by Polymer concrete is increasingly being used in the construction of infrastructure projects owing to its high strength, corrosion and crack resistance properties. Polymer concrete consists of aggregate binders filled with a synthetic polymer instead of Portland cement and water. It has advantages over conventional concrete such as less permeability, faster curing time, UV resistance and ability to be cast or molded into any shape. The growing infrastructure development across the world is driving the demand for robust, durable and lightweight construction materials like polymer concrete for roads, bridges, building components etc.
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 from 2024 to 2031.
Key Takeaways
Key players operating in the Polymer Concrete Market Growth 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., and others. The growing infrastructure projects across regions offer significant opportunities for polymer concrete manufacturers to tap new markets. Major companies are investing in R&D to develop advanced polymer concrete formulations for applications in rapid industrialization and urbanization driven construction activities globally.
Market drivers
The rapid pace of infrastructure development across both developed and developing economies is a major driver for the polymer concrete market. According to estimates, the global infrastructure investment needs over 40 trillion dollars from 2016 to 2030 to maintain and expand current infrastructure facilities. Polymer concrete is increasingly being preferred over conventional concrete for its inherent advantages in construction of roads, bridges, tunnels, precast components and other infrastructure assets which require high strength, durability and faster construction times. The growing urbanization and mobility needs are further expected to propel the demand for advanced construction materials like polymer concrete.
PEST Analysis:
Political: The Polymer Concrete market is driven by government policies and regulations that promote infrastructure development and focus on repairing existing infrastructure. Various safety and environmental standards also impact the demand for Polymer Concrete.
Economic: The global economy growth is driving infrastructure spending across major markets. Recovery of construction industry after downturn has further boosted demand. High disposable incomes in developing nations are also fueling market growth.
Social: Rising population and urbanization are increasing the needs for roads, buildings, and other infrastructure where Polymer Concrete finds extensive use. Customers also prefer sustainable and durable construction materials.
Technological: Advancements in Polymer Concrete formulations are allowing greater strength, flexibility, chemical resistance and other improved properties. New methods are enabling usage in varied applications from flooring to precast structures. The market is also witnessing automation and digitization.
Geographical concentration: The Asia Pacific region accounts for a major share of the global Polymer Concrete market value owing to the massive infrastructure development programs underway in countries such as China and India. The large population and economic growth are driving construction activities in the region.
Fastest growing region: The Middle East and Africa region is expected to grow the fastest during the forecast period attributed to increasing investment in public infrastructure and real estate construction projects across Middle Eastern countries seeking to diversify their economies.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
