Consumption of Emulsion Polymers Increases as Demand for Paints and Coatings Goes Up
The improving GDPs of developing nations and the ambitious upgrade in the standard of living with rising per capita incomes have collectively provided an impetus to the overall construction industry in Asia Pacific and Latin America. The expansion of this industry has had a direct impact on the demand for paints and coatings, thus augmenting the emulsion polymers market.
Emulsion polymers are used in manufacturing paints and coatings for improving the quality of the color, heat sensitivity, and self-repairing abilities. Owing to the demand for high-quality paints, manufacturers are using emulsion polymers on a large scale to add value to their products.
These formidable market drivers are expected to create an opportunity worth US$54.9 bn by 2023 as compared to US$32.2 bn in 2014, with the market expanding at a CAGR of 6.1% between 2015 and 2023.
The market is also anticipated to grow as the demand for removable and permanent adhesives rises at a significant rate. Adhesives play a major role in the consumer goods industry, which includes household furnishings, packaging, and footwear. Needless to say, the increasing disposable incomes have bolstered the demand for these items, which in turn, has increased the demand for adhesives. This has provided the emulsion polymers market a significant impetus. The increasing uptake of adhesives in the automotive industry has also boosted the consumption of emulsion polymers in recent years.
Burgeoning Construction and Building Activity in Asia Pacific Creates Opportunity for Emulsion Polymers
Asia Pacific has held a dominant share in the global emulsion polymers market with the support from developing countries of India and China. As the building and construction activities in these developing countries grows, it is expected to make a dramatic contribution to the regional revenues of this market. Furthermore, the flourishing demand for adhesives is likely to create an immense demand for emulsion polymers. Between 2015 and 2023, the Asia Pacific emulsion polymers market is expected to progress at a CAGR of 5.3%.
Acrylics, a product of emulsion polymers, has been extensively consumed across Asia Pacific. The phenomenal demand for paints and coatings has been the key factor leading to the substantial uptake of acrylics.
Acrylics Remain the Favored Products of Global Market
Acrylics constitutes a large chunk of the global emulsion polymers market as well. Reports suggest that acrylics held a share of 38.6% in the global market in 2014. The ability of acrylics in imparting the property of quick-drying to paints has been the primary factor driving the consumption of acrylics across the globe. The fact that acrylic paints are superior in quality and provide excellent water resistance, strength, and adhesion has also sparked an interest for such paints amongst consumers.
Supported by these drivers, the acrylics segment is anticipated to represent an opportunity worth US$19.8 bn in 2023 as it promises to expand at a CAGR of 6.1% between 2015 and 2023. Innovations in acrylic emulsions such as the introduction of water-based acrylic emulsion polymer products are expected to open up a new category of products in the market, thereby giving rise to a never-seen-before demand and opportunity. These paints will have the ability to gel with water-based inks and overprint varnishes.
Some of the key players operating in the global emulsion polymers market are Synthomer plc, BASF SE, Celanese Corporation, The Dow Chemical Company, Arkema S.A., and Trinseo S.A. Companies are currently focusing on expanding their product portfolio and developing emulsion polymers with myriad end uses. Furthermore, developing bio-based emulsion polymers will be a key strategy adopted by new entrants to break through the barriers of a highly competitive market scenario.
Emulsion polymers are produced by polymerization followed by emulsification of monomers such as styrene and butadiene and some co-monomers such as vinyl acetate. Emulsion polymers are widely employed in various end-user industries such as paints & coatings, paper & paperboard, adhesives, and textiles & non-woven. Paints & coatings was the largest end-user segment of the emulsion polymers market in 2014. Furthermore, it is likely to be the fastest growing segment of the global emulsion polymers market from 2015 to 2023. Acrylics held major share of the global emulsion polymers market in 2014. Threat of substitutes is high from bio-based as well as silicone emulsions in the global emulsion polymers market.
The report estimates and forecasts the emulsion polymers market on the global, regional, and country level. The study provides forecast from 2015 to 2023 based on volume (Kilo Tons) and revenue (US$ Mn).
The study provides a comprehensive view of the emulsion polymers market by dividing it into product segments such as acrylics, styrene-butadiene latex, vinyl acetate polymers, polyurethane, and others. In terms of end-user, the global emulsion polymers market has been segmented into paints & coatings, paper & paperboard, adhesives, textiles & non-woven, and others. End-user segments have been analyzed based on historic, present, and future trends, and the market has been estimated from 2015 to 2023 in terms of volume (Kilo Tons) and revenue (US$ Mn). Regional segmentation includes the current and forecast demand for emulsion polymers in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). Additionally, the report comprises country-level analysis in terms of volume and revenue for product and end-user segments. Key countries such as the U.S., U.K., France, Spain, Italy, Germany, China, India, Brazil, South Africa, and ASEAN and GCC countries are included in the study. Market segmentation includes demand for individual products and applications in all the regions and countries.
The report comprises an exhaustive value chain analysis, which provides a comprehensive view of the market. Value chain analysis also offers detailed information about value addition at each stage of the value chain. The report covers drivers and restraints for the emulsion polymers market along with their impact on demand during the forecast period. Additionally, it includes the study of opportunities in the emulsion polymers market at the global level.
The report includes Porter’s Five Forces Model to gauge the degree of competition in the emulsion polymers market. The report comprises a qualitative write-up on market attractiveness analysis, wherein applications have been analyzed based on attractiveness. Growth rate, market size, raw material availability, profit margin, impact strength, technology, competition, and other factors (such as environmental and legal) have been evaluated in order to derive general attractiveness of the market. The report includes price trend analysis for raw materials (butadiene, styrene, n-butyl acrylate, and vinyl acetate monomer) and emulsion polymers from 2014 to 2023.
Secondary research sources that were typically referred to include, but were not limited to company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings. Other sources such as internal and external proprietary databases, statistical databases and market reports, news articles, national government documents, and webcasts specific to companies operating in the market have also been referred for the report.
In-depth interviews and discussions with a wide range of key opinion leaders and industry participants were conducted to compile this research report. Primary research represents bulk of the research efforts, supplemented by an extensive secondary research. Key players’ product literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. This helped in validating and strengthening secondary research findings. Primary research further helped in developing the analysis team’s expertise and market understanding.
The report covers a detailed competitive outlook that includes market share and profiles of key players operating in the global market. Key players profiled in the report include Arkema S.A., Asahi Kasei Chemicals Corporation, BASF SE, Batf Industry Co., Ltd., Celanese Corporation, DIC Corporation, Koninklijke DSM N.V., Trinseo S.A., and Wacker Chemie AG. Company profiles include attributes such as company overview, number of employees, brand overview, key competitors, business overview, business strategies, recent/key developments, acquisitions, and financial overview.
This report segments the global emulsion polymers market as follows:
- Emulsion Polymers Market - Product Analysis
- Styrene-butadiene latex
- Vinyl acetate polymers
- Others (Silicone, Hybrid Epoxy, etc.)
- Emulsion Polymers Market - End-user Analysis
- Paints & Coatings
- Paper & Paperboard
- Textiles & Non-woven
- Others (Leather, etc.)
- Emulsion Polymers Market - Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of Middle East & Africa
- North America