Polymers Binder Market to Rise High with an Expanding Application Base in Automotive and Infrastructure Industries
An approximately US$25.5 Bn market for polymers binder (2021) is all set for a robust growth outlook over the next few years, suggests the primary findings of a new, upcoming study of Fairfield Market Research. Desirable attributes like tensile and bending strength, and superior bonding abilities, polymer binders like polyurethane, vinyl acetate, styrene acrylic, and acrylonitrile copolymer continue to find wide application as raw materials for the various construction, electronics, and electrical activities. In addition, the excellent pigment binding capability, alkaline abrasion resistance, and water resistance further elevate adoption potential of polymer binders. As electric vehicle production scales up, demand for polymeric binders is anticipated to see a spike. A wide application base is thus expected to drive the growth of polymers binder market. However, high investment costs will remain the key challenge facing the expansion of polymers binder market during the period of projection, 2022 – 2029. In addition, raw material pricing volatility, and the resultant lack of quality control are expected to remain the longstanding challenges.
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Coatings Top Application Area in Polymers Binder Market, Acrylics Preferred Type in Polymers Binder Market
Application-wise analysis of the market primarily reveals dominance of architectural coatings over the other key segments, including paper and board, textile and carpets, sealants and adhesives, and construction additives. Extensive application of polymer binders for weatherproof coating of a wide range of substances, or raw materials is projected to sustain the top positioning of coatings segment in polymers binder market. On the other hand, analysis of polymers binder market by type shows continued lead of acrylics on the back of superior performance, and cost efficiency. Acrylic polymer binders will also stay ahead of the curve based on their strong structural adhesive qualities. With soaring demand for cost-effective coatings from architectural and other end-use industries, acrylic polymer binders will remain sought-after in the polymers binder market.
Asia Pacific to Reign Supreme in Polymers Binder Market
Unprecedented growth of automotive industry across Asia Pacific is predominantly driving the growth of polymers binder market in the region. The report suggests that Asia Pacific currently accounts for the largest revenue share and will continue to be at the forefront in global polymers binder market through the end of forecast years. Strong presence of key end-use industries, i.e., automotive, construction, sealants and adhesives, and textile. The report findings also suggest that the polymers binder market in Asia Pacific will demonstrate the fastest rate of growth during the period of forecast. Besides China, India, and South Korea have been highlighted as the key Asian markets for polymers binder sales. Moreover, markets in the Middle East and Africa are also likely to develop lucrative pockets on the back of staggering infrastructural developments, and large-scale construction projects.
Leading Players in Global Polymers Binder Market
BASF SE, Dowdupont, Celanese Corporation, Wacker Chemie, Arkema, Omnova Solutions, Trinseo, Dairen Chemical Corporation, Synthomer PLC, Toagosei Co., Ltd., Chemrez Technologies, Zydex, Visen Industries, Shandong Hearst Building Material, Jetsons, Aquos, Organik Kimya, Bosson Union Tech (Beijing), Puyang Yintai Industrial Trading, Adpl Group, Sakshi Chem Sciences
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