Market Research Future Published a Research Study on Redispersible Polymer Powder Market Research Report, Size, Share and Industry Analysis- Forecast to 2023
The emulsion based product manufactured by spray drying and surface treatment to develop thermosetting resin material is called redispersible polymer powder. This additive is utilized in various end-uses to impart aesthetic appearance, glossy finish, and others to the final product. Moreover, they also provide versatility and reliability to the product.
The global redispersible polymer powder market has been driven by the range of its application in various sectors such as acrylic, vinyl acetate ethylene, versatic acid redispersible polymer powder, and styrene butadiene polymer powder, and others. Moreover, it is estimated that the acrylic sub-segment is set to witness the highest growth in the market due to its growing demand in various end-user applications over the forecast period.
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Some of the major players functioning in the global redispersible polymer powder market are Wacker Chemie AG (Germany), The Dow Chemical Company (U.S.), Acquos (Australia), Akzo Nobel N.V. (the Netherlands), Ashland Global Holdings Inc. (U.S.), Hexion Inc. (U.S.), synthomer plc (U.K.), The Nippon Synthetic Chemical Industry Co., Ltd. (Japan), Bosson Union Tech (Beijing) Co.,Ltd (Belgium) and BASF SE (Germany) among others.
The global redispersible polymer powder market is segregated into the type, application, and end-use. On the basis of the type, the market is further categorized into acrylic, vinyl acetate ethylene, versatic acid redispersible polymer powder, and styrene butadiene polymer powder segments. The acrylic polymer powder segment is most widely used due to its growing consumption in heavy end-use industries such as construction, cement, textiles, and others. Moreover, durability and reliable nature are the major factors behind the popularity of this segment. The increasing use of these materials in mortars, plastering, insulation systems, and others is estimated to drive the market during the assessment period.
On the basis of the application, the market is segmented into tiling & flooring, mortars, plastering, insulation systems, and others. The tiling & flooring sector is the leading segment of the market and is anticipated to observe a rapid growth due to its boundless use in various applications such as glossy finish tiles, infrastructure developments, and maintenance work.
On the basis of the end-use, the market is segmented into residential construction, commercial construction, and industrial construction segments. The residential sector is the leading segment of the market and is anticipated to observe a rapid growth due to boundless use of redispersible polymer powder in various applications. The emulsion based product is used in these applications to improve the structural properties of the product.
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The global redispersible polymer powder market is spanned across five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major portion of the global market and is anticipated to continue its dominance due to the rising demand for acrylic redispersible polymer powder in various applications. Countries such as China, Japan, and India are the major players in this region. The North America region is estimated to witness a higher growth in the U.S., Canada, and Mexico owing to the increasing demand for redispersible polymer powder in textiles, cement, and other sectors. The extensive use of redispersible polymer powder in adhesives, exterior, and interior renders has driven the manufacturers to use these materials in the end-use industries due to growing consumer preference and advantages offered by the product. Moreover, it is projected that the implementation of stringent rules and regulations in the major sectors has propelled European region to witness a stagnant growth in Germany, the U.K, and Italy.
The Middle East & Africa is estimated to observe a slow growth due to changing prices of raw materials and economic slowdown in the region. Additionally, the growing demand for the product in major industries is projected to boost the market in the Latin American region.