Cast Polymers Market Anticipates To Grow At A CAGR Of 7.19%

Asia-Pacific is the dominating region for cast polymer market, owing to the higher consumption of this material in household appliances in this region. The growth in the APAC region can be attributed to the rapid industrialization in major countries of China and India, and other manufacturing industries influencing the demand for cast polymers. The market is likely to grow in the future owing to the presence of numerous players that develop engineering stone and increase cast polymer industries in the region.
Alumina Trihydrate used for producing cast polymers, credited a revenue of $1160.08 million in 2017 and it is forecast to reach $1807.81 million by 2023 at a CAGR of 7.75% from 2018-2023. This material enhances the fire resistance and flame retarding properties of the cast polymer products. Increasing demand for fire resistant cast polymers is set to drive the alumina trihydrate market during the forecast period. Calcium carbonate is the major ingredient of Cast polymer is slated to grow at a CAGR of 7.09% and to experience a surge of $2899 million by 2023. Increase in the acceptance of cast polymer based products due to its wide range of properties at the residential and commercial level, especially in developing nations is driving the market.
Adoption of green polymer resin at a growing rate is set on expanding the market during the forecast period. The market is examined to lift at a CAGR of 9.56% from 2018-2023 projecting to $2386.04 million by the end of the period. A slight amount of decline has been found out in the demand for the natural stone market for construction purposes. The world import value decreased from $755.21 million in 2014 to $508.15 million in 2017. The market generated a revenue of $2417.20 million in 2017 and is expected to grow at CAGR of 6.68% and gain revenue of $3591.33 million by 2023. The findings say silica will witness least CAGR due to its harmful effects.
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