Cast Polymers Market is likely to witness an impressive CAGR of 4.8% during the forecast period 2023 to 2033 | Persistence Market Research
Surge in construction applications globally to amplify the demand for cast polymers: Opportunities ahead
New York, Feb. 08, 2023 (GLOBE NEWSWIRE) -- The Cast Polymers Market revenues were estimated at US$ 12 Billion in 2022 and are anticipated to grow at a CAGR of 4.8% from 2023-2033, according to a recently published Persistence Market Research report. By the end of 2033, the market is expected to reach a valuation of US$ 12.7 Billion. Solid Surface type of Cast Polymers in the Cast Polymers Market with a projected CAGR of 4.7% from 2023 to 2033.
The domestic renovation and repair industry will continue to account for a sizable amount of cast polymer demand, thus an increase in home remodeling activity and better credit availability will both help the cast polymer market expand. Cast polymer use is increasing in both residential and non-residential locations, which is the key factor driving the market's growth. This growth is primarily driven by the fastest-growing consumer markets in China and India as well as the resurgence of the residential and commercial construction industries in North America and Europe.
As a greener alternative cast polymers have expanded the vision by manufacturing polypropylene products. And in 2021, the global market volume of polypropylene has increased by 2.2 % and the market volume is expected to grow on a significant scale by 2029. This widened the market vision for cast polymers because organic products.
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Competitive Landscape
Players in the market are constantly developing improved analytical solutions as well as extending their product offerings Key players in the Cast Polymers Market are Breton SpA, Cosentino SA, Bradley Corporation, Caesarstone Ltd., Oppein Home Group Inc, The R.J. Marshall Company, BLANCO, DuPont, Huber Engineered Materials, AGCO Ltd.
Some of the recent developments in the Cast Polymers Market are:
In September 2022, Breton SpA and Ion Machines, Turkish company agreed to a joint venture which is aimed at producing resin systems for marble and granite slabs and tiles. These companies already have expertise in the manufacturing of marble and granite slabs. The joint venture is expected to help in the growth of the manufacturing volumes of granite slabs and tiles. The existing portfolio of products of Breton SpA is expected to grow and customer relations of this company are expected to help Ion Machines.
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In January 2022, Huber Engineering Materials, a USA-based company, acquired Natural Soda LLC. Natural Soda LLC., being a key producer of sodium bicarbonate, serves diverse industries. Products from Natural Soda complement HEM's diverse portfolio of specialty engineered materials. This acquisition enhances HEM's plan to establish HSM as a platform for specialty minerals. As sodium bicarbonate is used as a blowing agent in the production of cast polymers, the acquisition will help to increase the production of cast polymers.
In January 2022, DuPont having its manufacturing facility in Ohio, declared that the expansion of the manufacturing facility was completed. The production of cast polymers will be increased, thus ensuring a committed supply to meet the rising global demand, which includes products such as vanity tops, sinks, bathtubs, shower pans, and windowsills.
On the new manufacturing line in Circleville, DuPont's unique processing technique is used to create the advanced cast polymers, which have become industry standards and provide excellent performance, dependability, and longevity.
More Insights Available
Persistence Market Research, in its new offering, presents an unbiased analysis of the Cast Polymers Market, presenting historical market data (from 2018 to 2022) and forecast statistics from 2023 to 2033.
The study reveals extensive growth in Cast Polymers in terms of type (Solid Surface, Engineered Stone, Cultured Marble), in terms of end-users (Non-residential, residential), in terms of material type (Alumina Trihydrate, Calcium Carbonate, Resins, Natural Stone/Quartz), and in terms of Region (North America, Europe, Asia Pacific, Middle East, and Africa, Latin America) from 2023 to 2033.
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