Polymer Concrete Market

Market Overview

The global Polymer Concrete Market size was valued at USD 620.8 Million in 2022. It is estimated to reach USD 1160.6 Million by 2031, growing at a CAGR of 7.2% during the forecast period (2023–2031). The polymer concrete market growth is expected to be driven by demand for its extensive use in the industrial, residential, municipal, and commercial sectors. 

Polymer concrete is a type of concrete that has been altered by adding polymers to its composition. These polymers, which include epoxy, vinyl ester resins, and other synthetic binders, replace or supplement some of the typical cement content in the concrete mixture. This change improves the concrete's characteristics, making it more appropriate for specific purposes.

Polymer concrete market share is expected to expand as it is increasingly used in drainage applications. Polymer concrete allows for precise shaping and polishing, promoting efficient hydraulic flow and ensuring superior water discharge rates from the pipe. The benefits are expected to drive demand for polymer concrete in municipal applications. As a result, increasing polymer concrete applications in the building industry will likely boost market growth.

Market Dynamics

Global Polymer Concrete Market Drivers:

Exceptional Durability and Longevity

Polymer concrete is well-known for its remarkable resilience and longevity, making it a popular choice for building projects requiring longevity and resistance to environmental pressures. The fabrication of bridge deck overlays is one of the most famous applications of polymer concrete. Bridge decks are subjected to various environmental stresses, such as severe traffic loads, freeze-thaw cycles, deicing salts, and moisture. Polymer concrete overlays were developed in response to the demand for a long-lasting solution to maintain and extend the life of bridge decks. Polymer concrete overlays have been successfully employed to restore and safeguard bridge decks in diverse countries, according to a report by the American Concrete Institute (ACI). These overlays have shown exceptional long-term performance, with some projects demonstrating service lives of 20 years or more.

Moreover, Polymer concrete is a popular choice for wastewater treatment plants that require corrosion-resistant materials due to its long service life. Real-world uses in these facilities demonstrate the dependability of polymer concrete in such harsh settings. Hence, the polymer concrete market trend is expected to have a positive outlook during the forecast period.

Global Polymer Concrete Market Restraints:

Environmental Concerns

Environmental issues are a serious impediment to the widespread use of polymer concrete. While polymer concrete has advantages such as increased durability and decreased maintenance, the production and use of polymers and resins have environmental consequences. This has raised worries about sustainability and environmental impact, particularly in areas with severe environmental rules and a growing awareness of environmental issues. The manufacture of polymer resins, essential components of polymer concrete, is related to VOC emissions, which can contribute to air pollution. In many regions, regulations limiting VOC emissions are becoming stricter, adding to environmental concerns.

Global Polymer Concrete Market Opportunity:

Green Building Practices

Green building strategies stress environmental friendliness and sustainability. In this perspective, polymer concrete presents a possibility, particularly when produced with recycled ingredients and tailored to have a lesser environmental impact. Using environmentally friendly polymer concrete meets green construction requirements and sustainability goals. Recycled materials, such as post-consumer or post-industrial waste, are used in some polymer concrete formulas. These recovered materials may contain aggregates, reducing the demand for virgin resources. Polymer concrete mixes, for example, may use recycled glass or plastic aggregates, decreasing the environmental effect of raw material extraction.

According to the U.S. Green Building Council (USGBC), green building approaches are becoming increasingly popular worldwide. The USGBC's Leadership in Energy and Environmental Design (LEED) accreditation program promotes using environmentally friendly and sustainable construction materials. Furthermore, the European Union's Circular Economy Action Plan emphasizes recycling and decreasing the environmental impact of building materials. This emphasis opens prospects for eco-friendly building materials such as polymer concrete, particularly when constructed with recycled content and a lower carbon footprint.

Regional Analysis

The global polymer concrete market analysis is conducted in North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.

North America Dominates the Global Market

North America is the most significant global Polymer Concrete market shareholder. The construction business contributes significantly to the US economy. The industry employs over 7 million people and has over 680,000 employers. It produces about USD 1.3 trillion in structures each year. It is one of the most important consumers for manufacturing, mining, and a wide range of services. Growing construction activities, new bridges in Clinton, Beaver, Clearfield, and elsewhere, and rising road-building activities are the primary reasons for the industry's expansion in this region. In the region, industrial building climbed by roughly 4.7%, followed by hospital construction by 1.1% in January 2021 compared to December 2020.

Furthermore, healthcare construction in the region is predicted to expand by roughly 5%. Commercial construction is predicted to increase by 2%, with office construction at roughly 6%, followed by retail construction at 1%. Furthermore, in the United States, single-family home development increased in Florida, Georgia, North Carolina, Washington, Utah, Tennessee, Ohio, California, Idaho, and South Carolina. The southern part of the country is predicted to have the highest growth rate of over 6%, followed by the West, Midwest, and Northeast.

Asia-Pacific has seen considerable infrastructure development, urbanization, and a growing demand for durable and sustainable construction materials, according to Asia-Pacific polymer concrete market insights. Polymer concrete overlays extend the service life of highway and bridge decks in nations such as China and India. For example, the Yamuna Expressway in India uses a polymer concrete overlay to protect the road from wear and tear caused by heavy traffic. China is the world's top producer of consumer and retail goods, particularly in the automotive sector. It is also a significant consumer of polymer concrete. The polymer concrete market in China is rapidly expanding because of rising demand from the industrial end-use segment. China's sustained economic development is primarily reliant on the construction industry.

Additionally, Asia-Pacific countries have been increasing the capacity of their wastewater treatment plants. Polymer concrete is used to build containment structures and sewage system linings, which ensures long-term functionality. Singapore, for example, is developing innovative wastewater treatment systems.

The European market has grown steadily during the predicted period. The region's concentration on infrastructure development and sustainable construction standards has contributed significantly to the region's progress. Polymer concrete is well-known for its durability, resilience to environmental variables, and versatility, making it suited for various applications. Europe was a prominent user of polymer concrete in 2022, owing to strong product demand from established economies such as Germany, the United Kingdom, Russia, Italy, and France. The European market will likely profit from the recent residential and commercial construction rebound. High consumer spending capacities and rigorous government regulations for the European building industry will likely boost market growth.

The Middle East and Africa's construction sector is predicted to grow rapidly throughout the forecast period due to increased investment, increased oil output, and improved weather conditions. Increased government investments in infrastructure development projects in Saudi Arabia, the United Arab Emirates, and Qatar are expected to bolster the construction industry. This, in turn, is expected to boost demand for polymer concrete over the forecast period.

Segmental Analysis

The global polymer concrete market is segmented based on type, binding agent, application, and region.

Type is further segmented into Polyester, Vinyl Ester, and Epoxy Based.

Vinyl Ester generates the most revenue in the market.

Vinyl Ester

The strength of epoxy is combined with exceptional resistance to chemical and environmental stress in vinyl ester polymer concrete. It is extremely sturdy and can tolerate harsh circumstances. Vinyl esters are inexpensive to create and are resistant to corrosive and chemical solutions. Because vinyl esters are regarded to be more brittle than epoxies, they frequently undergo greater shrinkage in polymer concrete. They are more resistive to vibrational stresses, thermally resistant, and harder than polyester, which minimizes the likelihood of breaking from impact loads.

Polyester

Polyester polymer concrete is well-known for its great strength and chemical resistance. It is frequently utilized in applications where corrosion resistance is critical. Chemical containment structures, industrial flooring, and sewer linings are common uses requiring chemical resistance.

Based on the binding agent, the market is sub-segmented into Natural and synthetic Resin.

Synthetic Resin is the common building agent of the market.

Synthetic Resins

Synthetic resins, primarily derived from petrochemical sources, provide exceptional adhesion, durability, and resistance to various environmental variables. They're well-known for their adaptability and lengthy service life. Synthetic resin-based polymer concrete is widely used, from industrial floors and bridge deck overlays to chemical containment structures and sewage system linings. Because of its adaptability, it is appropriate for a wide range of building and infrastructure projects.

Natural Resins

Natural resins, frequently sourced from plant-based sources such as soybean, corn, or linseed, are environmentally benign and biodegradable. They are well-known for their long-term viability and negligible environmental effects.

The segment can be bifurcated by application into Solid Surface Countertops, Outdoor Seats and benches, Waste Containers, Pump Bases, Flooring, Blocks, Chemical Containments, and Trench Drains.

Flooring influenced the market growth.

Flooring

Polymer concrete flooring is well-known for its durability, abrasion resistance, and ease of maintenance. It can be tailored to meet a variety of aesthetic and functional requirements. The increasing demand for polymer concrete flooring from the industrial, commercial, institutional, and residential sectors is driving the expansion of this category.

Solid Surface Countertops

Polymer concrete can be used to make solid surface countertops that are stylish and long-lasting. These countertops are stain, heat, and moisture resistant.

Recent Developments

• October 2023- BASF provides biomass-balanced tetrahydrofuran to Asahi Kasei's ROICA.
• September 2023- Dow introduced low-carbon, bio-based, and circular propylene glycol solutions in Europe.