Polymeric Sand Market Trends

Growth Drivers

• High Investments in Road Construction – As per recent data, it was calculated that the public spending on highway and street construction in the United States has risen steadily during the last decade. In 2012, the public sector spent approximately USD 80 billion on such projects, which rose to around USD 100 billion in 2021. The urbanization has led the government to invest a lot of funds in the construction of roads and highways. This trend is subsequently anticipated to boost the demand for polymeric sand, as it is mainly used in pavement construction and auxiliary spaces along with roads, airports, and other infrastructure.

• Increased Growth in Real Estate – As per recent estimates, the revenue of real estate companies worldwide stood at USD 10 billion in 2021.
• Demand for Construction of Buildings – The construction of building and infrastructures brings the need of paved surfaced for the aesthetic look. Thus, the rising demand for construction processes is expected to bring lucrative growth opportunities for the market’s growth in the forecast period. As per data in 2020, there were 350,000 industrial buildings and 240,000 military buildings in the United States.
• Rapid Growth in the Chemical Industry – The global chemical industry in the year 2021, generated a revenue of approximately USD 5 trillion.

Challenges

• High Costs of Raw Materials - The high costs included in raw materials is expected to pose a challenge, as it becomes difficult for the population with middle income or startups to incorporate polymeric sand in use of varied construction processes.
• Long Production Cycles
• Low Level of Awareness Among the Population