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Polymer Emulsion Market size is forecast to reach $48.7 billion by 2025, after growing at a CAGR of 6.1% during 2020-2025. Rise in the use of polymer emulsion in paints, coatings, and adhesives is estimated to drive the global market growth. Growing construction projects, primarily in the developing economies of Asia Pacific region has also fueled the need for high-quality paints and coatings which has in turn enhanced industry volumes. Additionally, the use of adhesives in the automotive industry is projected to significantly contribute to market growth during the forecast period, 2020-2025.
Polymer Emulsion Market Segment Analysis – By Application
In 2019, paints & coatings held the largest market share. Rising customer focus on quality and appearance has led to the increase in the demand for enhanced quality paints and technology driven coatings. Additionally, the industry has witnessed rise in the demand for odor-free products that contain low Volatile Organic Compounds (VOCs) owing to change in customer preferences.
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Polymer Emulsion Market Segment Analysis – By Type
The acrylics segment accounted for the largest share of the overall polymer emulsion market, in terms of value, in 2019. Acrylic polymer emulsion is produced by an emulsion polymerization process in which the acrylic polymer droplets are emulsified in water and then polymerized. The demand for the acrylics polymer emulsion is driven by the large usage in applications such as paints & coatings, adhesives & sealants in construction, industrial, and automotive & transportation industries. Acrylic Polymer Emulsion is highly versatile and possesses superior properties such as low volatile emission compound (VOCs) emission rate and excellent durability making it suitable for numerous applications in end use industries such as building & construction, paints & coatings, textiles, and others. Additionally, rising consumer awareness regarding harmful effects of solvent based emulsion, is driving growth for acrylic polymer emulsion.
Polymer Emulsion Market Segment Analysis – Geography
Asia Pacific dominated the polymer emulsion market with a share of more than 38%, followed by Europe and North America. Escalating demand of the product in building & construction, paints and coatings, and automotive sectors in developing nations of Asia Pacific is estimated to fuel the market growth. In addition, the availability of cheap raw material, land, equipment, and skilled labor are some of the factors contributing to the growth of emulsion industry in Asia Pacific. Furthermore, Asia Pacific is estimated to continue to be the biggest consumer during the forecast period, 2020-2025, owing to the increased spending on construction facilities, rising population, elevated standard of living, and higher purchasing power.
Polymer Emulsion Market Drivers
Robust growth in the global architectural paints and coatings market
The global architectural paints & coatings market has witnessed significant growth in 2019 primarily due to the increased demand of protective and durable paints. Rapid urbanization and rising consumer disposable income is further estimated to fuel the market growth over the forecast period, 2020-2025. This trend is projected to lead to increase in the demand for emulsion products. Surging high-quality color paints demand coupled with increasing residential infrastructure development particularly in emerging economies is estimated to positively affect the industry expansion over the forecast period, 2020-2025.
Shift towards adoption of environment-friendly products
Rising awareness among end-use industries regarding the environmental impact of solvent-based products coupled with favorable regulatory trends is estimated to fuel the market demand during the forecast period, 2020-2025. The shift in trend towards the adoption of environment-friendly paints & coatings is estimated to support the development of low VOC content or VOC-free paints & coatings. This trend has fueled the production of emulsion polymerization in the global market. Using this technique industry operators are able to produce high molecular weight polymers with little viscosity. Additionally, growing consumer awareness regarding green building is anticipated to drive global demand over the forecast period, 2020-2025.
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Polymer Emulsion Market Challenges
Volatile Raw Material Cost
Some of the raw materials that are used by industry operators are derived from petrochemical-based feedstocks, such as crude oil and natural gas, which are subject to rapid and significant movements in price. These fluctuations in price could be intensified by macro-economic factors in the world along with supply and demand factors, including OPEC production quotas and increased global demand for petroleum-based products. Any significant variations in the cost and availability of raw materials might negatively impact industry operations.
Technology launches, acquisitions and collaboration are key strategies adopted by players in the polymer emulsion market. The polymer emulsion market is a fragmented market, where numerous players account for insignificant share to influence the market demand, individually. Major players in the Fuel Additives Market are DuPont de Nemours, Inc., DIC Corporation, Wacker Chemie AG, Synthomer Plc., Trinseo, The Lubrizol Corporation, Omnova Solutions Inc., BASF SE, Celanese Corporation, Arkema Group and others.
In June 2019, BASF collaborated with SIBUR to develop innovative polymer solutions at SIBUR’s PolyLab Research and Development Center located in Moscow, Russia.
In August 2019, DIC Corporation entered into a definitive agreement to acquire BASF’s global pigments business, known as BASF Colors & Effects (BCE).
Paints & coatings industry stands to be the largest consumer of polymer emulsion. Paints & coatings are extensively used in industries, such as construction, automotive, and packaging.
The global construction paints & coatings market has witnessed significant growth in 2019 primarily due to the increased demand of protective and durable paints.
Rising awareness among end-use industries regarding the environmental impact of solvent-based products coupled with favorable regulatory trends is estimated to fuel the market demand.
Asia-Pacific has been witnessing huge residential and commercial construction projects due to growing housing needs, and noticeable growth opportunities prevailing in the region.
Strict global shutdown due to Covid-19 pandemic caused huge disruption in the whole production and supply chain of global emulsion industry. The industry is witnessing decline in the demand from major end-use industries such as building & construction and automobiles among others.
Related Reports :
A. Printing Inks Market
B. Adhesives and Sealants Market
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