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Global Cast Polymers Market is anticipated to rise at a CAGR of 7.19% and to achieve $11.85 billion by 2023.
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.
In the Report “Cast Polymers Market: By Material (Alumina Trihydrate, Calcium Carbonate, Resins, Others); By Type (Engineered Composites, Solid Surface Materials, Engineered Stone); By Application (Residential, Non Residential, Repairs & Re-modelling); By Geography - (2018-2023)” published by IndustryARC, the market is set to propel the demand across various regions of residential and commercial sectors due toconstruction activities along with the emerging use of fine quality household products.
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.
Cast Polymers Market 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. 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.
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.
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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 hasits 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.
Cast Polymers Market report is segmented as below:
A. Cast Polymers Market – By Materials
B. Cast Polymers Market – By Type
C. Cast Polymers Market – By Application
D. Cast Polymers Market by Geography (covers 10+ countries)
E. Cast Polymers Market Entropy
A. Precasting Market
B. Biopolymers Market
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