The shift in consumer preference toward environment-friendly paints and coatings, the growing use of polymer emulsion in the paints, coatings, and adhesives sectors, and the surge in demand for emulsion polymers from various industries drive the global polymer emulsions market.
PORTLAND, Ore., Oct. 31, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Polymer Emulsions Market by Type (Acrylic, Vinyl Acetate, SB latex, Others), by End-Use Industry (Building and Construction, Automotive, Textile, Paints and coatings, Adhesives and sealants, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global polymer emulsions industry generated $27.3 billion in 2021, and is estimated to reach $56.3 billion by 2031, witnessing a CAGR of 7.6% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
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Drivers and Opportunities
The shift in consumer demand toward the usage of environment-friendly paints and coatings, supportive regulatory bodies encouraging the use of bio-based products, an increase in the use of polymer emulsion in the paints, coatings, and adhesives sectors, and the surge in demand for emulsion polymers from a variety of industries, such as construction, automotive, aerospace, and personal care fuel the growth of the global polymer emulsions market. However, volatility in crude oil prices hinders the growth of the market. On the other hand, innovations in acrylic emulsions are expected to introduce a new product category to the polymer emulsions market, hence creating demand and opportunity in the market.
Covid-19 Scenario
- The outbreak of the COVID-19 pandemic had a negative impact on the global polymer emulsions market growth. Manufacturers of polymer emulsions minimized or ceased their operations due to the risk of infection spread among the employees.
- Automotive, textile, construction, chemical, and coating firms were forced to close down. Demand for residential buildings decreased considerably and so did the demand for polymer emulsions. The demand for automobiles also sharply decreased as a result of the uncertain future. The demand for apparel and apparel accessories decreased by 30% on average. Chemical companies stopped their production or used fewer resources than usual for production.
- However, with the lifting of the lockdown, governments encouraged businesses in the automotive, textile, construction, and chemical and coatings industries to resume their operations. Hence, these businesses are helping the polymer emulsions market to recover gradually.
The acrylic segment to dominate the market in terms of revenue during the forecast period
Based on type, the acrylic segment contributed to the largest share of nearly two-fifths of the global polymer emulsions market in 2021, and is expected to rule the roost during the forecast period. The same segment is projected to witness the fastest CAGR of 8.0% from 2022 to 2031. The expansion of the construction industry as a result of increased infrastructure development is the primary factor driving the demand for acrylic emulsion. The report also discusses vinyl acetate, SB latex, and others segments.
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The building and construction segment to dominate the market in terms of revenue during the forecast period
Based on the end-use industry, the building and construction segment contributed to the largest share of more than one-fourth of the global polymer emulsions market in 2021, and is expected to rule the roost during the forecast period. The global building and construction segment has been steadily growing over the last few years, owing to increased demand for polymer emulsions from emerging economies such as India and China. However, the others segment is likely to grow at a CAGR of 9.5% during the forecast period. The report also discusses automotive, textile, paints and coatings, adhesives and sealants, and others segments.
Asia Pacific to achieve the lion's share by 2031
Based on region, Asia Pacific held the largest market share in 2021, accounting for around one-third of the global polymer emulsions market, and is likely to lead the trail throughout the forecast period. The same region is anticipated to manifest the fastest CAGR of 8.9% during the forecast period, 2022-2031. This is because several global firms in the market are looking to expand their presence and share in the Asia-Pacific region by expanding their operations in emerging economies, such as China, India, and many Southeast Asian countries. The other regions studied in the report include North America, LAMEA, and Europe.
Leading Market Players
- Arkema Group
- Asahi Kasei Corporation
- BASF SE
- Celanese Corporation
- Clariant AG
- DIC Corporation
- Dow Inc.
- Gellner Industrial LLC
- Halltech Inc.
- Interpolymer Co. Ltd.
- Momentive Inc.
- Resil Chemicals Pvt. Ltd.
- Synthomer Plc.
- The Lubrizol Corporation
- Wacker Chemie AG
The report analyzes these key players of the global polymer emulsions market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, product portfolio, and developments made by every market player.
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