The global cast polymers market, in this report is analyzed by types which include composites and cultures stones. The market is estimated to be worth $7930.6 million in 2017 and is anticipated to grow at a CAGR of 7.19% during the forecast period 2018-23.
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Asia-Pacific leading with major share in the Cast Polymers Market
Asia-Pacific is the dominating region for cast polymer market, owing to the higher consumption of this material in household appliances in this region. The growth in the APAC region can be attributed to the rapid industrialization in major countries of China and India, and other manufacturing industries influencing the demand for cast polymers.
The market is likely to grow in the future owing to the presence of numerous players that develop engineering stone and increase cast polymer industries in the region.
Selected Material Analysis done in the full Report:
Alumina Trihydrate used for producing cast polymers, credited a revenue of $1160.08 million in 2017 and it is forecast to reach $1807.81 million by 2023 at a CAGR of 7.75% from 2018-2023.
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This material enhances the fire resistance and flame retarding properties of the cast polymer products. Increasing demand for fire resistant cast polymers is set to drive the alumina trihydrate market during the forecast period.
Calcium carbonate is the major ingredient of Cast polymer is slated to grow at a CAGR of 7.09% and to experience a surge of $2899 million by 2023. Increase in the acceptance of cast polymer based products due to its wide range of properties at the residential and commercial level, especially in developing nations is driving the market.
Adoption of green polymer resin at a growing rate is set on expanding the market during the forecast period. The market is examined to lift at a CAGR of 9.56% from 2018-2023 projecting to $2386.04 million by the end of the period.
A slight amount of decline has been found out in the demand for the natural stone market for construction purposes. The world import value decreased from $755.21 million in 2014 to $508.15 million in 2017.
The market generated a revenue of $2417.20 million in 2017 and is expected to grow at CAGR of 6.68% and gain revenue of $3591.33 million by 2023. The findings say silica will witness least CAGR due to its harmful effects.
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Excerpts on Market Growth Factors
Conducting polymers are available in various colors, shapes and at affordable prices. Therefore, these are suitable and hence, are predominately used in remodeling purpose of old residential and commercial buildings and this eventually drives the usage rate.
Engineered stone products are considered to be green as 70% of the total content can be recycled. This alternative will play a major role in balancing raw material.
Huge investments are being made in infrastructures, for better products will be demanded for construction that will require less maintenance and more durability. Therefore, this will boost the use of polymers in residential as well as non-residential buildings.
Key players of the Cast Polymers Market
E.I. du Pont de Nemours and Company is the leading supplier in the cast polymer market, contributing to nearly 14% of the overall revenue. DuPont has its broad range of products, where expansion and innovation have been successful in providing variety of customers, and consequently filling their hold over the market.
Caesarstone Sdot-Yam accounting for 6% of the overall revenue. Cosentino S.A. and Kingkonree International Surface Industrial Co.
Ltd together accounting for 4% of the overall revenue for the cast polymer market. Bradley Corporation and Huber Engineered Materials are the followed companies with their major products like Lavatory Systems and Cultured Granite.
Looking forward towards the conclusion, the developing countries are in the run for opportunities for further growth of cast polymers market.
Cast Polymers Market report is segmented as below
Cast Polymers Market – By Materials
Cast Polymers Market – By Type
Solid Surface Materials
Cast Polymers Market – By Application
Repairs & Remodeling
Cast Polymers Market by Geography (covers 10+ countries)
Cast Polymers Market Entropy
Manufacturer Citied / Interviewed
- E. I. Du Pont De Nemours And Company
Eastern Surfaces, Inc.
The R.J. Marshall Company
The Swan Corporation
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