Emulsion Polymer Market Size, Share & Trends Analysis Report By Type (Acrylics, Styrene-Butadiene Latex), By Application (Paints & Coatings, Adhesives & Sealants), By End-use Industry, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global emulsion polymer market size was estimated at USD 30,422.9 million in 2022 and is expected to exhibit a compound annual growth rate (CAGR) of 6.4% over the forecast period. The rise in infrastructure development and growth in the construction industry is driving the market for emulsion polymers. In addition, the increasing demand for environmentally friendly and biodegradable products is expected to boost market growth. In November 2021, Asahi Kasei Corporation signed a partnership agreement with Shell (Shell Eastern Petroleum Ltd.) to provide bio-based high-performance polarized styrene-butadiene latex. The use of emulsion polymers in coating and other applications is preferred as they are non-toxic, biodegradable, and do not harm the environment. Furthermore, the use of emulsion polymers in the production of various textiles such as cotton, wool, and silk is expected to drive the demand. The COVID-19 pandemic had a significant impact on the emulsion polymer market. Due to the lockdown and restrictions on travel and transportation, the demand for emulsion polymers has decreased significantly as many end-use industries such as construction, automotive, and consumer goods have been affected

The disruption in supply chain due to the shutdown of the factories and delay in transportation of raw materials has also impacted the production of emulsion polymers. The decrease in demand and production has led to a decline in the prices of emulsion polymers, affecting the profitability of manufacturers. However, the demand for emulsion polymers in the healthcare sector has increased owing to the demand for protective equipment and sanitizers. The increased demand for these products has led to a temporary increase in the demand for emulsion polymers used in their production.

The U.S. emulsion polymer market is expected to expand at a CAGR of 6.6% in the forecast period from 2023-2030. This can be attributed to the factors such as increase in government spending on infrastructure development and the growing awareness about pollution and public health. The construction industry in the U.S. is growing due to the country's favorable commercial real estate market fundamentals, robust economy, and increased federal and state funding for infrastructure projects and institutional buildings. Compared to the non-residential sector, the residential sector in the U.S. is growing more slowly. The country's expanding population is anticipated to increase the housing demand. For instance, according to The Commerce Department in the U.S. the construction spending by the government rose up to 0.2% in 2021 compared to previous year.

Type Insights

The acrylic polymer segment held a revenue share of 41.2% in 2022 and is expected to be the fastest-growing product segment in the coming years, due to the escalating product demand from adhesives and sealants, as well as superabsorbent polymer sectors. A rise in the construction and building activity in developing nations is anticipated to further support acrylic polymer demand. Increasing usage of acrylic polymers in water treatment is also expected to propel the market growth. Vinyl acetate is anticipated to experience a substantial growth in the coming years, primarily as a result of an expanded application base in the production of adhesives, paper, cloth, and wood. In March 2021, Celanese Corporation announced the schedule of manufacturing facility expansions, debottlenecking projects, and new construction across Europe and Asia in order to increase the output of vinyl acetate monomer (VAM) and emulsion polymers.

Application Insights

The paints and coatings segment held the largest market share of 44.8% in 2022 and is expected to maintain the same throughout the forecast period 2023-2030. Consumers' increasing focus on quality and aesthetics is likely to enhance the demand for technologically advanced coatings and premium paints throughout the course of the projected period. The paints and coatings segment are expanding as a result of consumers' growing preference for low-VOC, odor-free products. This is mostly due to the existence of strict environmental laws and policies that support eco-friendly products.

End-use Industry Insights

The building and construction segment held the largest revenue share of 37.5% in 2022 and is expected to expand at a CAGR of 7.1% over the forecast period 2023-2023. Emulsion polymers are used as binders and additives in construction materials such as paints, coatings, adhesives, and mortar. The demand for emulsion polymer is directly proportional to the construction industry growth.

The use of emulsion polymers in construction materials provides several benefits, including improved durability, flexibility, and resistance to extreme weather and moisture. These factors, combined with the growth of the construction industry, are contributing to the growth of the emulsion polymer market. According to the Observatory of Economic Complexity (OEC), China was the top importer of acrylic polymer in 2020. China’s growing end-use industries such as cosmetics, automotive, building & construction, among others are increasing demand for raw materials such as emulsion polymer.

Regional Insights

Asia Pacific held the largest market share of 33.6% in the global emulsion polymer market in 2022. The rise in construction activities, especially in emerging economies such as China, India, and Southeast Asia, is driving the demand for paints and coatings, which, in turn, is driving the demand for emulsion polymers.

In addition, the Asia Pacific region is also home to some of the world's largest emulsion polymer manufacturers including DIC Corporation, China Petrochemical Corporation, KCC Corporation, and others who are investing in research and development to develop new products and technologies. This is further expected to drive the growth of the Asia Pacific emulsion polymer market.

Key Companies & Market Share Insights

The emulsion polymer market features at various global, regional, and local players which makes it a competitive market. The global leading market players are using collaborations, partnerships, acquisitions, agreements, and mergers, as strategies to standup to the intense competition and increase their market share. Emulsion polymer manufacturers are spending extensively on technological advancement to develop advanced products and integrate new technologies more sustainable and eco-friendlier.

In November 2021, Synthomer PLC acquired Eastman Chemical’s, adhesives resins business for USD 1 billion. The aim behind the acquisition was to enhance companies’ product portfolio including polyolefin polymers, pure monomer resins, and dispersions, fatty acid-based resins, and oleochemical product lines, and the geographical expansion of its products and services. Some of the prominent players operating in the global emulsion polymer market include:

• Synthomer

• OMNOVA Solutions

• Allnex GMBH

• Arkema

• DIC CORPORATION

• BASF SE

• Celanese Corporation

• Wacker Chemie AG

• Momentive

• Mallard Creek Polymers

• Solvay

• Clariant

• Asahi Kasei Corporation.

Emulsion Polymer Market Report Scope

Global Emulsion Polymer Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global emulsion polymer market report based on type, application, end-use industry, and region:

• Type Outlook (Revenue, USD Million; Volume, Kilo Ton, 2018 - 2030)

  • Acrylics

  • Styrene-Butadiene Latex

  • Vinyl Acetate Polymers

  • Other

• Application Outlook (Revenue, USD Million; Volume, Kilo Ton, 2018 - 2030)

  • Paints & Coatings

  • Adhesives & Sealants

  • Paper & Paperboard

  • Others

• End-use Industry Outlook (Revenue, USD Million; Volume, Kilo Ton, 2018 - 2030)

  • Building & Construction

  • Automotive

  • Chemicals

  • Textile & Coatings

  • Others

• Regional Outlook (Revenue, USD Million; Volume, Kilo Ton, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • U.K

    • France

    • Germany

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

    • Southeast Asia

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • UAE

    • Saudi Arabia

    • South Africa