In 2018, the Construction Industry Value Chain report of the International Finance Corporation, which works under the World Bank, had said that more than 75% of the infrastructure needed in 2050 hasn’t even been constructed yet. This reflects a massive growth in the global construction industry in the coming years, which would propel the demand for all kinds of construction chemicals and materials. One of the most-important such materials is concrete, which forms the literal ‘building blocks’ of buildings and other pieces of infrastructure.
This is why the polymer concrete market size has been projected by P&S Intelligence to rise to $2,964.0 million by 2023 from $1,975.8 million in 2017, at a 7.1% CAGR between 2018 and 2023. This is because with the increasing focus on the safety and durability of structures, conventional concrete is being replaced with polymer concrete. Such material uses a polymer to bind everything together, instead of lime-type cements. The key advantages of polymer concrete are high flexural, compressive, and tensile strength, longer durability with regards to thaw and freeze cycles, strong chemical and corrosion resistance, and good adhesion.
The three major types of polymer concrete are vinyl ester, epoxy, and polyester, of which epoxy variants are used the most widely. This is because epoxy-based polymer concrete has low shrinkage and it is quick to set. This becomes helpful when repairing structures that can’t be closed off for too long, such as airport runways. At large airports, hundreds of flights take-off and land each day, and for those with fewer-than-adequate runways, quick maintenance is necessary.
Presently, North America is the largest polymer concrete market because of the increasing infrastructure repair activities here. All pieces of civil, commercial, industrial, and residential infrastructure are strongly regulated and thoroughly inspected for safety and longevity. As a result, several infrastructure repair projects are underway in the region, along with those involving fresh construction. Moreover, several construction chemical companies operate in the region, which leads to an easy availability of advanced materials, including polymer concrete.
Hence, with the focus shifting to high-performance structures, the demand for polymer concrete will increase.
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