Emulsion Polymers Market - Global Industry Analysis, Size 2024 | Research Report

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.

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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.

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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.

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