Polymer Concrete Market Size
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 2.63 Billion tons |
| Market Volume (2029) | 3.21 Billion tons |
| CAGR (2024 - 2029) | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Polymer Concrete Market Analysis
The Polymer Concrete Market size is estimated at 2.63 Billion tons in 2024, and is expected to reach 3.21 Billion tons by 2029, growing at a CAGR of greater than 4% during the forecast period (2024-2029).
COVID-19 had a negative impact on this market during 2020 and 2021 due to supply chain disruptions and the halt of construction activities. Lockdown measures and travel restrictions hampered infrastructure projects, thereby dampening the demand for polymer concrete in construction applications. However, the market is slowly recovering, and there is an expected positive growth in the polymer concrete market.
- The increasing demand for chemical-resistant construction materials and increasing overlay projects are expected to fuel the market growth.
- On the flip side, a need for more awareness about polymer concrete in emerging economies is anticipated to hinder the growth of the market over the forecast period.
- Further, the growing demand for polymer concrete in several end-user industries is likely to create lucrative growth opportunities for the global market in the future.
- North America dominated the market across the globe, with the largest consumption in a country such as the United States, Canada, etc.
Polymer Concrete Market Trends
Increasing Demand for Asphalt Pavement
- Asphalt concrete is commonly used to surface roads, parking lots, airports, as well as dams. Owing to the advancements in the construction industry, polymers are added to modify the viscoelastic behavior of asphalt cement.
- Polymer-modified hot mix asphalt cement is being used majorly in the growing road network. The primary benefit of using these high-performance asphalts is improved rutting resistance, with less thermal (cold-temperature) cracking and overall improved mixture durability being the secondary benefits.
- Additionally, some modified binders provide improved stripping (moisture damage) resistance. Elastomers (rubbers or elastics) and elastomers (plastics) are the most commonly used types. Styrene-butadiene rubber (SBR) and styrene-butadiene-styrene (SBS) are frequently used elastomers.
- According to the CIA(Central Intelligence Agency), from 2002 to 2023, the road network size worldwide accounts for 63.7 million km. It includes asphalt paved roads, also known as motorways, expressways, and so forth, accounting for the major demand for polymer concrete.
- According to the CIA, the United States, China, and India accounted for the majority of paved lane additions globally. Paved lane kilometers accounted for 76% of the total global road lane kilometers in the recent past.
- Additionally, the fraction of paved roads is expected to increase in the coming years. It is, thereby, increasing the demand for polymer concrete in asphalt pavement applications, driven by the increasing road traffic. Furthermore, global road traffic activity is expected to more than double to nearly 43 trillion annual vehicle kilometers by 2050, according to OECD (Organisation for Economic Cooperation and Development).
- Increasing investments to improve road connectivity is highly prioritized for any country, and this affects the development of the region. Increasing projects will demand for high use of asphalt concrete for road building. Under the Union Budget 2023-24, the Government of India allocated INR 2.7 trillion (USD 33 billion) to the Ministry of Road Transport and Highways.
- According to Global Infrastructure Hub, global road capital construction, reconstruction, and operations and maintenance costs for 2040 are by far the largest infrastructure spending, with annual capital costs mounting up to USD 1.3 trillion over the next 20 years. It is because developing countries are aiming to ramp up roadway construction to meet the travel demand.
- Therefore, owing to the trends above, the demand for polymer concrete is expected to increase, during the forecast period for asphalt pavements.
North America to Dominate the Market
- North America region is expected to dominate the market studied during the forecast period, with the United States holding the largest market share in revenue.
- According to the AGC (Associated General Contractors of America), the construction industry is a significant contributor to the US economy. The sector holds more than 919,000 construction establishments in the US in the 1st quarter of 2023, with over 8 million employees, creating nearly USD 2.1 trillion worth of structures each year. It is one of the largest customers for manufacturing, mining, and various services.
- The primary reasons for the industry's growth in this region include growing construction activities, new bridges in Clinton, Beaver, Clearfield, etc., and rising road construction activities.
- The construction industry in the United States continued to expand recently, owing to a strong economy and positive market fundamentals for commercial real estate, along with increased federal and state funding for public works and institutional buildings.
- According to AIA (American Institute of Architects), the market size of the global construction market is estimated to be USD 14.4 trillion in 2030. The subsequent increase will enhance the polymer concrete market's growth during the forecast period.
- Additionally, healthcare construction is expected to rise by around 5% in the region. Building in the commercial sector is expected to increase by 2%, with office construction taking the lead at about 6%, followed by retail building at 1%.
- Roads in the US are mostly asphalt paved, and according to SAPA Inc. (State Asphalt Pavement Association), the asphalt industry stands as the United States' leading recycler, with asphalt paving accounting for 94% of the country's 2.27 million miles of paved roads. It includes 65% of the interstate highway system.
- Due to the factors above, the demand for polymer concrete will increase in the region during the forecast period.
Polymer Concrete Industry Overview
The polymer concrete market is fragmented in nature. The major players (not in any particular order) include ACO FUNKI A/S, BASF SE, Polycare Namibia., ULMA Architectural Solutions, and Interplastic Corporation, among others.
Polymer Concrete Market Leaders
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BASF SE
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Interplastic Corporation
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ULMA Architectural Solutions
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ACO FUNKI A/S
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Polycare Namibia
*Disclaimer: Major Players sorted in no particular order
Polymer Concrete Market News
- November 2023: Sika Expands Production of Polymers for Concrete Admixtures at Texas Site. This latest move marks its second polymer investment in the state of Texas in just five years.
- January 2022: WACKER established an Innovation Hub for Cement and Concrete in Moscow. It is to enhance the durability of cement and concrete products against moisture damage, both during application and storage.
Polymer Concrete Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Need for Chemical Resistant Construction Material
4.1.2 Increasing Overlay Projects in North America
4.1.3 High Demand for Lightweight Materials in End-user Industries
4.2 Restraints
4.2.1 Lack of Awareness about Polymer Concrete in Developing Economies
4.2.2 Lack of Raw Material Availability
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size In Volume)
5.1 Polymer Type
5.1.1 Epoxy
5.1.2 Polyester
5.1.3 Methyl Methacrylate
5.1.4 Latex
5.1.5 Acrylate
5.1.6 Other Polymer Types (Furan, Phenolic-Formaldehyde, Acetone-Formaldehyde, and Carbamide)
5.2 Application
5.2.1 Asphalt Pavement
5.2.2 Building and Maintenance
5.2.3 Industrial Tanks
5.2.4 Prefabricated Products for Drainage Systems
5.2.5 Other Applications (Outdoor Furniture, and Solid Surface Counter and Overlays)
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 Italy
5.3.3.4 France
5.3.3.5 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/ Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 ACO FUNKI A/S
6.4.2 Arizona Polymer Flooring Inc. (ICP Building Solutions Group)
6.4.3 BASF SE
6.4.4 Dudick Inc.
6.4.5 FORTÉ COMPOSITES, INC.
6.4.6 Interplastic Corporation
6.4.7 Kwik Bond Polymers
6.4.8 Metro Cast Corporation
6.4.9 Polycare Namibia
6.4.10 TPP Manufacturing Sdn. Bhd.
6.4.11 ULMA Architectural Solutions
6.4.12 Wacker Chemie AG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Recovery of Construction Industry in Europe
7.2 Increasing Demand for Asphalt Concrete in Various End-user Industries
Polymer Concrete Industry Segmentation
Polymer concrete is a unique material formed by polymerizing a monomer or aggregate mixture. The polymer serves as a binder, holding the aggregate particles together. This type of concrete is produced by minimizing the voids between aggregates, reducing the amount of polymer required to bind the particles effectively. Polymer concrete offers a range of advantages over conventional Portland cement concrete. It possesses superior characteristics such as high compressive strength, rapid curing, exceptional specific strength, and chemical resistance, making it a versatile material used in various industries.
The polymer concrete market is segmented by polymer type, application, and geography. By polymer type, the market is segmented into epoxy, polyester, methyl methacrylate, latex, acrylate, and other polymer types(furan, phenolic-formaldehyde, acetone-formaldehyde, and carbamide). By application, the market is segmented into asphalt pavement, building and maintenance, industrial tanks, prefabricated products for drainage systems, and other applications(outdoor furniture and solid surface counters and overlays). The report also covers the market sizes and forecasts for the polymer concrete market in 15 countries across major regions. For each segment, the market sizing and forecasts are done on the basis of volume(tons).
| Polymer Type | |
| Epoxy | |
| Polyester | |
| Methyl Methacrylate | |
| Latex | |
| Acrylate | |
| Other Polymer Types (Furan, Phenolic-Formaldehyde, Acetone-Formaldehyde, and Carbamide) |
| Application | |
| Asphalt Pavement | |
| Building and Maintenance | |
| Industrial Tanks | |
| Prefabricated Products for Drainage Systems | |
| Other Applications (Outdoor Furniture, and Solid Surface Counter and Overlays) |
| Geography | |||||||
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Polymer Concrete Market Research Faqs
How big is the Polymer Concrete Market?
The Polymer Concrete Market size is expected to reach 2.63 billion tons in 2024 and grow at a CAGR of greater than 4% to reach 3.21 billion tons by 2029.
What is the current Polymer Concrete Market size?
In 2024, the Polymer Concrete Market size is expected to reach 2.63 billion tons.
Who are the key players in Polymer Concrete Market?
BASF SE, Interplastic Corporation, ULMA Architectural Solutions, ACO FUNKI A/S and Polycare Namibia are the major companies operating in the Polymer Concrete Market.
Which is the fastest growing region in Polymer Concrete Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Polymer Concrete Market?
In 2024, the North America accounts for the largest market share in Polymer Concrete Market.
What years does this Polymer Concrete Market cover, and what was the market size in 2023?
In 2023, the Polymer Concrete Market size was estimated at 2.52 billion tons. The report covers the Polymer Concrete Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Polymer Concrete Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Polymer Concrete Industry Report
Statistics for the 2024 Polymer Concrete market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Polymer Concrete analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Polymer Concrete Market Report Snapshots
