Global cast polymer market is projected to observe a strong growth during the forecast period primarily owing to the huge growth in construction activities across the globe. By type, the engineered stones segment is expected to witness the fastest growth in the global industry by 2026. The Asia Pacific region is anticipated to dominate the market and create massive growth opportunities during the estimated period.
According to a latest report published by Research Dive, the global cast polymer market is estimated to surpass $15,480.0 million and grow at a CAGR of 5.6% in the forecast period from 2019 to 2026. The Asia Pacific cast polymer market is projected to dominate the global industry during the forecast period mainly due to the growing disposable income and heavy investment in R&D by established industry players in the region.
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• Key Segment Takeaways of the Market:
The report segments the global cast polymer market by Type, Material, End Use, and Region.
– By type, the global market is classified into cultured marble, solid surface, engineered stone. Among these the engineered stone segment is anticipated to grow at fastest rate during the forecasted period mainly because these stones consist of ultraviolet (UV) stabilizers to protect gloss & stability of color.
– By material, the global industry is categorized into calcium carbonate, natural stone/quartz, resins, and alumina trihydrate. Among these, the alumina trihydrate segment is expected to hold highest share in the global market by 2026 due to its versatile properties such as high durability and scratch resistance.
– By end-use, the global market is bifurcated into non-c and commercial. Among these, the non-residential segment is estimated to witness a significant growth in the projected timeframe owing to the increasing usage and huge demand for cast polymer in non-residential construction buildings such as government projects, hospitals, educational institutions, and many others
– By region, the global market is divided into North America, LAMEA, Asia Pacific, and Europe. The North America region is projected to grow at a healthy rate during the forecast period.
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• Market Dynamics
The rapidly growing constructions across the globe along with the availability of cost-effective labors are the major factors to propel the growth of the global cast polymer market during the forecast period. In addition, the growing popularity of decorative architectural applications and the availability of cast polymers multiple shapes & colors at low cost are other factors to drive the market growth by 2026. Furthermore, the technological product innovation and the automation in manufacturing process of cast polymers are likely to create enormous opportunities for the global market growth in the coming future. Conversely, the high costs associated with cast polymer products is expected to be a major threat for the market growth in the upcoming years.
• Key Market Players
The major players functioning in the global cast polymer market include Caesarstone, Cosentino S.A., The R.J. Marshall Company, DuPont, Huber Engineered Materials, Bradley Corporation, BLANCO, Oppein Home Group Inc., Compac Sorting Equipment, and AGCO Corporation. Further, the report outlines several aspects of all these industry players such as SWOT analysis, recent strategic moves & developments, financial performance, and product portfolio.
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