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Redispersible Polymer Powder Market Insights 2023 and Global Industry Analysis - Wacker Chemie, The Dow Chemicals, Acquos, Akzo Nobel, Hexion, Synthomer, Bosson Union Tech, BASF SE, Benson Polymers, Dairen Chemical, Organic Kimya and Divnova Specialities
Growing Construction Activities to Increase Sales of Redispersable Polymer Powder
Organik Kimya has announced its planned investment in a second spray dryer to increase its production capacity of Redispersible Polymer Powder. The production capacity is expected to double and will be operational by 2020.
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Market Segmentation
MRFR's segmental analysis has been performed on the basis of Type, Application, End-Use Industry, and Region. By Type, the market is segmented into acrylic redispersible polymer powder, styrene butadiene redispersible polymer powder, verova redispersible polymer powder, vinyl acetate-ethylene redispersible polymer powder, and others. Acrylic redispersible polymer powder market dominates the market with the largest share due to its extensive use in the production of joint fillers, grouts, and tile adhesives. Meanwhile, the vinyl acetate-ethylene redispersible polymer segment is set to witness the highest growth at a CAGR of 7.50%.
By Application, the market is segmented to include tiling & flooring, plastering, mortars, insulation systems, and others. The tile and flooring segment possessed over one-third of the market share and was valued at USD 533.8 million in 2016. The segment is expected to witness a CAGR of 7.24% during the assessment period due to the extensive use of Redipersible Polymer Powders in tiling adhesives. The insulation system segment is expected to witness the fastest growth during the forecast period at a CAGR of 7.28% due to the rising demand from the construction sector.
Based on End-Use Industry, the market is categorized into residential construction, industrial construction, and non-residential construction.
Globally, the market has been reviewed by North America, Asia-Pacific (APAC), Latin America, Europe, and the Middle-East and Africa.
Key Players
Several leading players have been analyzed, and their market strategies have been comprehensively studied in MRFRs report on the Global Redispersible Polymer Powder Market. Market players included in the report are BASF SE, Acquos, The Dow Chemicals Company, Bosson Union Tech, Akzo Nobel N.V., Dairen Chemical Corporation, Divnova Specialities, Organic Kimya, Puyang Yintai Industrial, Wacker Chemie AG, Ashland Global Holding, Hexion Inc, Benson Polymers Limited, and Synthomer Plc
Regional Analysis
Asia Pacific leads the market and is likely to remain a key region in the Global Redispersible Polymer Powder Market during the assessment period and is expected to witness a CAGR of 7.59% during the assessment period. The region has several fast emerging markets with high construction activities, both residential, nonresidential, and industrial. Growing foreign investments have put the region in the spotlight and fueled its growth. APAC has attracted the attention of several market players who are increasing investments there to meet the high demand in the region and leverage the availability of reduced overhead costs. China leads the region with the largest regional market share and is followed by Japan which is expected to experience a CAGR of more than 6% during the review period.
Europe accounts for the second largest market with a 25% share of the global market and a dynamic CAGR of 5.99% over the assessment period. Germany and Italy lead market growth for the region while Poland is expected to grow at the highest CAGR. The region's growth is primarily owing to the increasing demand and inclination toward the construction of green buildings. Moreover, the regions construction industry is recovering rapidly and is a significant factor influencing the increase in demand.
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