Future Market Insights (FMI) has stated that, as compared to conventional concrete products, polymer concrete has been observed to display superior compressive and impact strength. It is capable of enduring high-frequency vibrations and can be used for constructing complex shapes. Therefore, the use of polymer concrete in industrial infrastructures, such as waste containers, pump bases, industrial flooring blocks, chemical containments, and trench drains has grown significantly over the past couple of years. Recently, FMI conducted a study on the global market for polymer concrete and found that production of the material is likely to grow from 143 620 t in 2015, to 328 159 t by the end of 2027.
Titled ‘Polymer concrete market global industry analysis and opportunity assessment 2017 – 2027’, the report reveals that, currently, the market is valued at around US$300.5 million and is estimated to exceed US$691 million by 2027, reflecting a 7.9% CAGR during the forecast period (2017 – 2027). The market is expected to witness an incremental dollar opportunity of US$369.9 million during the same period, on account of the increasing requirement of materials with high durability, chemical resistance, and corrosion resistance. On the flip side, lack of product awareness continues to be a major factor, inhibiting the growth of the market.
Further insights include the fact that regions such as North America and Europe are already witnessing a widespread adoption of polymer concrete material in the construction application. In addition, owing to the low-cost benefit over other resins, polyester continues to be the preferred choice for manufacturing polymer concrete products. Polymer concrete also finds widespread application in building chemical containments and pump bases. Collectively, these two segments account for a more than 30% value share of the market. Finally, in 2017 and beyond, the global polymer concrete market is expected to be influenced by further product innovation and new product development.
Manufacturers of polymer concrete have channelised efforts towards developing multiple desired properties in their products to gain competitive advantage, such as toughness, durability and long life, extreme chemical resistance, and ease of installation of polymer concrete products.
Read the article online at: https://www.worldcement.com/the-americas/18062019/future-market-insights-predicts-growth-in-polymer-concrete-market/