Cast Polymers Market Size, Share, Growth Report 2032

Cast Polymers Market Size And Industry Analysis

The global cast polymers market size was worth USD 10,392.4 million in 2021 and is estimated to grow to USD 14,329.4 million by 2028, with a compound annual growth rate (CAGR) of roughly 5.5 percent over the forecast period. The report analyzes the cast polymers market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the cast polymers market.

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Cast Polymers Market: Overview

Cast polymer is a byproduct of the process of reinforcing materials to improve their physical characteristics. To increase their strength, cast polymers also go through a molding process. They are synthetically produced, and their chemical composition comprises linked polymers. They offer improved physical qualities over traditional polymers, namely brittleness and stain resistance. Cast polymers are formed into various shapes and then hardened to a solid material to satisfy various design requirements.

Cast polymers are employed in various residential and non-residential applications, including cultured granite, cultured onyx, cultured marble, and solid surface materials. With their excellent mechanical qualities, cast polymers are now favored. They can offer superior construction, premium raw materials, and stricter quality controls. Cast polymer market expansion is anticipated to be driven by the expanding global building and remodeling market and rising consumer demand for high-quality cast polymer products. The market is expanding due to increased use of wall panels, window sills, molding accents, showers, enclosure sets, lavatories, bathtubs, whirlpool baths, floor, tiles, countertops, and vanity tops. High raw material costs may impede market expansion.

COVID-19 Impact:

Almost every company in the world has had difficulties because of the outbreak. This is because many precautionary lockdowns and other limitations imposed by governing bodies worldwide have significantly disrupted each company's production and supply-chain operations. The market for cast polymers globally is not an exception. Additionally, as this pandemic has negatively impacted most people's budgets, people are now more focused on cutting back on non-essential expenditures, decreasing consumer demand. These variables are anticipated to impact the forecast period's global cast polymers market's revenue trajectory. However, the global cast polymers industry is projected to recover as regional regulatory authorities start to loosen these imposed limits.

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Key Insights

• As per the analysis shared by our research analyst, the global cast polymers market value is expected to grow at a CAGR of 5.5% over the forecast period.
• In terms of revenue, the global cast polymers market size was valued at around USD 10,392.4 million in 2021 and is projected to reach USD 14,329.4  million by 2028.
• The growing expansion of the construction industry is the major factors driving the market's growth.
• By type, the engineered stone category dominated the market in 2021.
• By material, the calcium carbonate category dominated the market in 2021.
• Asia Pacific dominated the global cast polymers market in 2021.

Cast Polymers Market: Growth Drivers

The primary factors boosting the cast polymer market are affordable labor and the increasing global expansion of the building

One of the key drivers of the global cast polymer market's growth is the massive global expansion of the construction industry. For instance, the metropolitan population is increasing by 200,000 people daily, and each of them needs access to cheap housing. Additionally, it is projected that the availability of cheap labor in developing countries and the decreased cost of procurement and purchase will fuel the expansion of the global industry. Additionally, the increased demand for decorative architectural applications has been fueled by cast polymers being incredibly abundant and inexpensively available in various shapes and colors.

Cast Polymers Market: Restraints

Fluctuating prices of raw materials of polymer will hamper the growth of the market

Crude oil and natural gas are the primary basic materials used to produce polymers. Since producers pass on these changes to consumers, plastic ingredients and resin prices increase when oil or gas prices do. With the rise in demand for these commodities, there have been several supply-chain interruptions recently (for instance, because of harsh weather). The global pandemic has added to the problems by exerting significant pressure on several areas of the packaging industry. As a result, changes in domestic and international economic activity have a big impact on how much demand there is for resin and polymer products. People now have to reconsider their way of living due to rising living expenses.

Cast Polymers Market: Opportunity

Large-scale potential for the expansion of the global cast polymer market can be created by industrial automation

With the automation in casting procedures, there will be many chances in the global cast polymer market. The market is seeing an increase in demand for technologically advanced products like continuous casting systems from the auto caster. The creation of the polymer matrix needed for the fabrication of cast polymers can be automated with this technique. This device can significantly increase production, lower material costs, and improve the casted polymer quality. These fully integrated systems offer automated production of cultured marble and onyx, reduced output, and greater economic viability.

Cast Polymers Market: Segmentation

The global cast polymers market has been segmented into end user, type, material, and region.

Based on end-user, the global cast polymers market is segmented into non-residential and residential. The non-residential market category prevailed in 2021. Since these materials are used extensively in non-residential construction projects such as educational institutions, hospitals, government projects, and many others, the non-residential segment has experienced significant expansion at a healthy rate throughout the anticipated period. Additionally, cast polymers have important advantages like low upkeep, stain resistance, and many others; as a result, they are widely employed in non-commercial sectors.

Based on type, the global cast polymers market is segmented into solid surface, engineered stone, and cultured marble. The engineered stone category dominated the market in 2021. Engineered stones are made of low-viscosity orthophthalic unsaturated polyester resin, which has UV stabilizers to maintain color stability and gloss behind a surface gel coat. Additionally, it is projected that the high demand for engineered stones from the non-residential and residential sectors and the excellent performance offered by engineered stones will boost the expansion of the global cast polymer market.

Based on materials, the global cast polymers market is segmented into alumina trihydrate, calcium carbonate, resins, natural stone/quartz, and others. In 2021, the calcium carbonate segment dominated the market. The segment's main growth engine is the rising demand for paper from packaging applications and hygiene-related items like tissue paper. In the upcoming years, it is anticipated that the demand for calcium carbonate will increase due to rising residential and commercial construction due to urbanization and rising middle-class disposable income.

Cast Polymers Market: Regional Landscape

The Asia Pacific dominated the cast polymers market in 2021

The Asia-Pacific region dominates the industry due to countries like China, India, and Japan's growing industrialization. The market is driven by the area's greatest number of residential and commercial structures and the phenomenal expansion of the manufacturing industry. With the existing companies' significant R&D expenditures and rising disposable incomes across Asia, notably in China and Japan, the Asian market is expected to grow. Due to its enormous market, China will constantly experience the biggest share of overall gains. Cast polymer is anticipated to be extensively used in construction projects, and construction activity has significantly increased globally.

Cast Polymers Market: Competitive Landscape

Some of the main competitors dominating the global cast polymers market include- Breton S.p.A., Cosentino S.A., Bradley Corporation, Caesarstone Ltd., Oppein Home Group Inc., The R.J. Marshall Company, BLANCO, Huber Engineered Materials, AGCO, Inc., DuPont, Compac, and Kingkonree International Surface Industrial Co., Ltd., among others.

Report Scope:

Global Cast Polymers Market is segmented as follows:

By End User

• Non-residential
• Residential

By Type

• Solid Surface
• Engineered Stone
• Cultured Marble

By Material

• Alumina Trihydrate
• Calcium Carbonate
• Resins
• Natural Stone/Quartz
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa