In 2017, the global polymer concrete market generated
$1,975.8 million and is expected to attain $2,964.0 million in 2023,
registering a 7.1% CAGR during the forecast period (2018–2023). The market is
witnessing growth due to the rise in repair and maintenance activities and
increasing civil construction projects. An aggregate mixture which makes use of
epoxy binder to harden into place is referred to as polymer concrete. It can be
made with various kinds of polymer resins, such as polyester, vinyl-ester,
epoxy, and others, which allow concrete to be poured and then harden.
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In terms of application, the polymer concrete market
is categorized into pump bases, trench drain, containments & waste
containers, flooring blocks, and others (which include outdoor furniture,
overlays, solid surface counter, and park benches). Among these, the trench
drain category dominated the market during the historical period (2013–2017),
holding a share of more than 26.0% in 2017, in terms of value. The reason for
this is the growing construction of efficient drainage systems for catering to
the needs of the surging population around the world.
When end user is taken into consideration, the polymer
concrete market is divided into residential structure, civil
infrastructure, and non-residential structure. Out of these, the civil
infrastructure division dominated the market during the historical period,
accounting for a revenue share of more than 55.0% in 2017, and is projected to
retain its position during the forecast period. The reason for this is the
growing construction of civic infrastructural facilities, such as drainage
systems and roads, around the world. The fastest growth is predicted to be
witnessed by the non-residential structures during the forecast period.
The increasing number of civil construction projects is a
major driving factor of the polymer concrete market. The construction
industry creates jobs and channelizes investments and thus plays a significant
role in the economic development of a country. Therefore, the governments
around the world are increasing their investments in civil construction
projects, such as roads, buildings, airports, sewer systems, railways, water
reservoirs, bridges, tunnels, and others. For example, in Germany, 189
strategic infrastructure projects were in the developmental phase as of 2017,
with a total investment of $129.6 billion.
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Another factor driving the growth of the polymer concrete
market is the rising number of repair and maintenance activities. For
example, emergency repair of airport runways is quite disruptive for airport
operations; however, a rapid patch polymer concrete makes sure that the repair
is done in a very short time. Moreover, polymer concrete is utilized in a
variety of applications, including marine works, nuclear power plants, roads,
and waterproofing of buildings. Furthermore, advantages including high
resistance to chemical attack and abrasion, high impact resistance, and low
permeability are resulting in rising adoption of polymer concrete.
The rising awareness regarding the high performance of polymer
is a key trend being observed in the polymer concrete market. The
conventional and existing forms of concrete have several drawbacks, such as
high overall mass, high installation time, poor insulating properties, and
others, which is creating the need for high performance concrete. Since,
polymer concrete exhibits high-performance properties including high tensile
strength, high impact resistance, and others, its demand is projected to grow
in the coming years.
Hence, the market is growing due to the increasing number of
repair and maintenance activities and rising civil construction projects.
