Global Market Analysis Report of Chemicals and Materials Industry: Size

Monday 19 August 2019

Trends 14:26

Why are Construction Firms Turning to Polymer Concrete?

As of 2017, 189 strategic infrastructure projects in Germany were in the development phase with a total investment of $129.6 billion. Similarly, in 2014, under the ‘Make in India’ initiative, an investment of $650.0 billion was estimated for urban infrastructure development in the country for the next 20 years. Governments of the world are increasing their investments in civil construction projects, such as buildings, water reservoirs, bridges, tunnels, roads, sewer systems, railways, and airports, as the construction industry helps in creating jobs and channelizing investments. Due to the growth that the construction industry is experiencing, the use of polymer concrete is also increasing.

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Polymer concrete is a composite material which hardens into place using an epoxy binder. Various kinds of polymer resins, such as polyester, vinyl ester, and epoxy, can be used to make the materials as they allow the concrete to be poured or troweled and then hardened. Polymer concrete has many advantages over traditional concrete, including high resistance to chemical attack, abrasion, freezing, thawing, and impact and high compressive strength. Due to these reasons, the polymer concrete market is expected to grow at a CAGR of 7.1% and reach a value of $2,964.0 million in the coming years. The increasing repair and maintenance activities are one of the primary reasons behind the growing demand for the substance.

In February 2018, the President of the U.S. rolled out a plan to repair and rebuild the nation’s infrastructure, including highways, seaports, bridges, airports, and railroads, with an investment of $2.0 trillion. Similarly, out of the 600,000 bridges in the U.S. almost 40.0% were more than 50 years old and 9.1% were structurally deficient in 2016. Due to these reasons, North America accounted for more than 20.0% of the worldwide revenue for companies manufacturing the substance in 2017. The material ensures that the repairing process doesn’t take much time. For example, rapid patch polymer concrete makes sure that emergency repairs of airport runways are done quickly so that not much disruption is caused to airport operations. In addition, polymer manufacturers in the region are also trying to enhance the properties of their products, such as chemical resistance, ease of installation, and toughness, which is resulting in a surging demand for polyester concrete for infrastructure and construction industries.

The various types of polymer concrete available are polyester, vinyl ester, and epoxy. Polyester resin is used as a binding agent instead of cement in polyester concrete, which provides flexural strength to the concrete. Vinyl ester polymer concrete is used for the chemical-resistant construction of containment areas, dikes, and sumps. In addition to having superior chemical resistance, this type of polymer concrete has low porosity, fast chemical set and less down time, and a maximum service temperature of 220-degree F. Up till now, the polymer concrete market for epoxy-based products has been the largest in terms of consumption because of their high physical strength and good bonding ability with metal surfaces and concrete. Applications which encounter high impact, chemical exposure, and heavy loads use this polymer concrete as it has superior mechanical and durable properties. Right click to shift

Manish Baghel 0

Friday 16 August 2019

Size 02:31

What are the Growth Prospects for Construction Chemicals Firms in Asia-Pacific?

“There is no historical precedent for an urban transition on such a massive scale.”, said the 2017 Urbanization and Sustainable Development in Asia and the Pacific report published by the Economic and Social Commission for Asia and the Pacific under the United Nations. As per the report, 2.1 billion people in Asia-Pacific (APAC) were living in urban areas in 2017, and between 2010 and 2040, another 1 billion are expected to move to the cities. The report further said that between 2014 and 2030, the number of megacities (cities with over 10 million residents) in the region will increase from 17 to 22. Interestingly, these megacities account for only a fraction of the region’s urban population, 54.4% of which was concentrated in small and mid-size cities in 2017, which also continue to grow in size.

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Now, though the total number of urban residents increased significantly between 1995 and 2014, so did the number of people living in urban slums. This clearly suggests a rapid demand for real estate, which, in turn, would naturally lead to the growing usage of construction chemicals in the region. The APAC construction chemicals market, which is already the largest across the world, is predicted to advance at a CAGR of 7.1% in the next few years to ultimately value $29,686.2 million. Adhesives, protective coatings, concrete admixtures, sealants, asphalt modifiers, asphalt additives, flame retardants, and flooring chemicals are among the numerous chemicals that go into constructing buildings and other infrastructure.

Among these, concrete admixtures are currently used the most as concrete is one of the most essentials construction material. As admixtures enhance the qualities of concrete, these are almost always used during construction; good-quality concrete is the first step to building a structure that stays unaffected in the face of sudden temperature changes, strong gusts of winds or earthquakes. This is why concrete admixtures are so important in the construction of skyscrapers, which have grown exponentially in APAC over the last 15–20 years. Earlier synonymous with American cities, most notably New York, skyscrapers are now a common feature in APAC. Just consider the transformation that Dubai, Shanghai, Hong Kong, and Guangzhou have undergone in the last decade or so, and the picture of the growing demand for such construction chemicals becomes clear.

This further substantiates the fact that China ranks as the top consumer of construction chemicals in the region; the country currently has the highest number of skyscrapers in the world, apart from the number of people. As both these continue to grow, so will the real estate sector, especially in urban areas. In terms of the rate at which the Asia Pacific construction chemicals market in individual countries is growing, India is set to outpace even China! The pace at which India’s population is growing is no secret, and same is the case with its cities. As per the World Population Prospects report published by the U.N. in 2019, the fastest population growth between 2019 and 2050 will be witnessed by just nine countries, including India.

Further, the rapid investments in the Indian infrastructure by the government and private firms is also raising the demand for construction chemicals. A classic example of infrastructure developments is the construction of metro railway systems in cities such as Delhi, Bangalore, Kolkata, Chennai, Mumbai, Lucknow, and Kochi and the expansion and construction of airports in Delhi and Mumbai. As per the 2018 Revision of World Urbanization Prospects published by the U.N., Delhi was already the second-largest megacity (cities with over 10 million population) in the world after Tokyo, with 29 million inhabitants as of 2018; the Indian capital is expected to be the most populous megacity by 2028.

Thus, the rapid increase in population and infrastructure development will continue to lead to the growth of the construction industry and the demand for various materials used for the purpose in APAC.

Manish Baghel 0