Polymer Concrete Market

The global market is valued at USD 673.5 Million in 2023 and is projected to reach a value of USD 1260 Million by 2032 at a CAGR (Compound Annual Growth Rate) of 7.2% between 2024 and 2032.

Key Highlights

• The market was largely led by the Asia Pacific region in 2023, accounting for 41.5% of the total share,
• The North American region is anticipated to observe significant growth over the forecast period,
• The Polymer Modified Concrete segment significantly contributed to the market’s expansion in 2023,
• The Epoxy segment took the lead in the market, contributing 30.5% of revenue share in 2023,
• In 2023, the Residential segment played a crucial role in the market’s growth, representing the majority of the revenue share, i.e., 47.1%,
• Companies are developing new formulations and technologies that improve the mechanical properties and performance , thus leading to broader applications and increased adoption of polymer concrete mix.

Regional Overview

In 2023, the Asia Pacific showed a significant dominance with 41.5% of its revenues. Due to the region's significant infrastructure development and urbanization, the Asia Pacific polymer cement market is growing rapidly. Countries such as China and India, who are leading the way in large-scale construction projects, are driving demand for durable and high-performance materials. In this respect, due to its resistance to harsh weather conditions and corrosion, effective Polymer Concrete is gaining importance. Moreover, more industries are adopting concrete mixtures focussed on sustainability and energy efficiency. Due to its chemical and acid resistance, a strong manufacturing industry for electronics and petrochemicals is also resulting in the particular demand across regions. As governments across the Asia Pacific invest in infrastructure and industrial growth, the market is poised to expand further.

China Market Overview

The market in China, with a valuation of USD 289 Million in 2023, is projected to reach around USD 551 Million by 2032. This estimate shows a strong Compound Annual Growth Rate (CAGR) of 7.5% from 2024 to 2032. In China, where the country is developing an extensive infrastructure and rapidly urbanizing, the market has been booming. There is increasing demand for durable, weather-resilient concrete materials with huge infrastructure projects like HSR networks, highways, and the development of cities. China's robust manufacturing and industrial sectors also fuel the need for chemical-resistant and corrosion-resistant concrete. As China invests in sustainable construction and industrial growth, the market is expected to grow substantially.

Class Overview

In 2023, significant expansion was observed in Polymer Modified Concrete category. The Class segment is segmented into Polymer Modified Concrete, Polymer Resin Concrete, and Polymer Impregnated Concrete. A significant part of the global market, which offers improved durability and flexibility in a wide range of construction applications, is represented by polymer-modified concrete. This segment focuses on concrete, modified with polymer bases to improve properties such as strength, flexibility, and resistance to weather and chemicals. In infrastructure projects like roads, bridges and airport runways where durability is important, the use of polymer reinforced concrete is often used. The construction of bridge deck overlays is one of the most notable examples of polymer-modified concrete in action. Engineers can prolong bridge decks' life and reduce maintenance costs while enhancing their resistance to corrosion and environmental stressors through the use of polymerized concrete.

Type Overview

There was remarkable growth in the Epoxy segment, with 30.5% of the market share in 2023. Based on the Type, the market is categorized into Epoxy, Latex, Acrylate, Polyester, Vinyl, Furan, and Others (Phenolic-Formaldehyde, Acetone-Formaldehyde, Carbamide). Epoxy-based concretes utilizes epoxy resin as a binder, offering superior adhesion and chemical resistance compared to traditional concrete. This segment finds application in industrial settings, including chemical processing plants, where high resistance to corrosion and chemicals is essential mainly in industrial flooring construction. In environments like manufacturing facilities and warehouses, where heavy machinery and chemical spills are common, epoxy-based concrete also provides a durable and long-lasting flooring solution.

End-use Industry Overview

In 2023, the Residential segment accounted for 47.1% share in the overall market. The End-use Industry segment is divided into Residential, Non-residential, and Infrastructure. Several advantages, including resistance to weather damage, reduction in maintenance, and increased strength compared with ordinary concrete, are offered by Polymer Concrete for the homeowner. It is suitable for various residential applications, e.g., parking spaces, pathways, and patios, due to its flexibility, enabling creative designs and decorative finishes. Further the usage in the manufacture of custom-designed countertops is one of the most important applications of these concretes in the residential sector. The surfaces of these countertops are durable and stain-resistant, with the added advantage that they can be customized in terms of color and texture.

Key Trends

1. The demand for concrete with a lower carbon footprint and recycled content is increasing as sustainability becomes an increasingly important feature of construction and infrastructure. Companies are innovating to create environmentally friendly solutions.
2. Demand for durable, weather-resistant concrete is driven by large infrastructure projects. Moreover, the use of concrete for durability and wear resistance is increasing in applications such as bridges, airfields, roads, or airports.
3. Industries such as petrochemicals, wastewater treatment, and chemical processing are increasingly attracted by the chemical resistance of the mixture.
4. As companies prioritize supply chain resilience, reshoring and local manufacturing are gaining traction. This trend is prompting more localized production, which reduces transportation costs and contributes to a smaller carbon footprint.
5. Stricter environmental regulations and safety standards impact the Polymer Concrete market. Companies are aligning their products with these regulations, driving innovation in sustainable and safe solutions.

Premium Insights

The construction sector is becoming increasingly focused on eco-friendly materials and energy efficiency, and the concrete proves to be a very good fit for this need. It offers several sustainability advantages, e.g., recyclability, CO2 emissions reduction, and extended life compared to conventional construction materials. Due to its durability, corrosion resistance, and improved strength properties, this product has become increasingly popular in the construction industry. High-performance materials that can cope with the extremes of weather conditions are increasingly needed as infrastructure development projects become increasingly complex, providing longer-term solutions. Also, the use of Polymer Concrete in sectors such as petrochemicals, chemical processing, and wastewater treatment is being driven by a demand for chemical and acid resistance. It is a preferred option when it is necessary to protect against corrosion due to its high chemical resistance.

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Market Dynamics

Sika will increase production of polymers at its Sealy plant in Texas, marking the company's 2nd polymer-related investment in that state for five years. Polymers are key components used to make Sika® ViscoCrete®, the company’s high-performance, eco-friendly concrete admixture. This latest expansion in the USA and Canada is driven by increasing demand for Sika's concrete admixture. The major business opportunities for different Sika products will be created over the coming years by U.S. government initiatives such as the Infrastructure Investment and Jobs Act (IIJA) and the Inflation Reduction Act (IRA). Such initiatives aim to modernize America's infrastructure and combat climate change, leading to increased investments in large-scale infrastructure projects and the development of energy and water facilities. Additionally, efforts to move international manufacturing back to the U.S. fuel the construction of new factories, especially in the batteries and semiconductors industries.

Recently, Mapei, in Speke near Liverpool, celebrated the grand opening of its new Admixtures Plant with customers, colleagues, and industry journalists worldwide. The event featured special guest presentations by Charlie Luxton and Jasen Gauld and the launch of the Cube System, Mapei's new low-carbon concrete solution. Mapei's second production site in the United Kingdom is this new 3,200-square-meter facility at Speke, which offers local production for MAPEI. Warehouses, research laboratories, and offices are also part of this. During the grand opening, celebrity speaker Charlie Luxton, the founder of Charlie Luxton Design, and keynote speaker Jasen Gauld, National Concrete Solutions and Product Development Director at Aggregate Industries UK, spoke about sustainability in the construction industry. The event also included a presentation on Mapei Cube, a comprehensive range of solutions designed to reduce the environmental footprint of concrete production and use.

The global Polymer Concrete market can be categorized as Class, Type, End-use Industry, and Region.

Competitive Landscape

A mix of established industry leaders and new players focusing on innovation, product quality, and sustainability characterizes the worldwide market for polymer solid materials. Companies are investing in research and development to develop products with better durability, chemical resistance, and environmental benefits. Businesses are also increasing their offers to meet this demand, as building standards have become increasingly concerned with eco-friendly solutions. One example of competitive differentiation is seen in the development of low-carbon concrete. Companies are offering a greener alternative to conventional concrete, including recycled materials and energy reduction in production.

Recent Market Developments

Sika Acquires Kwik Bond Polymers

• In April 2024, Sika acquired Kwik Bond Polymers, LLC (KBP), a producer of polymer systems used to refurbish concrete infrastructure. KBP specializes in refurbishing bridge decks and has built a solid reputation for high-profile projects throughout the United States with over 30 years of experience. This acquisition aligns well with Sika's high-value products designed for concrete structure refurbishment.

Sika Expands Production of Sigunit®

• In December 2023, Sika launched new production lines for its concrete admixture, Sigunit®, in Kirchberg, located in the Canton of Berne. This move represents an investment in expanding manufacturing capabilities in its home market. The shotcrete accelerator, primarily used for tunnel construction and excavation stabilization, is now manufactured in Switzerland, allowing for more efficient supply to significant infrastructure projects like the second Gotthard road tunnel and other key tunnel projects in nearby countries.

The global Polymer Concrete market can be categorized as Product, Application, and Region.