11:35 AMWhat is the future of Cast Polymers Market? Know Covid Impact on Size, Share & Forecasts
Mar 31,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Cast Polymers Market.
It was estimated prior to this unanticipated outbreak that the Cast Polymers Market was expected to grow at a CAGR of 2.9% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Cast Polymer is a universal term that refers to the production of synthetic cast products, either cultured marble, cultured onyx, or cultured granite. But recently it includes additional materials such as engineered stone and other polyester and acrylic resin-based materials.
Cast Polymers are of different types, such as solid surface, engineered stone, and cultured marble, which are used in various applications in non-residential and residential end-use markets.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the type, the market is segmented as solid surface, engineered stone, and cultured marble. The solid surface segment is expected to govern the market owing to its wide use of solid surface products in kitchen and bathroom applications.
Based on the material type, the cast polymers market is segmented as alumina trihydrate, calcium carbonate, resin, natural stone/quartz, and others. The alumina trihydrate segment dominates the market, on account of its excellent properties such as such as high durability and scratch resistance.
Based on the end-user type, the cast polymers market is segmented as non-residential and residential. The non-residential segment is expected to govern the market due to its rise in demand for these materials from non-residential constructions such as hospitals, and schools, among others.
In terms of regions, Asia-Pacific is estimated to be the fastest-growing cast polymers market during the forecast period, with rapid industrialization in the region and rise in demand for cast polymers from non-residential units such as corporate offices, public toilets, malls and shopping complexes, hospitals, and schools, driving the market. China and India are the key growth engines of the market. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Some of the major cast polymer manufacturers are-
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