by The polymer concrete market is in trends by technological innovations. Polymer concrete is a composite material obtained by adding polymers to a cement and aggregate mixture. It offers several advantages like high compressive and flexural strengths, durability, corrosion and chemical resistance. It is used in industrial flooring, precast products, heavy-duty structures, potable water and sewage pipes for its superior mechanical properties. The growing construction and infrastructure development activities globally have fueled its demand.
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 2024 to 2031.
Key Takeaways
Key players operating in the Polymer Concrete Market Demand 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. Key players are investing in product innovations to improve mechanical properties and expand their geographic reach.
Growing construction activities in emerging economies of Asia Pacific and Middle East are driving the polymer concrete market growth. The high speed of construction and low maintenance requirements appeals concrete producers. Polymer concrete finds increasing applications in industrial waste containment, precast artefacts and marine structures due to its corrosion resistance.
The global polymer concrete industry has seen rapid consolidation through mergers and acquisitions over the past decade. Companies are focusing on global expansion plans to leverage business opportunities. Furthermore, polymer research is ongoing to develop innovative product applications and address sustainability.
Market key trends
One of the key trends in the polymer concrete market is development of high strength polymer concrete variants using nano-materials. Additives like nano-silica, carbon nanotubes etc. are yielding concretes with improved mechanical strengths. Researchers across the world are actively working on such product advancements. Development of ‘green’ and eco-friendly polymer concrete using bio-based polymers is another trend, driven by the global sustainability agenda. These emerging trends are expected to further fuel the polymer concrete industry growth during the forecast period.
Porter’s Analysis
Threat of new entrants: It is moderate as high capital required and there are few barriers such as established brands, economies of scale and customer switching costs.
Bargaining power of buyers: It is moderate as few large buyers are there who can negotiate on price and many substitutes are available.
Bargaining power of suppliers: It is low to moderate as raw material suppliers have less bargaining power compared to buyers due to availability of many suppliers.
Threat of new substitutes: Substitutes threat is moderate as new substitutes constantly emerge but switching costs prevent quick adoption.
Competitive rivalry: The rivalry is high owing to many global and regional players competing on basis of product quality, price and innovation.
Geographical Regions
North America region accounts for largest share in polymer concrete market in terms of value owing to increasing construction activities and high disposable income. The United States holds major share of North America polymer concrete market.
Asia Pacific region is expected to witness fastest growth during forecast period 2024-2031 due increasing investments in infrastructure development projects across countries like China and India along with growing industrialization.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
