The global polymer concreate market was valued at $2.1 billion in 2017 and is estimated to further become $3.4 billion by 2024, at a CAGR of 7.2% during 2018-2024. This market is witnessing significant growth owing to increasing responsiveness concerning the usage of polymers in concrete as it offers multi-tasking and enhanced performance. Extensive spending on maintenance and repair along with rapid growth in infrastructural and developmental accomplishments in growing economies are the major factors driving the growth of polymer concrete market globally.
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According to a study, it has been observed that in 2017 in Germany with a cumulative investment amount of $140 billion approximately 180 developmental projects were in the growing phase. Additionally, in India in 2014 the investment of $700 billion was estimated towards urban infrastructure under the “Make in India” initiative. Moreover, these factors are further expected to bolster the growth of polymer concrete market across the globe.
The global polymer concrete market has also been segmented by end-user into civil infrastructure, non-residential structure and residential structure. Civil infrastructure is projected to become largest market owing to several initiatives by the government agencies to upgrade the economy and develop extensive investment in civil infrastructure in developed economies. Furthermore, the accelerating demand for polymer concrete is additionally increasing the demand for polymer concrete in the global market.
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On the basis of type, polymer concrete market is segmented into Epoxy, Polyester, Vinyl and Others (Phenolic-Formaldehyde, Acetone-Formaldehyde and Carbamide). In 2017, Epoxy was estimated to be the largest segment due to several enhanced features associated with it such as greater heat resistance; enhanced flexibility and chalking propensity in outdoor acquaintance have accelerated the demand for polymer concrete across the globe.
Globally industry players are leveraging market growth by replacing the cheap substitutes of products to providing superior quality options for varied ranges of applications across the globe. Some of the major players operating in the global polymer concrete market are Fosroc International Ltd., Dudick Inc., Forte Composites Inc., Crown Polymers Corporation, ACO Severin Ahlmann GmbH & Co. KG, ErgonArmor, BASF SE, BaseTek, Sauereisen Inc., and Sika AG.
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