Key Driving Factors of The Polymer Binders Market

The polymer binders market is projected to grow from USD 24.1 billion in 2018 to reach USD 35.0 billion by 2023, at a CAGR 7.8%. The main function of polymer binders is to make pigments suitable to adhere to the various surface such as metal, wall, plastic, paper, and textile. It can also be used as an adhesive in the cement additives application. The demand for polymer binders is high in the construction industry for the architectural coatings application. The growth in the global construction industry is expected to drive the polymer binders market owing to increased demand for architectural coatings. The increased global demand for textile products is also one of the most significant factors driving the polymer binders market.

Download PDF Brochure https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=80334872

Owing to increased concerns over VOC emissions, there is significant growth in the demand for low VOC content polymer binders, which has triggered the demand for water-based polymer binders. These low VOC content polymer binders have high demand from the architectural coatings and textile & carpets applications. In addition, formaldehyde-free polymer binders are also witnessing significant demand from the consumers.

The rising per capita consumption of paints in APAC is also majorly driving the polymer binders market. In India, according to the Coatings & Anti Corrosion Engineering Review, the increasing GDP per capita and rising disposable income are expected to raise per capita paint consumption from 4 kg/person in 2015 to 6–7 kg/person by 2020. Based on type, the polymer binders market has been segmented into acrylic, vinyl acetate, and latex. The vinyl acetate segment is projected to register the highest CAGR during the forecast period due to its excellent performance as compared to other types of polymer binders.

Request for sample Report https://www.marketsandmarkets.com/requestsampleNew.asp?id=80334872

Based on application, the polymer binders market has been segmented into architectural coatings, adhesives & sealants, textile & carpets, paper & board, and construction additives. The architectural coatings application segment is estimated to account for the largest share of the polymer binders market in 2018, owing to the high demand for paints & coatings formulations. The polymer binders market in the construction additives application is projected to register the highest CAGR owing to its increased use in mortar modification. Significant growth in the global construction industry is expected to increase the demand of polymer binders for cement modification and paints & coatings formulations.

The polymer binders market in APAC is projected to register the highest CAGR between 2018 and 2023. India is projected to be one of the high growth potential markets in APAC. The increased number of private and public infrastructure owing to growing population across the region is driving the polymer binders market. The presence of huge textile manufacturing industry with increased demand for textile & carpets is expected to drive the polymer binders market in APAC. In 2017, Wacker a leading manufacturer of vinyl acetate polymer binder expanded its VAE dispersion production capacity at its plants in Ulsan and Nanjing in South Korea and China, respectively. This expansion is the result of the increasing demand for polymer binders in the region. The total annual capacity of the plants in South Korea and China will increase by 80 kilotons and 30 kilotons, respectively.

Read more https://www.marketsandmarkets.com/PressReleases/polymer-binder.asp

MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062

MarketsandMarkets's™ flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.