Rising Demand for Greater Quality & Technically-Advanced Home Decor Products to Drive the Growth of Cast Polymer Market
Cast Polymeris an umbrella term which covers various products such as cultured marble, cultured onyx, cultured granite and solid surface products used in numerous household as well as commercial applications. These products are man-made, mineral-filled and chemically–bonded polymeric materials that are shaped and toughened into solid form depending upon various needs of the customer. Cast polymer is easily maintainable and break resistant owing to their one-piece, seamless construction and also they are superior due their extraordinary mechanical properties.
Presently, cast polymer resins are extensively used in residential as well as non-residential segments. The products made from cast polymer provide enhanced construction, superior quality raw materials and greater quality control standards. Some of the major applications of cast polymers include counter tops, vanities, lavatories, shower receptors, enclosure sets, bathtubs, fireplace surrounds, window sills, floor tiles, wall panels, whirlpool baths, molding accents and more. Increasing demand in these home decor products is one of the major factors that is all set to drive the growth of
Moreover, the global cast polymer market is also driven by the prerequisite to produce technically advanced and superior-quality products. Owing to their availability in various shapes, colors, and types at affordable prices, there has been increased utilization of cast polymers in remodeling and construction activities which has immensely contributed to the growth of cast polymers in various regions. Escalating construction industry in commercial and residential sectors is also propelling the growth of this market. Also, low procurement costs and availability of inexpensive labor in developing countries are great opportunities for the further growth of the market. However, cast polymer market is fairly consolidated and presence of very few players in this market creates demand-supply imbalance (demand exceeds supply) which is a big restraint on its growth.
Currently, APAC accounts for the largest market share in cast polymers market and is anticipated to remain the biggest market for cast polymers in the near future too. This growth can be attributed to the rapid industrialization in major countries like China, India. Furthermore, nonresidential construction industry segment has emerged as the largest end-user segment for cast polymers market owing to rapid industrialization and urbanization globally.
The increasing demand for greater quality products and technically-advanced products is set to drive the cast polymers market.
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