Containing Polymers market size was valued at USD 0.15 billion in 2022 and is expected to reach USD 0.20 billion by 2030, at a CAGR of 3.7% from 2023 to 2030. China is the world's top producer of consumer and retail products, particularly in the market for automobiles. It also consumes a lot of polymer concrete. Due to rising demand from the industrial end-use sector, China's polymer concrete market is increasing quickly. The building sector is crucial to China's ongoing economic success. The value of construction output comprised 25.7% of China's GDP in 2021, up from 11.0% in 2020, according to the National Bureau of Statistics.
India's Concrete Containing Polymers market size was valued at USD 0.13 billion in 2022 and is expected to reach USD 0.16 billion by 2030, at a CAGR of 3.1% from 2023 to 2030. Due to the increased infrastructure construction activities taking place all over India, there is an increasing need for specific applications where polymer concrete could be used, such as those in the residential and commercial sectors. The demand for sewerage pipes and bridges has been gradually increasing as a result of the expanding population and the ensuing necessity to modernize sewage systems to accommodate more people.
Key Industry Players Analysis:
To increase their market position in the global Concrete Containing Polymers business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
7% |
Market Size |
1.1 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Product Type, By Polymer Type, By End-User, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
ACO Group of Companies, Bechtel Corporation, BASF SE, Forté Composites Inc., Interplastic Corporation, Bouygues S.A., Kwik Bond Polymer, Wacker Chemie AG, Wagman Concrete Group, Dow Chemical, and ULMA Architectural Solutions. |
By Product Type |
|
By Polymer Type |
|
By End-User |
|
Regional scope |
|
Scope of the Report
Global Concrete Containing Polymers Market By Product Type:
Global Concrete Containing Polymers Market By Polymer Type:
Global Concrete Containing Polymers Market By End-User:
Global Concrete Containing Polymers Market By Region:
Global Concrete Containing Polymers market size is USD 1.1 billion in 2022.
New product innovations and growing infrastructural activities around the globe are projected to influence the market in the upcoming years.
Building Repair Construction segment witnessed a significant share in the Concrete Containing Polymers market with a market share of around 38% in 2022.
Growing demand across various end-use industries applications is primarily driving the growth of the Concrete Containing Polymers market.
Political Factors- China and other rising nations have modified their regulations in recent years regulating both market access and how enterprises in the chemical manufacturing industry can conduct business there. A factor affecting the business is the new government's shifting policy. According to current trends, the Chinese government may change after the next election. This possibility must be anticipated by the industry because it will alter the sector's governance priorities. polymer-containing concrete Before joining or making an investment in a certain market, businesses can carefully consider the factors such as Intellectual property protection, industrial safety regulations, bureaucracy and interference, and more.
Economical Factors- It is projected that increasing demand for the product in the drainage system, industrial tanks, building repair construction, and others will drive the market for concrete-containing polymers. The construction industry makes extensive use of these cutting-edge materials. Global financial markets that operate efficiently can access active financial markets and simple access to liquidity, allowing the stock market for concrete-containing polymers to grow. Another issue is the workforce's skill level, which is moderate to high in emerging countries' human resources for the materials industry. This sector may use technology to improve services while also utilizing skilled labor to open up new worldwide prospects. Economic cycles also have an impact on the sector, as the performance of the industry on a worldwide scale and the health of the economy are strongly intertwined. Growing globalization and the use of local resources to serve international markets have been the cornerstones of the past two decades of growth.
Social Factor- Every group and culture conducts business in a unique way. These social aspects can be used to better understand customer preferences in the global basic materials industry as well as market issues, such as concrete-containing polymers. Social aspects include beliefs about health and safety, gender roles, support for entrepreneurship, culture, attitudes toward certain goods and services, societal roles and norms, traditions, demographics, and recreational interests. Social hierarchy and conventions have an impact on the sector; for example, Chinese society is distinct from American society. In order to better serve the local community and its residents, it should work to develop a local team. Consumption decisions and behaviors have also been influenced by the drive toward health and well-being. The polymer concrete industry is fragmented globally, and the majority of construction firms and governmental organizations utilize the product to maintain sustainability and make their building Product Types more durable over time. When compared to other forms of concrete on the market, the price of polymer concrete is extremely expensive which influences the buying power.
Technological Factors- Different industries are being rapidly disrupted by technology, and Basic Materials is no exception. The concrete that contains polymers is being impacted by technology in a variety of ways. A few technological influences include innovation in product offerings, innovation in customer services, disruption of the supply chain as a result of technology, population access to technology, rate of technology-driven change, access to more information, access to mobile phones empowering people, etc. One of the factors affecting the market is the protection of intellectual property rights and patents. For instance, if China has stronger protections for IPR and other intellectual property rights, then more and more firms are likely to invest in R&D. Customers' expectations in the Basic Materials sector have changed as a result of the advancements and widespread use of mobile technologies.
Environmental Factors- Sustainability and environmental concerns have grown in importance for businesses over the past ten years. Organizations are being urged to follow environmental standards by the government and pressure groups. Safe waste disposal, safe disposal of hazardous materials, legislation controlling pollution, safe water treatment, reducing carbon footprints, addressing climate change, putting more emphasis on sustainability, insurance policies, etc. are some of the environmental factors. Despite being utilized all throughout the world, there aren't many businesses that can produce polymer concrete and related products. Manufacturers have some difficulties when producing polymer concrete. A substantial amount of energy is needed to produce polymer concrete, which boosts the cost of all commodities. Few companies that create polymer concrete have patented their unique manufacturing techniques.
Legal Factors- In any economy, the legal system is crucial to the growth of the chemical manufacturing sector. concrete containing polymers Before entering the global market, industry management must take into account the following legal factors: discrimination laws, data protection laws, copyright laws, the legal system, bias against domestic competitors, the protection of intellectual property rights, the length of the justice process, etc. In the past ten years, data protection has become a crucial component of both privacy concerns and intellectual property rights. The polymer-containing concrete industry must take into account whether or not developed economies like Germany, China, the United States, India, and others have a reliable system in place to guard against data breaches.
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