Polymer Concrete Market to Witness 7.1% CAGR during 2018–2023

The construction industry has been witnessing swift growth since the past few years, especially when it comes to civil construction projects. The plays a crucial role in the global economy and activities pertaining to the industry are important for achieving socioeconomic development goals of providing employment, shelter, and infrastructure. Owing to this, governments of several countries are investing heavily in the development of civil construction projects, including buildings, water reservoirs, bridges, sewer systems, roads, airports, and tunnel. Take for instance Germany, which invested about $129.6 billion for the development of 189 strategic infrastructure projects in 2017.

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Because of all these factors, the demand for polymer concrete across the globe is growing as well. According to a P&S Intelligence report, the global polymer concrete market is projected to attain a revenue of $2,964.0 million by 2023, increasing from $1,975.8 million in 2017, advancing at a 7.1% CAGR during the forecast period (2018–2023). Polymer concrete is a mixture which makes use of types of epoxy binders for curing and hardening into places. It cures via a chemical reaction with the polymer material. Polymer concrete exhibits different kinds of beneficial properties according to the resin that is utilized for making it.

The demand for polymer concrete was the highest for civil infrastructure in the past, which can be owing to the growing number of infrastructural activities in emerging economies, including Brazil, China, and India. Geographically, North America has been the largest polymer concrete market in the past, which is primarily because of the growing number of repair and restoration in the region. Within North America, the U.S. has been the largest user of polymer concrete in the past. Moreover, due to increasing infrastructural activities, the demand for polymer concrete is projected to grow significantly in Middle East and Africa during the forecast period.