”, the market is estimated to reach $2.7 Billion by 2023 at a CAGR of 6.3%.
U.S. held major market share and growth during 2018-2023
The United States of America holds the mammoth share for America Cast Polymers Market. The Market is anticipated to reach $854.14 million by 2023 with a CAGR of 6.30%. The key materials are Alumina Trihydrate, Calcium Carbonate, Resin molds, Natural Stone, and Silica among others.
Selected type of Opportunity Analysis done in the full report
Significant demand for modern housing units and nonresidential facilities to accommodate the needs of its growing population has driven the need for polymer casting.
Use of cast polymers in the Americas can be used in remodeling industry to improve the existing houses and buildings. Cast Polymers are extensively used in numerous applications that include countertops, molding accents, etc. According to Joint Center for Housing Studies of Harvard University, discretionary expenditure on kitchen and bath upgrades contributed 17% of the $192 billion in total homeowner spending in the U.S. Therefore, during the forecast period, rise of cast polymers in the remodeling industry will drive American market.
Increased utilization of cast polymers in remodeling and construction activities due to their availability in various colors, shapes, and types at affordable prices, has also contributed to the growth of Americas cast polymer market.
Moreover, the robust growth of the construction industry in the residential as well as commercial sector is also driving the market. Due to the presence of very few players in this market, demand from end-user industry exceeds supply. This acts as a big restraint on the growth of this market.
However, the availability of inexpensive labor and low procurement costs in developing countries are a great opportunity for the further growth of the market.
Many producers, especially those based in Asia, will take advantage of the region’s lower labor costs to produce solid surface materials and engineered quartz to export to the US market.
Moreover, limited U.S. engineered quartz production capacity will create additional opportunities for offshore producers.
As Americas have one of the major tourism industry in the world, various hotel projects are pipelined in this region which provides a huge opportunity for cast polymer products, owing to their great strength as well as aesthetic properties.
Cast polymers are extensively used in countertops, sinks, bath fittings and more. Moreover, this product is a perfect fit for the applications where design and aesthetic appeal are the primary concern.
Among all types of material, natural stone occupies the major share in imports as well as exports in the American region.
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Excerpts on Market Growth Factors Mentioned in the Full Report:
The Americas demand for cast polymer materials used in residential and commercial construction is substantial. Cast polymer surfaces continue to be a major part of the key kitchen and bath components of residential construction, while their market share for both residential and nonresidential application sectors is seeing an upward trend.
The market for cast polymers underwent a significant transformation over the past decade with engineered stone rising from a niche product to controlling over a quarter of sales.
The Market for engineered stone is set to see upsurge surge due to its resemblance to natural stone and its growing values as a high end material which adds value to the home.
The cast polymers market is growing, owing to the increasing performance advantages such as minimal maintenance requirements and resistance to stains, moisture and other damages.
Engineered Composites is estimated to be the fastest growing segment in the America Polymers.
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Key players of America Cast Polymers Market:
E.I. DuPont De Nemours and Company and Bradley Corporation are analyzed to be the dominant players of America Cast Polymers Market followed by Eastern Surfaces Inc and Huber Engineered Materials.
Browse Related Reports:
Cast Polymers Market: By Type (Solid Surface, Engineered Stone, Cultured Marble), By Material (Alumina Try Hydrate, Calcium Carbonate, Resins, Natural Stone/Quartz, silica),By Application, End User (Residential, Non-Residential) By Geography - Forecast (2018-2023)
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