Polymer Concrete Market will witness a CAGR of 7.5% in the forecast period
The polymer concrete market is driven by an ever-increasing penetration of resin or polymer concrete all through the construction industry. Polymer concrete does possess stronger adhesive properties. As such, it is looked upon as the most sought-after solution with regards to repairing polymer-based and cement-based cement. Also, the product does offer higher resistance to chemicals, abrasions, and freezing. Complex structures are also at ease with polymer concrete’s high impact and compressive strength. By type, the market spans epoxy, furan, potassium silicate, and vinyl ester.
The other applications driving the polymer concrete market include construction of chemical containments, trench drains, waste containers, pump bases, and flooring blocks. Of late, there has been higher demand from nuclear power plants, sewage works. The demand for waterproofing is also growing day after day. These factors are also driving the polymer concrete market.
PMR states that the global polymer concrete market will witness a CAGR of 7.5% in the forecast period.
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Key Takeaways from the Polymer Concrete Market
- By end-use, “infrastructure” sector holds the largest market share.
- By type, non-commercial sector is expected to expand at the fastest pace.
- The Asia-Pacific is expected to be the major revenue generator going forward, due to construction activities at their peak in countries like India and China.
- Europe is expected to catch up out of recovery in commercial and residential sectors going forward.
- North America will grow due to an extensive demand for “single-family housing”. Programs like “National Housing Commission” and “National Infrastructure Program” have been launched by the government of Mexico, which are projected to hold the flag for North America high.
- By application, containments hold the major market share, basically due to more number of manufacturing industries using containments for storing fluids. This scenario is expected to be prevalent in the MEA and Asia-Pacific.
- By type, epoxy happens to be the maximum revenue generator due to high resistivity with respect to chemicals, notable creep resistance and fatigue. Adhesion is already good to go. The application areas include exterior walls, skid-resistant overlays in the highways, industrial floorings, and as a resurfacing material for giving deteriorated areas superior finishing.
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How is the polymer concrete market structured?
The key players in the polymer concrete market include Mapei, BASF, Sika, Fosroc, Kwik Bond Polymers, ACO Group, Sauereisen Inc., Dudick Inc., Wacker Chemie AG, and Dow Chemical. They are onto the inorganic mode of expansion to make a mark for themselves.
Impact of Covid-19 on Polymer Concrete Market
The outbreak of Covid-19<span style=”font-weight: 400;”> has sent across the waves of uncertainty. Partial/total lockdowns inflicted almost everywhere has suspended the production of polymer concrete since Mar 2020. This is also because construction industry has come to a halt. Though unlocking has begun in phases, it will take a while for the entire situation to come under control – say – mid 2021, when Covid-19 vaccine will most probably be in place.
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