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Polymers Binder Market

Polymers Binder Market

Global Industry Analysis (2018 - 2021), Growth Trends, and Market Forecast (2022 - 2029)

Published Date: Upcoming | Format:

Industry: Chemicals & Materials | Author Name: Harshad

Polymers Binder Market: Overview

The market size for polymers binders was USD 25.5 billion in 2021, and it is projected to grow at a CAGR of 7.5 percent during the forecast period. Due to its increased toughness, workability, tensile strength, bending strength, and bonding strength, polymer binders like vinyl acetate, acrylonitrile copolymer, polyurethane, and styrene acrylic are frequently used as coatings and raw materials in the construction, electrical, and electronics industries. Sintering is a process that polymer binders go through since it significantly strengthens them once the particles are joined. The key benefits of polymer binders above other substitute materials are their exceptional water resistance, alkaline abrasion resistance, and pigment binding ability. The Market for polymer binders is expanding due to the expanding construction sector, particularly in emerging nations where urbanization and modernization are occurring quickly. Better alternatives to traditional resins include polymer binders, which will also benefit the Market. These benefits dominate the Market for polymer binders, which is also being pushed by the rising industrialization of Asia-developing Pacific nations. High investment costs will, however, restrict the market growth.

Buildings and other constructions use more polymer binders, often used as mortars. They are often used as protective coatings on concrete, reinforced concrete, and occasionally on steel. Demand for architectural coatings and mortar is anticipated to rise as worldwide building activity increases. Over the foreseeable period, polymer binders are anticipated to have enormous potential. For Instance, In March 2021, WACKER unveiled a new line of polymer binders made from renewable resources. These goods were introduced to offer "better moisture protection solutions and are noted for their reduced emission." They are made utilizing two separate eco-friendly procedures ideal for producing interior paints and plasters. One approach makes use of bio-based acetic acid, while the other makes use of potato starch.

For Instance, in March 2021, On the eve of the Vibrant Gujarat Global Summit 2019, BASF and Adani Group inked a Memorandum of Understanding (MoU) to assess a significant combined investment in the acrylics value chain. This is thought to be BASF's by far greatest investment in India.

Polymers Binder Market: COVID-19 Impact

The primary end-use sectors for polymer binders, including the electrical, automotive, and construction industries, are now severely disrupted by the COVID-19 pandemic. According to the Organisation Internationale des Constructers automobiles (OICA) and the World Economic Forum Organization, the two top producing nations in the world for automobiles are the United States and China. According to OICA, China's production dropped by 19% and 40% in the United States during this period. Wuhan alone accounted for 50% of China's total production. Additionally, due to supply chain disruptions such raw material delays or non-arrival, disturbed finance flows, and increased absenteeism among production line employees, OEMs have been forced to run at zero or partial capacity. This has led to a decrease in demand and consumption for polymer binders in 2020–2021. These variables altered the global polymer binder Market's revenue trajectory throughout the outbreak. It is anticipated that these factors will progressively improve during the forecast period.

Polymers Binder Market: Drivers

Manufacture of Electric Cars in the Automotive Industry is Rising to Promote Market Expansion

In recent years, the use of polymer binders for automotive parts has increased, and their applications have been expanding with a propensity for additional expansion in vehicles. Compared to other materials, polymer binders are preferred because of their cost, ease of manufacture, lightweight nature, and comparatively low fuel use in electric cars. The international energy agency (IEA) estimates that, despite a pandemic, electric car sales and stock worldwide contributed 2.6% and 1%, respectively. This is a 40% year-over-year gain. EVs and the automobile sector are resilient in the face of a worldwide crisis, retaining demand for polymer binders.

An Expansion of the Global Infrastructure Sector Influence the Market

Infrastructure is a key factor in every region's ability to grow economically, and polymer binders are frequently used as coatings in the construction of roads, bridges, major buildings, dams, pipelines, ports, trains, and aqueducts. The infrastructure industry will benefit from increased urbanization plans in developing nations, which will also assist the Market for polymer binders to grow. For Instance, to improve India's infrastructure, the government has allotted Rs. 233,083 crores (US$ 32.02 billion) in the Union Budget 2021. Increased infrastructure expenditure multiplies the economy as a whole since it necessitates manufacturing and industrial development. Raising people's standards of living, in turn, influences collective demand.

Polymers Binder Market: Restraints

Lack of Quality Control in Emerging Markets to Constrain the Market Expansion

The main market limitation in developing nations is the lack of quality control in various applications, including building and construction, paints and coatings, and others. The quality of polymer binders can occasionally be compromised when the infrastructure of emerging nations experiences considerable expansion. The volatility in raw material prices is the primary cause of this lack of quality. The suppliers attempt to use a lower grade raw material due to the additional expenses associated with high-quality raw materials. The large investment costs might potentially impede market expansion. Additionally, when the quality is damaged, customers risk switching to the Market's dominant alternatives, which include paper and carpet goods. This will influence the demand for polymer binders. Consequently, the Market's expansion will be constrained due to the abovementioned concerns.

Polymers Binder Market: Segment Overview

Acrylics to Dominate the Market due to their Lower Cost and Outstanding Performance

The Polymer Binders Market is segmented into Latex, Acrylic, Vinyl Acetate and Others (alkyd, epoxy, acrylonitrile copolymers, polyvinyl chloride, polyurethane, and chlorinated polymer binders) based on type. In 2021, the polymer binders market's acrylics category accounted for the greatest market share. Due to their superior performance and lower price compared to latex and vinyl acetate polymer binders, acrylic polymer binders are becoming more and more popular. Because of their strong structural adhesive qualities, acrylic polymer binders are an excellent choice for low-cost architectural coatings and other industries like the automotive and construction sectors. They also exhibit excellent alkali resistance, water resistance, abrasion resistance, and good pigment binding capacity. Additionally, non-plastics that are either thermoplastics or thermosetting polymers can be easily joined with acrylic polymer binders. The expanding technical advancements greatly aid the development of acrylic polymer binders in the end-use sectors, extensive research and development efforts, and ongoing inventions. As a result, the demand for acrylic polymer binders will increase significantly throughout the projected period.

Due to Ongoing Technical Advancements Coatings Sector Dominated Market

The Market for polymer binders is further segmented based on application type into Architectural Coatings, Textile & Carpets, Paper & Board, Adhesive & Sealants, Construction Additives and Others (printing inks, wax & polishes, industrial coatings, nonwovens, sports surfaces, and footwear). The coatings sector, which accounted for the biggest market share for polymer binders in 2021, is projected to expand at a CAGR of 7.8% from 2022 to 2027. Polymeric binders are employed to cover raw materials or substances that mechanically, chemically, through adhesion or cohesion, hold together or pull other components to produce a cohesive whole. The polymer binder is an essential component of coatings because it binds the pigment particles together and gives the dry film adhesion, gloss, and flexibility. In the building and construction industry, polymer-based paints and coatings are widely used for interior and exterior applications. A wide choice of weatherproof coating options is now possible because of expanding technological developments in paint and coatings, particularly in acrylic formulations. As a result, the numerous benefits and applications of polymer binders as a coating are anticipated to boost the expansion of the worldwide polymer binder market.

Polymers Binder Market: Regional Landscape

Asia Pacific Region to Dominate Market due to Urbanisation and Fast Industrialization

The Asia Pacific region currently holds the greatest market share for polymer binders, which is expected to grow gradually over the projected period. The rise of the vehicle sector in this area is the key driver of this market expansion. The ongoing building projects would aid the rise of the Polymer Binders Market in this area in several of the region's nations, including Malaysia, Myanmar, India, and Thailand. China is a good market for polymer binders since it consumes the most sealants and adhesives worldwide. The Market for polymer binders will expand in the Asia Pacific Region due to the textile industry's fast expansion. For Instance, the most recent UN research estimates that by 2030, 4.9 billion people will reside in urban areas or about 60% of the world's population. This is a 13% increase from 1999. Additionally, Asia will account for almost 60% of the global rise in urban population, with China and India playing a significant role.

The Market for polymer binders with the quickest growth in the Asia Pacific. Developing nations spearhead credit for the quick industry and urbanization in the Asia-Pacific region like South Korea, China, and India. In the Middle East and Africa, a polymer binder is widely used in constructing infrastructure, including buildings, roads, pipelines, and bridges. Polymer binders will be extensively used in upcoming construction and infrastructure projects, such as new highways, dams, and upgrades to sewage systems in Latin American and Chinese nations. Causing this specific industry to thrive.

Global Polymers Binder Market: Competitive Landscape

In 2018, Arkema announced that they had increased their production capacity in North America to fulfil the demand in the region.

Few of the players in the Polymers BInder Market include BASF SE, Dowdupont, Wacker Chemie, Celanese Corporation, Arkema, Trinseo, Omnova Solutions, Dairen Chemical Corporation, Toagosei Co., Ltd., Synthomer PLC, Chemrez Technologies, Shandong Hearst Building Material, Zydex, Visen Industries, Jetsons, Aquos, Organik Kimya, Puyang Yintai Industrial Trading, Bosson Union Tech(Beijing), Adpl Group, Sakshi Chem Sciences.

Global Polymers Binder Market is Segmented as Below:

By Type

  • Latex, Acrylic
  • Vinyl Acetate
  • Others (alkyd, epoxy, acrylonitrile copolymers, polyvinyl chloride, polyurethane, and chlorinated polymer binders)

By Form

  • Powder
  • Liquid
  • High Solids

By Application

  • Architectural Coatings
  • Textile & Carpets
  • Paper & Board
  • Adhesive & Sealants
  • Construction Additives
  • Others (printing inks, wax & polishes, industrial coatings, nonwovens, sports surfaces, and footwear)

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Russia
    • Rest of Europe
  • Asia Pacific
    • Japan
    • South Korea
    • India
    • China
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Elements Included In The Study: Global Polymers Binder Market

  • Polymers Binder Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value and Volume, 2018 - 2021
  • Volume Consumption at Regional and Country Level, 2022 - 2029
  • Market Dynamics and Economic Overview
  • Market Size in Value and Volume, Growth Rates, and Forecast Figures, 2022 - 2029
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Production Output Analysis (Major Producing Regions)
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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