Polymer Binders Market

Polymer Binders Market Size-(2023-2028)

The polymer binders market was estimated at USD 25.4 billion in 2022 and is predicted to reach USD 37.5 billion by 2028, with a CAGR of 8.2% over the Forecast period 2023-2028

Polymer binders are important raw materials in the paint and construction industry. For environmental reasons, powder coatings and UV / EB treatment systems are replaced 100% and the dispersion of water-based polymers by conventional resins is used in solvent-based coatings. The polymer dispersion can be used as a conventional binder that helps in drying in the process of physical evaporation; bond by cationic interaction between acid groups and divalent cations; entanglement bonding in interaction with soaked particles or as a polymeric or weakly reactive material exposed to entanglement under the influence of UV / EB. Fluorescent polymers are useful as binders because of their high density (which produces a high rate of detonation) and their passive chemical behavior. However, they are somewhat brittle when the transmission temperature of the glass is room temperature or above; this limits its use to non-sensitive explosives (such as TATB) where fragility does not have a negative impact on safety. It is also difficult to treat. The active polymer can be utilized as a binder to escalate explosive force relative to inert materials. Bio plasticizers can also be used. The addition of plasticizers reduces the sensitivity of explosives and improves their sensitivity to preparation.

Drivers & Restraints in the Polymer Binders Market:

The key factor for the growth of the global polymer binders market is the increase in demand for the product in major end-use industries such as construction, paints and coatings, textiles and paper, among others. The paints and coatings industry is the main consumer of polymer binders. This is mainly due to the excellent adhesion and longevity that these binders give to paints and coatings. The global paints and coatings market is mature and stable, which is strongly integrated with the macroeconomic indices of the region or country.

The rapid growth of emerging economies in Asia-Pacific, the Middle East & Africa, and Latin America is supposed to support the growth of this market during the assessment period. The increase in disposable and per capita income of the inhabitants of these regions has encouraged them to increase their spending on the added value of their residences. This is anticipated to boost the call for the product during the conjecture period. Current dynamics in the construction industry, such as favorable government regulations and increased investment in infrastructure, are expected to drive demand for polymer binders.

POLYMER BINDERS MARKET REPORT COVERAGE:

Polymer Binders Market Segmentation:

Polymer Binders Market - By Form:

• Liquid 

• Powder 

• High Solids

The liquid segment held the largest market share in 2019 due to its ease of processing and preference for paint and coating applications. The powdered form is also growing at a healthy CAGR over the forecast period.

Polymer Binders Market - By Type:

• Acrylic 

• Latex

• Vinyl Acetate 

• Others

Among them, acrylic accounted for the largest share in 2019. This is major because of the extensive scope of this type of polymer binders in the paints and coatings industry for the longevity of paints. The product is mainly used in the manufacture of various coatings and paints. In addition, it is also used in automotive components for the efficient assembly of parts. This is expected to stimulate demand for the product during the review period.

Polymer Binders Market - By Application:

• Architectural Coatings

• Adhesives and Sealants  

• Construction Additives

• Paper and Board

• Textile and Carpets 

• Others

Based on application, the paints and coatings industry held the largest share in 2017, which was mainly attributed to increased demand in emerging economies. The textile industry is also a large consumer of polymer binders.

Polymer Binders Market Regional Analysis:

• North America

• Latin America

• Europe

• Asia Pacific

• Middle East & Africa

Asia-Pacific holds the major share of the global polymer binders market and is anticipated to be the fastest-growing region during the outlook period. The main factors favoring the growth of the market in this region are rapid industrialization, urbanization, and technological advancement in the industrial sector. In addition, the continuously growing construction activities in developing economies such as India, Myanmar, Malaysia, and Thailand in this region are likely to drive demand for the product in the following years. In addition, the rapid growth of the automotive industry is supposed to be the key factor in the growth of the regional market in the coming years.

North America and Europe are the other important markets for polymer binders. The growing need for polymer binders in the consolidated automotive industry and reconstruction activities in these regions are estimated to drive the growth of the regional market during the conjecture period. Finally, the Latin America and Middle East & Africa market is foreseen to experience healthy growth during the outlook period due to the high growth potential and investment opportunities in this locale.

COVID–19 Impact on Polymer Binders Market

The coronavirus pandemic has had a huge impact on the global polymer binders market, changing the dynamics and trends of the market. The global health crisis has severely affected the polymer binders industry, disrupting global supply chains and causing price and product demand volatility. However, industry experts trust that the worldwide polymer binders market will retain ground in the post-COVID scenario.

Key Players listed in the Polymer Binders Market are:

Some of the key players in the global polymer binders market are

1. BASF SE (Germany)

2. Wacker Chemie AG (Germany)

3. Celanese Corporation (US)

4. Arkema (France)

5. Dairen Chemical Corporation (Taiwan)

6. Chemrez Technologies, Inc. (Philippines)

7. OMNOVA Solutions Inc. (US)

8. Toagosei Co., Ltd. (Japan)

9. Visen Industries Limited (India)

10. Shandong Hearst building materials co., ltd. (China)