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
“The growing construction industry globally to drive the polymer binders market in the architectural coatings & construction additives applications.”
The polymer binders market is estimated to be USD 24.1 billion in 2018 and is projected to reach USD 35.0 billion by 2023, at a CAGR of 7.8%. Majority of polymer binders’ applications, such as architectural coatings, adhesives & sealants, and construction additives, are related to the construction industry. The growth in the construction industry will have a favorable impact on the growth of the polymer binders market. In the construction industry, polymer binders are used in the tile adhesive, repair mortar, decorative mortar, waterproofing mortar, and skim coats applications to improve mortar properties such as workability, durability, and tensile strength. 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.
“The construction additives application segment is projected to register the highest CAGR during the forecast period.”
The construction additives application segment is projected to register the highest CAGR between 2018 and 2023, owing to the increased demand for polymer binders in the tiling & flooring, mortar mix, plastering, and insulation systems applications. The excellent bonding strength of polymer binders makes them suitable for mortar modifications. In addition, the growing population creates demand for both public and private construction projects, which will increase the demand for polymer binders in the construction additives application.
“APAC is the largest and the fastest-growing polymer binders market.”
APAC is estimated to account for the largest share of the polymer binders market in 2018, owing to the rapidly growing construction industry which creates demand for polymer binders in the architectural coatings, construction additives, and adhesives & sealants applications. 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 development to meet the growing population’s infrastructure need. In APAC, China and India are the largest producer and consumer of textile products, globally. They are also the largest and third-largest textile industry, respectively, which is favorable for the growth of the polymer binders market in the textile & carpets application.
Extensive primary interviews were conducted in the process of determining and verifying sizes of several segments and subsegments of the polymer binders market gathered through secondary research.
The break-up of primary interviews has been given below.
By Company Type: Tier 1 - 40%, Tier 2 - 27%, Tier 3 - 33%
By Designation: C Level Executives - 29%, Director Level - 21%, Others - 50%
By Region: North America - 19%, Europe - 25%, APAC - 37%, South America - 13%, Middle East & Africa -- 6%
The key companies profiled in this report on the polymer binders market include BASF (Germany), DowDuPont (US), Wacker (Germany), Celanese (US), Arkema (France), Trinseo (US), Taogosei (Japan), Synthomer (UK), Dairen Chemical (Taiwan), and OMNOVA (US).
The polymer binders market has been segmented based on type, form, application, and region. This report covers the polymer binders market and forecasts its market size till 2023. It also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their position in the polymer binders market.
Reasons to Buy the Report
The report is expected to help market leaders/new entrants in the following ways:
1. This report segments the polymer binders market and provides the closest approximations of revenue numbers for the overall market and its segments across different verticals and regions.
2. This report is expected to help stakeholders understand the pulse of the polymer binders market and provide information on key market drivers, restraints, challenges, and opportunities influencing the growth of the market.
3. This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the polymer binders market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on strategies such as new product launch, expansion, and acquisition.
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