Polymer Emulsion Market Future Demand, Market Analysis by 2023
Posted by Robin White on December 18th, 2019
The polymer emulsion market size is projected to grow from USD 29.8 billion in 2018 to USD 42.9 billion by 2023, at a CAGR of 7.6%. Factors such as high demand from building & construction, automotive & transportation, and industrial sectors in emerging economies and stringent government regulations such as REACH Europe and Clean Air Act are driving the polymer emulsion market.
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Recent Developments
In March 2018, BASF SE (Germany) expanded its production facilities of Joncryl water-based emulsions at its Ludwigshafen site. This will strengthen the company’s position as a leading manufacturer of water-based resin and emulsion which are used in overprint varnishes, printing inks, as well as functional coatings for flexible packaging and paper & board applications.
In August 2018, Synthomer plc (UK) invested USD 16 million for a new polymerization reactor and other equipment at its facility in Roebuck, South Carolina. This investment will support the company’s growth in new applications as well as markets.
In September 2018, Synthomer plc (UK) acquired BASF Pischelsdorf’s Austrian SBR business and assets. The business manufactures styrene butadiene rubber which is used in the paper industry, especially in packaging. This will enhance the company’s SBR business as well as the production network for paper/packaging applications. This will also increase the company’s access to new opportunities in Europe.
The acrylics polymer emulsion segment is estimated to have the highest share in the overall market.
Based on type, the polymer emulsion market has been segmented into acrylics, vinyl acetate polymer, SB latex, and others. In terms of value, the acrylics segment is projected to account for the largest as well as the fastest-growing segment of the overall market during the forecast period. Acrylics can be categorized into pure acrylics and acrylics polymer & copolymer. Acrylics based polymer emulsions are the oldest polymer emulsion. They are in high demand in various applications due to their low VOC emission. These are generally used in the paints & coatings, adhesives, and paper & paperboard applications.
The polymer emulsion market has been studied for Europe, North America, APAC, the Middle East & Africa, and South America. The APAC polymer emulsion market is projected to register the highest CAGR during the forecast period. Growth in end-use industries such as construction and automotive, increasing disposable income, and shift towards water-based formulations are majorly driving the demand for polymer emulsion in the regions. In APAC, countries such as China, Japan, and India are the largest consumers of polymer emulsion due to their increasing manufacturing output and rapid urbanization. The regulatory bodies and the regional governments have started addressing VOC emission issues with the help of stringent rules and regulations, which increases the demand for green products. This is also expected to fuel the demand for polymer emulsion.
DIC Corporation (Japan), DowDuPont (US), BASF SE (Germany), Arkema Group (France), Celanese Corporation (US), Trinseo (US), The Lubrizol Corporation (US), Wacker Chemie AG (Germany), Synthomer Plc (UK), and Omnova Solutions Inc. (US) are the key players in the polymer emulsions market.
