Polymer Concrete Market size is expected to cross USD 30 billion by the end of 2035, witnessing around 8% CAGR during the forecast period i.e., 2023 – 2035. In the year 2022, the industry size of polymer concrete was around USD 12 billion. The growth of this market can be ascribed on the account of growing demand for long-term usable and low-permeability of polymer concrete that are allowed for swimming pools, and other formations which contain corrosive chemicals.
However, polymer concrete offers a wide range of benefits as compared to the old cement-based concrete such as chemical resistance, durability, more strength, and less permeability. All these properties of polymer concrete make it appropriate for usage in the construction sector for various purposes such as infrastructure repair, precast products, drainage systems, industrial flooring, and waste containers.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023 – 2035 |
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CAGR |
~8% |
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Base Year Market Size (2022) |
~USD 12 billion |
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Forecast Year Market Size (2035) |
~USD 30 billion |
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Regional Synopsis |
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Application (Infrastructure, Residential, Non-Residential)
The residential segment is estimated to observe the largest CAGR by the end of 2035, it held a share of 45% in the year 2022. Nowadays builders and promoters are looking for materials that require very less maintenance and offer high strength & durability. The polymer concrete fulfills all these criteria, as it has enhanced strength and offers resistance to all environmental factors. It can be utilized in residential applications such as countertops, and decorative elements offering long-lasting and less maintenance solutions.
End Use Industry (Construction, Transportation, Chemical Industries)
The construction segment is assumed to dominate the global market between the time period 2023 – 2035. The growth of this market can be ascribed on account of growing urbanization and a surge in population. Moreover, the rise in global population and increasing urbanization has resulted in a rise in construction projects. Within this industry, polymer concrete is extensively used for various purposes through construction equipment such as flooring, facades, foundation, and architectural elements. By 2050 an estimated 68% global population will reside in urban areas reported as by United Nations.
Our in-depth analysis of the global market includes the following segments:
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Application
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End User |
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Asia Pacific Market Forecasts
The polymer concrete market in the Asia Pacific region held a market share of 37% in the year 2019. Further, the market is expected to become the largest growing regional market in the projected period. The government's actions and investments are responsible for regional growth. To boost economic growth, increase connectivity, and improve quality of life, governments around the Asia Pacific region have begun putting plans into action and making investments in infrastructure development. For instance, programs like the Smart Cities Mission in India and the Belt and Road Initiative in China have sparked major building activity, opening up the potential for the usage of polymer concrete.
North America Market Statistics
In the North American region, the polymer concrete market is predicted to grow substantially by the end of the projected time period. The transportation industry is growing in the North America region, which leads to the surging demand for polymer concrete for deteriorating Portland cement concrete structures. In addition, the development of parking lots, airports, and surface roads is also expected to contribute to the market’s growth in the region. As per a recent survey, there are nearly 650 million parking spaces on the low end and 2 billion parking spaces on the high end in the United States.
Author Credits: Smruti Ranjan, Rajrani Baghel
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