Polymer concrete is a type of concrete, generally composed of polymers and aggregates. Polymers are used as a binding agent, alternative to cement. Addition of polymer to concrete, results in polymer-modified concrete, or polymer cement concrete, whereas latex-modified concrete is utilized for bridge decking. All types of polymer concrete are acid resistant, a characteristic of significance for concrete, as it is often exposed to non-fluoride acids. Other advantages of polymer-modified concrete include increased strength, high durability, improved workability, increased freeze-thaw stability and low water permeability. The performance profile of polymer concrete can be altered according to specific purpose, using several resins such as epoxy, acrylic, and furan, among others.
GROWTH DRIVERS AND CHALLENGES
The growing construction activities and investment in infrastructure has aided the polymer concrete market growth. The demand for building materials is rising with the advancement in infrastructure activities in the past few years. Government of several countries are allocating high budget for rehabilitation and development of infrastructure. In November 2021, the US government approved a US$ 1.2 trillion infrastructure bill to aid federal investments in various infrastructure projects. Also, investment in the US construction sector is expected to increase by 5.5% by 2023. Such initiatives generate demand for construction materials, equipment, and services. The growing global construction sector and rising government emphasis on infrastructure is fuelling the demand for polymer concrete. According to the European Construction Industry Federation, in 2020, the European Union invested US$ 1.4 trillion in the construction industry. Moreover, the increasing population in India and China is another factor fuelling the demand for residential construction, thereby aiding the share of India in global polymer concrete market share. Polymers are obtained from non-renewable resources such as petroleum and cause environmental pollution. Additionally, production of such polymers leads to emission of hazardous gases and cause air pollution. Stringent regulations imposed by several governments globally to control pollution pose a challenge to the polymer concrete market. Rising government and customer preference for green and sustainable building materials can further limit the polymer concrete market.
REPORT SEGMENTATION AND SCOPE
The "Global Polymer Concrete Market Analysis to 2030" is a specialized and in-depth study with a major focus on the global polymer concrete market trends and growth opportunities. The report aims to provide an overview of the global polymer concrete market with detailed market segmentation by product type, material type, end-use industry, and geography. The global polymer concrete market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of polymer concrete worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the polymer concrete market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the polymer concrete market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative polymer concrete market opportunities that would, in turn, aid in identifying the major revenue pockets.
Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global polymer concrete market, which helps understand the entire supply chain and various factors affecting the market growth.
The global polymer concrete market is segmented on the basis of product type, material type, and end-use industry. Based on product type, the polymer concrete market is segmented as polymer impregnated concrete, polymer Portland cement concrete, polymer resin concrete, and others. On the basis of material type, the market is classified as, epoxy, acrylic, polyester, and others. The polymer concrete market is categorized on the basis of end-use industry into, residential, commercial, and infrastructure.
Based on product type, the polymer impregnated type accounted for a significant polymer concrete market share which can be attributed to its popularity across the globe and wide availability. Polymer impregnated polymer is broadly utilized for applications such as concrete bridges, floors, walls, and other marine construction applications, due to its improvised structural properties, high resistance to water absorption and permeability properties. Polymer Portland cement concrete has been gaining popularity due to its extensive utilization in precast construction and floor construction application. Polymer resin concrete possess several advantages such as high impact resistance, high compressive strength and high resistance to chemicals. Based on material type, epoxy accounted for a major polymer concrete market share owing to various factors such as durability, and concrete shrinkage reduction. It is used for industrial flooring, anti-skid overlays, and resurfacing materials. Acrylic material has also been gaining immense popularity across the globe which can be attributed to the enhanced strength, improved workability, and freeze-thaw resistance. Whereas, polyester material when added to concrete decreases carbonation in concrete and reduces loss of alkalinity. The demand for polymer concrete in the infrastructure segment is expected to grow significantly over the coming years owing to various factors such as increasing urbanization, rising government fundings and rapid industrialization. This factor has increased the demand for infrastructure development, thereby propelling the adoption of polymer concrete.
The report provides a detailed overview of the global polymer concrete market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. Asia Pacific is estimated to account for a significant polymer concrete market share globally. Asia Pacific marks presence of significant construction market, worldwide. China is the world’s largest construction market, which is highly leveraged and supported by the country’s government policies. The government of China invested US$ 1.9 billion in 13 public housing projects in 2019. According to the Ministry of Land, Infrastructure and Transport, the civilian and public work contracts in South Korea reached a value of US$ 238.0 billion in 2021. Europe is also expected to witness considerable growth with the increasing demand for high-performance construction materials. The construction industry in Europe has been growing due to increased investments and initiatives by the government. Atradius Collections projected a 3% rise in construction output in France in 2022, after a contraction of 14% in 2020. The aforementioned factors are likely to boost the demand for polymer concrete in Europe.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
Partnership, acquisitions and new product launches were found to be the major strategies adopted by the players operating in the global polymer concrete market.
In January, 2022, Wacker Chemie AG expanded technical support for construction industry by opening Moscow Laboratory for cement and concrete additives. The strategy aimed to study and test the raw materials used in cement and concrete, thus offering comprehensive service to customers.
In April, 2021, Sika AG announced expansion of concrete admixture facility and epoxy production line in Qatar, due to rapid infrastructure development.
IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION
The COVID-19 pandemic adversely impacted the global economy and slowed down the growth of various industries. The shutdown of multiple manufacturing plants and factories in North America, Europe, Asia Pacific, South America, and the Middle East & Africa affected the global supply chain. This, subsequently, hampered the manufacturing, delivery schedules, and sales of various goods. Polymer concrete market experienced a slump during the pandemic owing to the halt in construction activities across the globe. Construction projects were terminated or suspended globally in 2020, which led to additional costs for construction businesses. construction activities also witnessed a decline during this period owing to the shortage of raw materials and limited supply of labor. However, governments took several mitigation measures to reduce the negative impact of the pandemic on construction industry. For instance, in December 2020, the Supreme Court of the Kingdom of Saudi Arabia passed a decision for limiting the quantity of construction material supply to an extent where it is only sufficient to move the project forward. Therefore, the polymer concrete market has recovered quite well from the aftermath of the pandemic and is expected to grow over the coming years.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Some of the key players operating in the polymer concrete market include, Sika AG, BASF SE, Dudick Inc, Fosroc International Ltd, The Dow Chemical Company, Kwik Bond Polymers, Ulma Architectural Solutions, Wacker Chemie AG, Sauereisen Hubbell Inc, and Bechtel Corporation, among others.
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
This text is related
to segments covered.
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
This text is related
to country scope.
The List of Companies
1. BASF SE
2. Sika AG
3. The Dow Chemical Company
4. Dudick Inc.
6. Kwik Bond Polymers
7. Fosroc International Ltd.
8. Crown Polymers Corporation
10. Hubbell, Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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