Global Cast Polymer Demand to Reach 256 Million Square Meters in 2014

Global demand for cast polymers is projected to increase 8.7 percent annually to 256 million square meters in 2014.  Approximately 60 percent of the gains will be attributable to China, a country with a quickly developing domestic cast polymer industry and a considerable construction sector.  China, along with other developing countries such as Brazil and India, has been building large volumes of modern housing units and nonresidential facilities each year to accommodate the needs of its growing population and ongoing economic development.  Global demand growth will also be aided by the recovery of new housing construction in the US and much of Western Europe, as well as Australia, Japan and South Korea, from low 2009 bases.  These and other trends, including market share and product segmentation, are presented in World Solid Surface & Other Cast Polymers, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.

In 2009, solid surface accounted for 65 percent of global cast polymer sales.  Approximately three-quarters of solid surface materials were sold in the Asia/Pacific region, where they are low-cost options because of limited color offerings and a highly competitive local production base.  Engineered stone  is expected to achieve the most rapid gains in demand through 2014, albeit from a much smaller base. 

The Asia/Pacific region, the largest market, accounted for two-thirds of global cast polymer sales in 2009.  Advances in this market are primarily driven by China, which accounted for 71 percent of the region’s cast polymer sales in 2009.  Gains will stem from residential trends such as the country’s ongoing urbanization and the development of a more modern housing stock, as well as the continued expansion and improvement of nonresidential building stock.  India is expected to see somewhat stronger gains through the forecast period as it also develops additional and more modern housing, schools, hospitals, transportation terminals and other.  However, gains, particularly in many of the least developed countries of the world, will be limited by the typically small size of the homes, and the limited ability to finance the use of higher-value building materials like cast polymers.

Western Europe and North America were the next largest markets in 2009, each accounting for more than ten percent of global sales.  Advances in both markets are expected to be aided by the projected recovery of the new housing market from a depressed 2009 base.  Going forward, cast polymer demand in these regions will be aided by their relative affluence, allowing residents to use higher-value building materials, and build more spacious homes and better-appointed nonresidential facilities.

The Freedonia Group is a leading international business research company, founded in 1985, that publishes more than 100 industry research studies annually. This industry analysis provides an unbiased outlook and a reliable assessment of an industry and includes product segmentation and demand forecasts, industry trends, demand history, threats and opportunities, competitive strategies, market share determinations and company profiles.