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Redispersible Polymer Powder Market 2023 Analysis by BASF SE, The Dow Chemicals Company, Wacker Chemie AG, Acquos, Akzo Nobel N.V., Ashland Global Holding, Hexion Inc, Synthomer Plc, Bosson Union Tech, Puyang Yintai Industrial, Benson Polymers Limited, Da
Redispersible polymer has various applications which ensure its markets growth as the demand growing in various industry verticals. Market Research Future (MRFR) has released an exhaustive report on the global redispersible polymer powder market which reveals that the global market is expected to witness healthy growth at a CAGR of 6.66% during the forecast period of 2017 to 2023. Market growth is primarily expected to be influenced by exponential growth in construction activities, which is expected to grow to reach an estimated evaluation of USD 2,378.2 million by 2023.
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The construction sector is witnessing a boom, particularly in fast emerging markets. The rapid urbanization in emerging markets has resulted in increased construction of housing complexes and other residential construction. Rising disposable incomes has further increased demand for housing. Moreover, commercialization in these emerging markets, and on a global scale has resulted in increased investments in infrastructure and other non-residential construction activities. Subsequently, the demand for tile has also grown along with the construction sector. Redispersible polymers are extensively applied in tiling as a tiling adhesive. However, the volatility of raw material prices is expected to hinder market growth. Despite this, the demand is likely to keep steady and perpetuate growth via various opportunities for market expansion.
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.
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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.
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
Latest Industry News
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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MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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