The global Polymers Binder Market, valued at USD 25.5 billion in 2021, is set to experience significant growth with a projected Compound Annual Growth Rate (CAGR) of 7.5 percent during the forecast period. Polymer binders, including vinyl acetate, acrylonitrile copolymer, polyurethane, and styrene acrylic, are gaining prominence in industries such as construction, electrical, and electronics due to their enhanced toughness, workability, tensile strength, bending strength, and bonding strength.
Strengthened by Sintering: One of the key advantages of polymer binders is their remarkable resilience, alkaline abrasion resistance, and pigment binding ability, achieved through the sintering process, which strengthens them when particles are joined.
Rising Construction Activity: The growing construction sector, particularly in emerging nations undergoing rapid urbanization and modernization, is propelling the polymer binder market forward. Polymer binders offer superior alternatives to traditional resins, further contributing to their market growth. The industrialization of Asia-Pacific nations is also bolstering this trend, though high investment costs pose a challenge.
Versatile Applications: Polymer binders find extensive use in buildings and constructions, frequently employed as mortars and protective coatings on materials like concrete, reinforced concrete, and steel. With global construction activity on the rise, the demand for architectural coatings and mortar is expected to increase, offering significant potential for polymer binders.
Key Innovations: Notable developments in the polymer binder market include WACKERs introduction of a new line of polymer binders made from renewable resources, offering improved moisture protection solutions and reduced emissions. Additionally, BASF and Adani Groups collaboration to invest in the acrylics value chain signifies a major stride in the industry.
Impact of COVID-19: The COVID-19 pandemic disrupted end-use sectors like electrical, automotive, and construction, leading to a decrease in demand for polymer binders in 2020-2021. However, as economies recover and supply chains stabilize, the market is expected to gradually rebound.
Market Drivers: The polymer binder market is driven by the increasing manufacture of electric cars, where polymer binders find applications due to their cost-effectiveness, ease of manufacture, lightweight nature, and fuel efficiency. The global infrastructure sectors growth also fuels demand, especially in developing nations where urbanization plans are driving construction projects.
Market Restraints: Lack of quality control in emerging markets poses a significant challenge to market expansion, as compromised quality due to raw material price volatility may lead customers to switch to alternative materials.
Segment Dominance: Acrylics lead the market due to their lower cost and exceptional performance, offering benefits such as alkali resistance, water resistance, abrasion resistance, and good pigment binding capacity. The coatings sector dominates the applications segment, with polymer binders serving as essential components in various coatings, from automotive to architectural.
Regional Growth: The Asia Pacific region dominates the polymer binder market, driven by urbanization, industrialization, and increased infrastructure spending, with China and India playing pivotal roles in market expansion.
Competitive Landscape: Key players in the polymer binder market include BASF SE, Dowdupont, Wacker Chemie, Celanese Corporation, Arkema, Trinseo, Omnova Solutions, and others, actively contributing to the industrys growth.
The global polymer binder market is poised for substantial expansion as industries continue to embrace these versatile materials for their exceptional properties and applications. With ongoing innovations and a rebound from the COVID-19 pandemic, the market is on track to meet its growth projections.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/polymers-binder-market
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COMTEX_442467049/2840/2023-10-26T02:15:50