Polymer Binders Market Forecasts to 2028 – Global Analysis By Binder Type (Emulsion-Based, Solvent-Based and Water-Based), Product Types (Latex, Vinyl Acetate, Polyurethanes, Polyamides, Acrylics and Other Product Types), Application, End User and By Geography
According to Stratistics MRC, the Global Polymer Binders Market is accounted for $35.5 billion in 2022 and is expected to reach $55.3 billion by 2028 growing at a CAGR of 7.6% during the forecast period. A long chain of molecules with repeating structural units is referred to as a polymer binder. These chains have the ability to join tiny particles into polymers. Because they can enhance the mechanical and thermal properties of polymeric materials, polymer binders are significant. They are fundamental components of the building and coatings industries. These binders are extremely strong and have excellent tensile and flexural properties.
According to Japan's paint manufacturers association, the Japanese coatings market is worth about 5.2 Billion Euros, ranking number two in Asia. According to the Organization of International des Constructers automobiles (OICA) and the World Economic Forum Organization, the two top producing nations in the world for automobiles are the United States and China.
Market Dynamics:
Driver:
Increase in the infrastructure sector
Polymer binders are frequently used as coatings in structures, and infrastructure is a key factor in the growth of any region's economy. Increased infrastructure spending has an impact on the economy as a whole since it necessitates manufacturing and industrial development. Increased urbanization plans also benefit the market.
Restraint:
Lack of quality control
The absence of quality control in various applications is the major restraint of the market. Sometimes, when there is increased growth in the infrastructure, it leads to compromising the quality of polymer binders. Additionally, if the quality damages, customers may switch to the substitutes, which include paper and carpet items. Therefore, these are the factors impeding market growth.
Opportunity:
The increase in disposal income
The rising disposable income and per capita income of the local populations has prompted them to spend more on the value addition of their residences. Current market trends, such as favourable government policies and greater infrastructure investment, are likely to stimulate demand. The fluctuation in raw material prices is the primary cause of this lack of quality.
Threat:
High cost
Due to the higher costs associated with higher-quality raw materials, companies choose to utilize lower grade raw materials. Spray dying is another way that polymer binders are used, and it comes with risks. Due to the risks prevailing and large investment costs, the market growth will be restricted.
Covid-19 Impact
Due to the COVID-19 pandemic, the core end-use industries of polymer binders like the electrical, automotive, and construction industry were highly impacted. Due to supply chain disruptions like raw material delays or non-arrival, disrupted financial flows, and rising absenteeism among production line staff, OEMs have been forced to function at zero or partial capacity, resulting in lower demand and consumption during the pandemic.
The acrylic segment is expected to be the largest during the forecast period
The acrylic segment is estimated to have a lucrative growth, due to their good performance and low cost. Because of their strong structural adhesive qualities, acrylic polymer binders are an excellent choice for low-cost architectural coatings as well as other industries like the automotive and construction sectors. Thus, these factors have an impact on market expansion.
The coatings segment is expected to have the highest CAGR during the forecast period
The coatings segment is anticipated to witness the fastest CAGR growth during the forecast period, due to growing technological advancements in paints and coatings technologies. Paints and coatings made from polymer binders are extensively used in the building and construction sector, for both exterior and interior applications. Consequently, these aspects have an influence on market growth.
Region with Largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the rapidly growing infrastructural development. The presence of rapidly growing urbanization along with growing per capita paint consumption and the rising demand for coatings and adhesives in developing countries is predicted to drive the market demand in this region.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to rapid growth in the automotive industry. Increase in technological innovations and growing awareness about environmental safety and corporate social responsibility among the manufacturers are the elements impacting the region growth.
Key players in the market
Some of the key players profiled in the Polymer Binders Market include BASF, Celanese Corporation, Wacker Chemie AG , The Dow Chemical Company , Sicona Battery Technologies, Synthomer, TechniSoil Global, Inc., Dairen Chemical Corporation, Modfied Asphalt Solutions, Inc, Colas USA, Trinseo, Omnova Solutions Inc., Hindavi Solution Pvt.Ltd, Taogosei Co., Ltd., Arkema, Chemrez Technologies, Inc. and Visen Industries Limited.
Key Developments:
In March 2019, Wacker introduced new a set of polymer binders based on renewable sources. These products are launched with a thought to supply “improved solutions for moisture protection and are known for their lesser emission.”
In February 2019, BASF and Adani Group have signed a Memorandum of Understanding (MoU) on the eve of the Vibrant Gujarat Global Summit 2019 to evaluate a major joint investment in the acrylics value chain. This is looked upon as BASF’s largest investment in India by far.
In March 2018, BASF expanded the production of its brand JONCRYL emulsions from the Netherlands production site to meet the growing demand for inks, paper and cardboard applications in Europe.
Binder Types Covered:
• Emulsion-Based
• Solvent-Based
• Water-Based
Product Types Covered:
• Latex
• Vinyl Acetate
• Polyurethanes
• Polyamides
• Acrylics
• Other Product Types
Applications Covered:
• Packaging
• Consumer Goods
• Paper and Textiles
• Coatings
• Adhesives and Sealants
• Building materials
• Other Applications
End Users Covered:
• Building and Construction
• Electrical and Electronics
• Automotive
• Paints and Coatings
• Other End Users
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
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