Market Trends of Cast Polymer Industry
This section covers the major market trends shaping the Cast Polymer Market according to our research experts:
Growing Demand of Cast Polymers from Construction Industry
- Cast Polymer is an umbrella term referring to the production of "synthetic" cast products - generally either cultured marble, cultured onyx, cultured granite - but recently additional materials such as engineered stone and other polyester and acrylic resin based materials.
- Cast polymers are unique in the composites business and are intended to meet explicit quality necessities of an application. Cast polymer forming is utilized to create portions of any shape or size.
- Cast polymers are molded and hardened to a solid material in a variety of shapes that meet diverse design needs and makes it a best fit for construction industry.
- The increasing focus on infrastructure and customization in construction and manufacturing processes had a significant impact on the growing demand of cast polymers in construction industry.
- Additionally cast polymers are used in kitchen and bath surfaces such as countertops,wall panels, countertops, windowsills, sinks, tubs and shower bases.
- Hence, owing to the above-mentioned factors, the application of cast polymers from construction industry is likely to dominate during the forecast period.
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Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for cast polymer during the forecast period. The rising demand of cast polymer from construction industry with growing population in developing countries like India and China is expected to drive the demand for cast elastomers in this region.
- The largest producers of cast polymers are located in Asia-Pacific region.Some of the leading companies in the production of cast polymers are R.J. Marshall Company, Swan Corporation, Bradley Corporation, Link Composites Pvt. Ltd, and Huber Engineered Materials among others.
- Ruling Govt. Initiatives such as Housing for all the government's flagship scheme "PMAY" aims to build 20 million urban homes and 30 million rural houses by 2022, Smart Cities, etc. are fuelling the growth of the Urban Infrastructure and construction development.
- The availability of customized kitchen components at affordable prices, as compared to conventional kitchen components, is increasing their demand in the region like china and India, supporting the global trend.
- Owing to the above-mentioned factors, the market for cast polymer in the Asia-Pacific region is projected to grow significantly during the study period.
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