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(Construction.IndustryNews247.Com, December 15, 2018 ) According to the new market research report “Polymer Binders Market by Type (Acrylic, Vinyl Acetate, and Latex), Form (Liquid, Powder, and High Solids), Application (Architectural Coatings, Adhesives & Sealants, Textile & Carpets, Paper & Board, and Construction Additives), and Region - Global Forecast to 2023”, published by MarketsandMarkets™, the polymer binders market is projected to grow from USD 24.1 billion in 2018 to USD 35.0 billion by 2023, at a CAGR of 7.8% during the forecast period.
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The growth of the polymer binders market can be attributed to the rising per capita paint consumption in APAC and the global growth in the construction industry. In addition, the increased demand for technical textiles is expected to drive the demand for polymer binders, globally.
The growing construction industry globally to drive the polymer binders market during the forecast period.
Polymer binders are mainly used as mortar additives for the performance modifications of mortars. It is also used in paint & coating formulations. Growth in the construction industry drives the demand for architectural coatings and mortar which will have a positive impact on the growth of the polymer binders market. The global construction output will grow by 85% to reach USD 15.5 trillion by 2030. China, the US, and India, three major countries, are expected to contribute more than 50% to the overall growth of the construction industry due to economic growth in these economies. According to the Asian Development Bank (ADB), based on the current growth rate of APAC, the region requires an investment of USD 1.7 trillion till 2030 for its infrastructure. This scenario is favorable for the growth of the polymer binders market.
Vinyl acetate is projected to be the fastest-growing type segment of the polymer binders market.
The vinyl acetate type segment of the polymer binders market is projected to register a higher CAGR between 2018 and 2023. The growth of the vinyl acetate segment can be attributed to its excellent pigment binding capacity and excellent oil & grease and dust resistance. This polymer binder is efficient in terms of performance as compared to acrylic, owing to which vinyl acetate has high demand in the adhesives & sealants, carpet backing, and paper binding applications. Apart from these applications, it is also used in the architectural coatings, paper & board, and construction additives applications.
Browse and in-depth TOC on “Polymer Binders Market”
69 - Tables
41 - Figures
123 - Pages
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APAC to be the fastest-growing regional segment of the polymer binders market.
APAC is projected to be the fastest-growing polymer binders market. The growth of the APAC polymer binders market can be attributed to the presence of the largest textile producing countries, such as India, China, and South Korea. Additionally, the increasing demand for architectural coatings from the rapidly growing construction industry is expected to drive the APAC polymer binders market during the forecast period.
Most active players in the polymer binders market:
BASF (Germany), DowDuPont (US), Celanese Corporation (US), Arkema (France), Wacker (Germany), Trinseo (US), Taogosei (Japan), Synthomer (UK), Dairen Chemical (Taiwan), and OMNOVA (US) are the leading players operating in the polymer binders market.
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