Cast polymers are made up of different polymeric substances and are available in various types. The total market revenue of cast polymers by types which include composites and cultures stones was estimated to be $7930.6 million in 2017 and is anticipated to grow at a CAGR of 7.19% during the forecast period 2018-23. The increase in population across the globe and advances in economy has led to the use of modern housing appliances thereby boosting the demand for cast polymer. However, the cast polymer market is dominant in APAC region due to rapid industrialization and growth in manufacturing industries which involve the use of cast polymers. The engineered composites generated over $2518.24 million in revenues in 2017 and is anticipated to further grow at a CAGR of 7.0% during the forecast period 2018-23
What are Cast Polymers?
Cast polymers are manufactured by combining natural marble or granite with resins or tints. This results in natural looking pattern enhancing the appearance of the marble and is called as cultured stone. The different types of cast polymers include engineered composites, solid surface materials and engineered stones. Engineered stones are less porous and harder than any type of natural stone. Cast polymers are preferred over conventional polymers as they have attained properties such as brittleness, stain resistance and many others. The different materials used in cast polymers include alumina trihydrate, calcium carbonate, resins, natural stones, silica and others. The two types of resins used are acrylic and polyester.
This report incorporates in depth assessment of cast polymer market by materials, type, applications and geography.
What are the major applications of Cast Polymers?
Cast polymers possess number of advantages such as minimal maintenance, resistant to stain, moisture and other damage caused by wear and tear. Hence, they are used in commercial, industrial, residential and medical areas. Cast polymers are widely used in flooring, sinks, bathtubs, countertops, window sills, vanities and wall panels. Cast polymers are widely used in remodeling of commercial and residential buildings.
Market Research and Market Trends of Cast Polymers
- The increasing demand for adoption of green fillers and resins in the cast polymer industry is an emerging trend in the cast polymer market. The demand is majorly due to initiatives introduced by Leadership in Energy and Environmental Design programs which enables builders to get credit for incorporating recycled content.
- The reason for the upsurge in the cast polymer market is the popularity in decorative architectural application which involves the use of aesthetically pleasing designs with various colors and shapes to beautify the homes.
- The automation in the manufacturing techniques of cast polymer will aid to avoid health hazards caused due to the use of silica based composites which are otherwise caused by manual manufacturing. The new automated manufacturing techniques adopted would reduce the wastage of material, increases consistency and quality of the product. This would lead the players to invest extensively in research and development in order to reduce the cost of the product and meet the demands.
- Manufacturers have also started to use different techniques to print images on to the slabs and other curved surfaces such as wash basins, shower bases etc. This allows the consumers to have their own customized images on different surfaces.
- As there are relatively low number of players operating in the market, it makes a way for new players to enter the emerging markets in Asia Pacific. In addition, availability of low cost labor and low procurement costs in developing countries provide a wide scope for growth in the market. The existing players also have a huge opportunity to expand their foot print in the emerging economies.
Who are the Major Players in Cast Polymers market?
The companies referred in the market research report includes Key industry players in the cast polymers market are E. I. Du Pont de Nemours and Company (U.S), Caesarstone Sdot-Yam, US Marble Inc., Bardley Corporation, KingKonree International Surface Industrial Co., Ltd. and CORITEC and many others
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The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2024.
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