Cast Polymers Market Size, Share and Trends 2024 to 2034

Cast Polymers Market Size and Forecast 2024 to 2034

The global cast polymers market size is projected to be worth around USD 25.57 billion by 2034 from USD 12.95 billion in 2024, at a CAGR of 7.04% from 2024 to 2034. The increasing trend of luxury houses among rich people around the world has driven the growth of the cast polymers market.

Cast Polymers Market Key Takeaways

• Asia Pacific led the global cast polymers market with the largest market share of 46% in 2023.
• North America is expected to grow at the fastest CAGR during the forecast period.
• By material, the alumina trihydrate segment held a notable share of the market in 2023.
• By type, the engineered stone segment held a significant share of the market in 2023.
• By type, the solid surface segment is expected to grow at a notable rate in the market during the forecast period.
• By application, the countertops segment dominated the market in 2023.
• By application, the vanity tops segment holds a significant share of the global market.
• By end-user, the residential segment contributed the biggest market share of 49% in 2023.
• By end-user, the commercial segment is expected to grow at a notable rate in the market during the forecast period.

Asia Pacific Cast Polymers Market Size and Growth 2024 to 2034

The Asia Pacific cast polymers market size was exhibited at USD 5.57 billion in 2023 and is projected to be worth around USD 11.89 billion by 2034, poised to grow at a CAGR of 7.13% from 2024 to 2034.

Asia Pacific led the global cast polymers market in 2023. The growing emphasis on developing the construction industry in countries such as China, India, Japan, South Korea, Taiwan, and some others has increased the demand for cast polymers to cater to different customers. Also, the rising development in the infrastructural sector, along with the ongoing trend of bungalows and farmhouses, boosts the market growth.

• In October 2023, the government of India announced an investment of around USD 4.79 billion for developing the construction sector across the country.

The availability of raw materials such as alumina trihydrate, calcium carbonate, resins, and natural stone that are crucial for the production of cast polymers has contributed to industrial growth. Moreover, the rise in the number of schools and hospitals has increased the demand for cast polymer-based products in this region, thereby boosting market growth.

This region comprises several local companies of cast polymers, such as Swan Corporation and Link Composites Pvt. Ltd, Kyodo Chemical Co., Ltd., Zhong tian, Hyundai L&C, and others are constantly developing cast polymer products for numerous end-users in Asia Pacific, which in turn is expected to foster the growth of the cast polymers market.

• In February 2023, Hyundai L&C launched Optimo. Optimo is a series of engineered stone collection that comes with unique design patterns and large dimensions.

North America is expected to grow at the fastest CAGR in the cast polymers market during the forecast period. The rise in the number of residential constructions in Canada and the U.S. has increased the demand for cast polymers. Also, the trend of luxurious corporate offices and premium financial institutions has increased the application of engineered stone and solid surfaces.

The development of new airports and the construction of new hotel chains increase the demand for Countertops, Sinks and Basins, Shower Pans, Vanity Tops, Walls Tub Surrounds, and some others, which, in turn, increases the demand for the cast polymers market. Moreover, the refurbishment of old government buildings, along with the rising disposable income of people.

• In April 2024, the U.S. Department of Transportation’s Federal Aviation Administration (FAA) announced that it would invest around USD 6.4 million in constructing a new airport in Colorado.

North America hosts various market players in cast polymers, such as Dupont, Angstrom Engineering Inc., Huber Engineered Materials, and some others that are constantly engaged in developing high-grade cast polymers for different requirements. Moreover, these market players are adopting several strategies, such as partnerships, acquisitions, collaborations, launches, and business expansions, that are driving the growth of the cast polymers market in this region.

• In May 2022, DuPont Interconnect Solutions announced the inauguration of a manufacturing facility in Circleville, Ohio, U.S. This new production plant, which will manufacture Kapton polyimide film and Pyralux, was opened with an investment of USD 250 million.

Market Overview

The cast polymers market is an important industry in the chemical sector. This industry deals in manufacturing and developing cast polymers to cater to the needs of various consumers. The cast polymers are manufactured using various materials, including alumina trihydrate, calcium carbonate, resins, and natural stones. There are different types of cast polymers, such as solid surfaces, engineered stones, and cultured marble.

Cast polymers are used for various applications including countertops, vanity tops, sinks and basins, shower pans and walls, tub surrounds and others. The cast polymer industry comprises of several end-users consisting of residential, commercial and industrial. This market is expected to grow exponentially with the growth in construction and chemical industries.

The International Cast Polymer Association (ICPA) aims to enhance knowledge regarding the value of cast polymer to the industry. This organization arranged a 3-day program named ‘Polycon’ that will be held in the U.S. during October 2024.

Cast Polymers Market Growth Factors

• The application of cast polymer has increased due to its stability and longevity.
• Growing trend of designing home interiors.
• The proliferation of smart city projects around the world.
• There is an upsurge in demand for trendy countertops for kitchen remodeling.
• There is a rise in the number of showrooms that provide varieties of cast polymers.
• Developments associated with the construction industry.
• Rise in a number of government initiatives related to infrastructural development.
• Increasing use of solid surfaces in industrial settings.
• Technological advancements in the cast polymers industry.
• Increasing number of scientific laboratories across the world.

How Can AI Improve the Cast Polymers Market?

The cast polymers market has experienced several developments, including rising developments in technologies associated with molding methods. Nowadays, cast polymer manufacturing companies have started AI in their manufacturing facility to increase the efficiency of workers and enhance the quality control process. Also, the introduction of AI in the casting process helps to reduce the errors in the finished products made from cast polymers.

• In January 2023, Envalior launched Lucidiris. Lucidiris is an AI-based tool that helps in mechanical properties and predicting the color of polymer compounds.

Market Scope

Market Dynamics

Driver

The rising trend of cultured marble

The growing demand for aesthetics and good looks in homes has increased the application of cultured marble in residential. These marbles are used for several applications, including vanity tops, bathtubs, wall panels, shower stalls, tables, and some others. Also, the use of cultured marble has increased in residential and commercial settings due to its durability and affordability. Thus, the increasing trend of cultured marble is expected to drive the growth of the cast polymers market during the forecast period.

• In October 2023, Liang & Eimil launched faux marble-based side tables and coffee tables. These tables are designed aesthetically, along with a combination of practicality and luxury.

Restrain

High production costs and scarcity of raw materials

The cast polymers market faces numerous problems in its daily operations. The production cost of cast polymer-based products is very high, which causes the prices of the finished products to increase drastically, which, in turn, hampers industrial growth. Also, the raw materials required for molding cast polymers are rarely found in a few places on the earth.

Opportunity

Bio-based cast polymers

The research and development activities associated with the bio-based cast polymers market have increased in recent times. These materials are mainly derived from renewable sources such as plant wastes or algae. Some of the most important types of bio-based cast polymers include polyhydroxyalkanoates (PHAs), polylactic acid (PLA), cellulose, polybutylene succinate, and chitosan.

• In April 2024, CJ Biomaterials launched two new PHA-based compounds named ad PHACT CA1270P (clear) and PHACT™ CA1240PF. These two polymers are bio-based and act as a compostable alternative to traditional plastic films.

Material Insights

The alumina trihydrate segment held a notable share of the cast polymers market in 2023. The application of alumina trihydrate has increased as a smoke suppressant filler and flame retardant in polymers for manufacturing carpet backing and rubber products. Moreover, the popularity of alumina trihydrate in the polymer industry has increased due to its low cost and versatility.

Additionally, the advantages of alumina trihydrate, such as inertness, non-toxic, halogen-free, and low abrasiveness, along with the ability of alumina trihydrate in polymer processing at temperatures below 220’C is helpful for industrial growth. Furthermore, the rising application of alumina trihydrate on flooring applications associated with EPDM, PVC, and other polymers has shaped the industry in a positive way.

• In January 2023, ChemIndia made an announcement stating that the company will launch several varieties of products, including alumina hydrate and titanium dioxide.

Type Insights

The engineered stone segment held a significant share of the cast polymers market in 2023. The rising demand for engineered stones in kitchen and bathroom surfaces of houses has gained prominent attraction. Also, the growing use of engineered stone in manufacturing cast polymer products, including cultured onyx, cultured marble, and cultured granite, is integral for the market growth.

Moreover, the ability of engineered stones to provide enhanced resistance against knocks and scratches, along with their moisture-repellent capacity, has benefitted the industry in a positive way. Furthermore, the demand for engineered stones has increased due to their enhanced looks and superior durability as compared to natural stones.

• In July 2024, KalingaStone launched Elixir. Elixir is an engineered stone that enhances the beauty and functionality of modern houses.

The solid surface segment is expected to grow at a notable rate in the cast polymers market during the forecast period. The rising application of polymer-molded solid surfaces in manufacturing kitchen countertops has gained the utmost attention. Also, there are several benefits of solid surface products, such as less maintenance, waterproofing, and durability, and others have contributed significantly to industrial growth.

Moreover, the solid surfaces are manufactured using a combination of limestone and marbles with polymer resins that make it easier to clean and offer superior hygiene, which attracts customers at a growing pace. Furthermore, solid surfaces have a high resistance capacity against denting, abrasion, chipping, and staining.

• In June 2023, Wilsonart launched Wilsonart Solid Surface. This solid surface comes with several advantages, such as impact resistance, durability, and nearly effortless maintenance.

Application Insights

The countertops segment dominated the cast polymers market in 2023. The rising trend of investing in remodeling and refurbishing buildings has increased the demand for countertops, thereby increasing the demand for cast polymers. Also, the ongoing fascination of designer kitchens among women has increased the demand for kitchen countertops.

Moreover, the growing demand for spacious and aesthetic bathrooms from the residential and commercial sectors has increased the application of bathroom countertops. Furthermore, the increasing demand for countertops from restaurants and research laboratories is crucial for the industrial development of cast polymers.

• In March 2022, Daich Coatings launched the LuxROCK in Ontario, U.S. This product comes with attractive looks and enhanced durability to act like a real granite countertop.

The vanity tops segment holds a significant share of the global cast polymers market. The growing use of sink-integrated tops and vessel tops in bathrooms has increased the demand for vanity tops. Also, the application of vanity tops in making remodeling of the bathrooms easier, less expensive, and quicker has been integral for industrial growth. Moreover, the companies are manufacturing stylish vanity tops to attract global customers.

• In May 2024, Wolf Home Products launched a new engineered stone-based vanity top. These vanity tops feature enhanced durability, moisture resistance, ease of cleaning, and some others.

End-User Insights

The residential segment dominated the cast polymers market in 2023. The rise in the number of residential buildings around the world has increased the demand for cast polymers. Also, the growing application of solid surfaces in manufacturing kitchen and bathroom products due to less maintenance and increased durability is crucial for industrial growth. Moreover, the rising demand for luxurious aesthetics and enhanced looks in modern houses has increased the application of cast polymer-based products. Furthermore, the increasing use of cast polymers is due to lower costs than natural stone products, along with the upsurge in demand for grout-free house construction.

• In August 2022, Genesis Products, Inc. announced the acquisition of Native Hardwoods. This acquisition is aimed at expanding the solid surface division to double Genesis's countertop production capacity.

The commercial segment is expected to grow at a notable rate in the cast polymers market during the forecast period. The increase in the number of hospital buildings around the world has increased the demand for cast polymers. Also, the rising application of cast polymer-based products in the construction of luxurious hotels has contributed significantly to the market growth. Moreover, the growing demand for various types of sinks in modern schools is prominent for the industry to prosper in a positive direction. Furthermore, there is an upsurge in demand for designer cast polymer products due to the construction of several airports.

• In April 2024, the government of Dubai announced the inauguration of Al Maktoum International Airport. This airport will be constructed with an initial investment of USD 35 billion and will provide numerous modern facilities to passengers.
• In July 2023, Stance Healthcare launched Bleached Nuwood and Provence Nuwood, solid surfaces that enhance cleanability and durability in hospitals.

Cast Polymers Market Companies

• E. I. Du Pont De Nemours and Company
• Swan Corporation
• Link Composites Pvt. Ltd.
• Cosentino S.A.
• Oppein Home Group Inc.
• Huber Engineered Materials
• Breton S.P.A
• Danimer Scientific, Inc.
• Angstrom Engineering Inc.
• Sto SE & Co. KGaA
• LyondellBasell

Recent Developments

• In December 2023, Ecopol announced that it would invest an undisclosed amount in JRF technology. This investment is aimed at commercializing innovative bio-based and biodegradable delivery systems for various applications in end markets.
• In September 2023, Danimer Scientific announced to collaborate with Chevron Phillips. This collaboration is done with an aim to develop high-grade polymer extrusion films and other polymer-based materials.
• In March 2023, Antalis launched Master’in Performance blown hand stretch film. This new film is composed of high-performance polymer blends that offer puncture resistance and enhanced tack as compared to traditional cast films.
• In March 2022, Cosmo Films Ltd. launched cast polypropylene (CPP) film. This film is designed to address slippage issues in manufacturing pouches.

Segments Covered in the Report

By Material

• Alumina Trihydrate
• Calcium Carbonate
• Resins
• Natural Stone

By Type

• Solid Surface
• Engineered Stone
• Cultured Marble

By Application

• Countertops
• Vanity Tops
• Sinks & Basins
• Shower Pans & Walls
• Tub Surrounds

By End-User

• Residential
• Commercial
• Industrial

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa