How Increasing Awareness on Quality Construction is Driving Polymer Concrete Market?

by Manish Kumar Digital Analyst Every year, around $10 trillion is spent on construction services and products, as per an article by McKinsey. Echoing the finding, PwC says that by 2030, the worldwide construction output will increase by almost 88% from the present value, to reach $15.5 trillion. This clearly reflects the burgeoning demand for various associated materials, such as concrete, which is the basis of almost every type of constructed structure, from buildings to roads. With time, people’s awareness on new and improved materials has increased, which is why polymer concrete is replacing conventional concrete.
The traditional material used in most places needs a long time to set, and it is also a poor insulator. Due to such disadvantages, the polymer concrete market is projected to grow to $2,964.0 million by 2023 from $1,975.8 million in 2017, at a 7.1 CAGR during 2018–2023 (forecast period). In such concrete, the lime-type cement in the binding material is replaced by a polymer resin. Compared to the conventional material, it offers higher tensile strength and impact resistance, which is pushing its demand around the world.

Since strength is of the highest importance, among vinyl ester, epoxy, and polyester, the epoxy type of concrete is the most popular among construction firms. Additionally, this material displays low shrinkage and quick setting properties, which reduces the project time and makes it cost-effective for builders. In the same vein, of the various classes of the material available — polymer-impregnated, polymer-modified, and polymer resin — the consumption of polymer-modified concrete is expected to increase the fastest in the coming years. Apart from high bond and flexural strength, it also shows appreciable resistance to freezing.

With time, along with construction, the usage of polymer concrete is also growing in repair and maintenance activities. For example, if an airport runway needs emergency repair, it has to be shut for operations, which throws flight operations out of gear. To quicken up the procedure and minimize losses for airlines, rapid-patch concrete is being used for emergency repairs. Apart from airports, this material is also finding widespread application at roads, kerbstones, nuclear plants, and marine platforms as well as for waterproofing buildings.

Up till now, North America has been the largest consumer of this material, owing to the increasing repair and maintenance activities being carried out in the region. Within the region, the U.S. has seen the higher usage of this product, and the situation is expected stay the same in the next few years. Owing to the burgeoning construction activities in developing countries, especially Saudi Arabia, the Middle East and Africa is predicted to be the fastest growing polymer concrete market in the coming time.

With economic prosperity, the urbanization rate in Saudi is escalating, and Jeddah, Riyadh, and Dammam are already quite densely populated. Additionally, the country is home to the two holiest Islamic sites — Medina and Mecca — which are visited by millions of devotees as well as tourists each year, particularly during the annual Hajj. Similarly, Dubai is preparing for the World Expo 2020, while Qatar is set to host the FIFA World Cup in 2022. All these activities have significantly raised the demand for residential and commercial infrastructure, which is leading to the rising consumption of polymer concrete in the region.

Therefore, with construction activities increasing around the world, along with people’s awareness about the shortcomings of traditional materials, the demand for polymer concrete is set to witness huge growth.

Sponsor Ads

• Ad Space Available - Rent it Now!

Created on Jun 3rd 2020 04:19. Viewed 307 times.

Comments