10 August 2010 20:06 [Source: ICIS news]
HOUSTON (ICIS)--Global demand for cast polymers is forecast to increase at an annual rate of 8.7% through 2014, driven mainly by thriving construction markets in developing countries, a US market research firm said on Tuesday.
Annual cast polymers demand was projected to reach 256m square metres by 2014, with more than 180m square metres (70%) in Asia Pacific markets, according to the Freedonia Group.
Demand in the US and Western Europe was expected to rise with the recovery of the housing market, but the fastest growth was forecast in countries like China, India and Brazil.
Solid surface products, which incorporate either unsaturated polyester resins (UPR) or polymethyl methacrylate (PMMA), account for 65% of global cast polymer sales.
The remaining cast polymer market is made up of engineered stone and gelcoat composites, which also use UPR, PMMA or epoxy resins, but with different manufacturing techniques.
Cast polymer growth in Asian markets has benefited from the rapid emergence of low-cost manufacturers in the region, Cleveland, Ohio-based Freedonia said.
A growing number of these low-cost Asian cast polymer manufacturers are focusing on the export market, sources said.
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