Synthetic and Bio Emulsion Polymer Market heats up: Global Market Insights, Inc.
Global emulsion polymer market size was estimated at over 12 million tons in 2015 and is likely to witness gains at CAGR of more than 5% up to 2023. This market was valued at USD 29.8 billion in 2014.
Growth in major end-use industries such as automobiles and construction is likely to drive paints & coatings market demand which should translate in to a surge in emulsion polymer market size. Construction is the leading end-use industry for paints & coatings with increasing government initiatives to develop infrastructure projects in countries such as China, India, Indonesia and Thailand.
Asia Pacific is expected to dominate the global construction spending segment by accounting close to 39% of the total volume in 2018. China dominated the region with an estimated construction spending of USD 1.78 trillion in 2013 while Japanese and Indian market witnessed a figure of USD 747 billion and USD 474 billion in the same year respectively.
Water based emulsion polymer market is widely gaining acceptance in automobile industries over synthetic/solvent borne technologies owing to environmental benefits. This allows the manufactures to reduce VOC content emissions from their plants.
Increase in adhesives demand for application such as paper & paperboard packaging which includes paper bags, folded cartoons and boxes is likely to drive emulsion polymers market. Global adhesives demand was close to 9.4 million tons in 2014. Adhesives based on emulsion polymers have certain benefits which include absence of flammable solvents which makes mixing & handling easier, it reduces fire risk & minimize special precaution steps required for solvent-borne adhesives use in ventilation areas.
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Emulsions are also used as binders for pressure sensitive applications such as tapes & labels, nonwoven applications such as diapers & adult incontinence products and consumer products such as household & carpenter wood glue.
SB latex, vinyl acetate polymers and acrylics are the key products widely used in the market. Acrylic based emulsions dominated the product segment by accounting approximately 40% of the total demand in 2013 and are likely witness highest gains with an estimated CAGR of more than 5% up to 2020. Factors such as water resistance and quick drying ability are likely to support its wide preference in the industry.
Vinyl acetate polymers are widely used in adhesive applications which are preferred for porous materials such as fabric, wood and paper. Acrylic products are likely to dominate the product segment and witness an increase in total share by 2020 owing to its highest growth rate.