Cast Polymers Market Trends

Growth Drivers

• Rising applications in medical industry - Cast polymers impede the development of mold and bacteria and are considered hygienic which makes them perfect for use in medical facilities.
  
  Additionally, hospital-acquired infections are at hike which makes it necessary to adopt effective solutions to maintain hygiene. For instance, according to the World Health Organization, every 7 patients out of 100 patients in acute-care hospitals in high-income countries along with 15 patients in low- and middle-income nations is predicted to acquire at least one HAI during their hospital stay. Hence, the cast polymers market is projected to grow over the years to come.
• Growing marine sector - Ships are usually prone to high risk of corrosion which might further cause huge loss of revenue and environment. Hence, cast polymers are often used in the marine sector owing to their water-resistant properties.
• Increasing popularity of casting resins - Epoxy resin coatings and casting are two different yet related substances that are used in the production of rubber, ABS, polypropylene, acrylic, nylon, and glass-filled nylon as they are an extremely resilient polymer that is resistant to deterioration from water and other environmental elements. Therefore, the cast polymers market revenue is set to rise.
• Adoption of sustainable practices - Cast polymer materials support environmental objectives as these products are manufactured from recycled materials, and have a longer lifespan, which eventually results in lower maintenance and replacement expenses making them an environmentally friendly option for building projects. As a consequence, the market is poised to have the highest growth in its revenue.

Challenges

• Presence of alternatives such as natural stone and wood - Many individuals believe that stone, which includes granite, marble, limestone, travertine, slate, and sandstone, performs better than a solid surface. It has always been regarded as a superior building material that embodies grandeur, character, and solidity. Natural stone is widely acknowledged as a durable, solid, and ageless building material that has been utilized in the construction of renowned historical buildings, monuments, and artwork worldwide.
  Additionally, wood offers exceptional barrier qualities and is free from toxins, allergies, isocyanates, plastic additives, latex, or dust.
• The expensive cost of cast polymers due to the involvement of intricate molds and skilled labor impedes market growth.
• Varying prices of raw materials such as fiberglass and aluminum trihydrate may increase the overall cost of production.