Expansions, New Product Launches, Mergers & Acquisition, and Joint Ventures are the Key Development Strategies Adopted by Leading Market Players in the Global Polymer Concrete Market
Polymer concrete, due to its high impact resistance and compressive strength, is used as an important ingredient in infrastructural development and construction of residential and non-residential complexes. On the basis of resin type, it is classified into polyester, latex, epoxy, acrylate, vinyl, furan, carbamide, and others. It also exists in different classes based on the principles of their process technology. These include Polymer Modified Concrete (PMC), Polymer Resin Concrete (PC), and Polymer Impregnated Concrete (PIC). These concrete are used in numerous applications such as containments, pump bases, trench drains, flooring blocks, solid surface countertops, park benches, outdoor furniture, and waste containers. Growing consciousness regarding the use of polymers in concrete due to their high performance and multi-functionality is a major factor driving the market for polymer concrete globally. The growth in polymer concrete market is also catapulted by increasing spending on repair and maintenance and growth in infrastructural activities in emerging economies such as India, China, Brazil, Indonesia, etc. The global polymer concrete market is estimated at USD 448.1 Million in 2017 and is projected to reach USD 641.9 Million by 2022, at a CAGR of 7.5% between 2017 and 2022.
Key companies manufacturing polymer concrete were majorly involved in expansions to strengthen their positions in the market. It was the most preferred strategy adopted by the market players from 2013 to 2017. The polymer concrete market is growing at a significant pace and the increase in the number of expansions indicates that manufacturers are expanding their production facilities to establish a strong foothold in the polymer concrete market and cater the escalating demand for high quality construction chemicals products, especially in developing countries.
Mergers & acquisitions was the second-most preferred growth strategy by manufacturers. Major market players adopted this strategy to acquire small to medium-sized companies to expand their manufacturing facilities in the developing countries of APAC and Middle East & Africa due to their favorable demographics. With this, the companies can penetrate to a wider customer base, consolidating their position in the market.
Major manufacturers such as BASF (Germany), Sika (Switzerland), Mapei (Italy), Fosroc (UK), Dow Chemical (US), SAUEREISEN (US), Kwik Bond Polymers (US), Dudick (US), ErgonArmor (US), and Crown Polymers (US), among others, are profiled in this report. These companies have adopted various organic and inorganic growth strategies to become the major players in the global polymer concrete market.
BASF (Germany), Sika (Switzerland), Mapei (Italy), Fosroc (England), and Dow Chemical (US) are the leading players in the global polymer concrete market. These companies accounted for the highest number of strategic activities, with expansions, new product launches, mergers & acquisitions, and joint ventures being the most preferred strategies.
Sika was one of the top players in the global polymer concrete market. The company offers polymer concrete and its related products through concrete technology which comes under its construction business segment. Strong focus on energy-efficiency and cost-effectiveness has earned the company a strong customer base. For instance, in 2016, Sika expanded by starting its new production facilities to supply concrete admixtures and related products to many countries such as Australia, Thailand, Kuwait, the UAE, Saudi Arabia, and India.
BASF is another major manufacturing company for polymer concrete. In 2016, BASF started it new production plant to produce construction chemicals and concrete admixture in four countries, namely, The Philippines, Sri Lanka, India, and Vietnam. The aim for this massive expansion was to build the brand image of its Master Builders Solutions in Asian countries and expand its manufacturing capacities to cater the growing demand for construction chemicals in the Asia Pacific region.
Related Reports:
Polymer Concrete Market by Class (PMC, PC, PIC), Type (Epoxy, Polyester, Latex), Application (Containments, Pump Bases, Wastewater Containers), End-Use Industries (Infrastructures, Non-Residential Structures), and Region - Global Forecast to 2022
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