Opaque Polymers Market

Opaque Polymers Market Size (2023-2028):

The Opaque Polymers Market is expected to expand at a CAGR of 10.3 %, from USD 2.85 billion in 2022 to USD 3.75 billion in 2028.

Opaque polymers can be used in paints and coatings for both interior and exterior applications. The number of residential and commercial infrastructure projects has increased as a result of increasing urbanization and industrialization and rising middle-income populations. Some of the world's largest paint and coating manufacturers are based in the United States.

Opaque polymer is a styrene acrylic copolymer emulsion that gives emulsion paint its opacity. They're used as additives in paint and coating formulations to help with opacity, shine, brightness, and light scattering. Titanium dioxide (TiO2) is made more efficient with the use of opaque polymers. As compared to comparable amounts of titanium dioxide, opaque polymer particles have a lower specific surface area, which aids in filling in and hiding holes in paints and coatings. Water-based paints and coatings produce opaque polymers that serve as emulsion polymers with a water-filled hole. The use of an opaque polymer for solvent-borne alkyds (OPSB) will help compensate for the TiO2 reduction's loss of hiding or opacity.

PPG, The Sherwin-Williams Company, and RPM International Inc., among other major paint and coatings companies, are expanding their product lines or growing their capacity to meet consumer demand. In 2019, companies including BASF and Nippon Paint agreed to expand their automotive paints and coatings manufacturing capacities in China and the United States, respectively. Other companies, such as Akzo Nobel, are increasing their wood coatings production in order to meet the rising demand from the furniture industry. The demand is expanding due to the rising demand for architectural paints and coatings and high costs and the increasing need for scattering performance in titanium dioxide pigment.

Opaque Polymers Market Drivers:

The growing demand for architectural paints in the construction industry is a major factor propelling the opaque polymers market forward. Opaque polymers in the manufacture of paints and coatings have many advantages, including increased dirt resistance, tint retention, and film durability. Companies are also putting more effort into developing greener chemical products that have little to no environmental effects. As a result, more efficient opaque polymers are being developed that can be used in a variety of applications. As a result, the opaque polymer market is expected to expand rapidly. As compared to TiO2, opaque polymer serves the exact purpose of providing high output at a lower cost. As a result, the opaque polymer will be more widely accepted as an alternative to TiO2, and the demand will continue to expand at a steady rate over the forecast period. 

Opaque Polymers Market Restraints:

Raw Material Price Fluctuation is a big stumbling block for the market's development. Lower hiding performance than TIO2 is the major factor acting as a restraint and will continue to pose a challenge to the opaque polymers market's development.

Opaque Polymers Market Opportunities:

In the coming years, the demand for opaque polymers is expected to be driven by rising paint and coatings output. To meet the growing demand for coatings in the construction, transportation, and consumer goods industries, various coating manufacturers around the world are expanding their production capacities or product lines. Opaque polymers are high-performance, voided latex materials that enhance paint and coating concealment and whiteness. Its resistance to solvents used in paint formulations is adequate, which helps to maintain particle integrity. Furthermore, its use allows for a significant reduction in titanium dioxide consumption while retaining opacity, which subsequently reduces paint formulation costs in most cases. Increased government and private sector investments in the construction industry, on the other hand, are expected to provide further growth opportunities for players in the opaque polymers market.

OPAQUE POLYMERS MARKET REPORT COVERAGE:

Market Segmentation:

Opaque Polymers Market - By Type:

• Solid Content 30%
• Solid Content 40%

Solid content 30% had the highest volume share, and it is expected to continue to do so in the next five years. It is also projected to be the fastest-growing market over the forecast period. Its widespread use in paint and coating applications keeps the market competitive.

Opaque Polymers Market - By Application:

• Paints and Coatings

• Personal Care

• Detergents

The paints & Coatings segment dominated the global opaque polymer market, which is expected to expand at a significant rate over the forecast period. Paints and coatings are added to the outside of the building to give it a fresh look while still protecting it from blistering summers, freezing winters, soaking rain, and the constant assault of UV radiation without fading, peeling, or cracking. The growth of this market is expected to be fueled by the expanding residential sector and rising architectural design trends in emerging economies. Paints and coatings, as well as personal and home care products, are expected to grow rapidly in the coming years, especially in Asia Pacific, North America, and Europe. As a result, demand for opaque polymers is expected to rise during the forecast period.

Opaque Polymers Market - By Region

• North America

• Asia Pacific

• Europe

• South America

• Middle East & Africa

The opaque polymer market is dominated by the Asia Pacific. Economic development in Asia Pacific nations and increased investment in the building and personal care industries are projected to further drive this region's opaque polymers industry. The growth engines of the area are China and India. Because of the rising demand for opaque polymers in countries like the United States and Canada, the North American region is projected to rise significantly in the global market. In Canada, there are 230 manufacturers and approximately 3000 retail stores in the paint and coatings industry. The Canadian Paint & Coatings Association estimates that the industry's current economic production is about USD 12 billion. The opaque polymer demand in North America is expected to be driven by such growth in these countries in the coming years.

Impact of Covid-19 on the Opaque Polymers Market:

The virus has spread to almost every country around the world since the COVID-19 virus outbreak in December 2019, prompting the World Health Organization to declare it a public health emergency. The COVID-19 pandemic had a negative impact on various end-user industries in the first half of 2020, including automotive, architecture, transportation, and packaging. The pandemic and lockdown conditions imposed across the country have wreaked havoc on the domestic paint and coatings-related industry's entire production and supply chain. The paint industry is also dealing with a severe labor shortage, both professional and unskilled, which has forced a significant portion of the workers to return to their hometowns. As a consequence of this, it affects the Opaque Polymers market growth. As a result, the global effects of COVID-19 on the Opaque Polymers market will be significantly impacted in 2020-2021. 

Recent Developments in the Opaque Polymers Market:

• Dow Chemical Company, headquartered in the United States, announced plans in 2017 to invest more than $100 million in Saudi Arabia to construct a new manufacturing facility to manufacture a variety of polymers for coatings and water-treatment applications. 

• Arkema introduced high-performance, eco-friendly solutions at K in 2019. UV-, LED-, EB-, and thermal-cured materials for 3D printing, rubber compounds, plastic coatings, and packaging inks all benefit from the product range, which accommodates both thermal, and UV curing for high production yield and enhances the efficiency of UV-, LED-, EB-, and thermal-cured materials.

Opaque Polymers Market Key Players:

1. Archer Daniels Midland Company

2. The Dow Chemicals Company

3. Arkema

4. Ashland

5. Bunge Limited

6. Solvay SA

7. Mitsui

8. Royal Dutch Shell plc

9. Western Dubuque Opaque Polymer

10. Delta American Fuel

11. Renewable Energy Group Inc.

12. Louis Dreyfus Company

13. Diversified Energy Corporation

14. Blue Marble Energy Corp.

15. American Energy Producer

16. ACCIONA Energy

17. Green Earth Fuels of Houston

18. BIOX Corporation

19. DuPont

20. Deerfield Energy