The global emulsion polymers market size was valued at USD 39.43 billion in 2018 and is anticipated to progress at a CAGR of 6.3% from 2019 to 2025. Increasing use of the product in paints, coatings, and adhesives is expected to drive the growth. Increasing construction projects, especially in the emerging economies of Asia Pacific and Middle East has also been driving the need for high-quality paints and coatings which in turn is anticipated to augment industry volumes.
In addition, enhancing use of adhesives in automotive coating industry is expected to significantly contribute to market growth in near future. Increasing environmental concerns are forcing regulatory bodies including Environmental Protection Agency (EPA) and Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) to frame strict rules to increase bio-based product use and minimize noxious impacts on the environment. These regulatory bodies have framed standards under the Clean Air Act to control toxic chemical emissions including methyl chloride, styrene, acrylonitrile, and toluene. Such initiatives are promoting water-based emulsion polymer use over synthetic products.
The product is derived from crude oil and natural gas. In recent years, fall in crude oil prices has negatively impacted the overall revenues and acted as the major restraint for growth. The product manufacturing process involves Volatile Organic Compounds (VOC) emission. Such factor is anticipated to challenge market growth in near future.
Water and bio-based polymer emulsions are anticipated to provide huge opportunities for development. Expanding consumer awareness regarding green building is anticipated to drive global demand over the forecast period. Increasing awareness among end-use industries regarding the environmental impact of solvent-based products coupled with favorable regulatory trends is expected to drive the market over the forecast period.
The shift in trend towards the adoption of environment-friendly paints and coatings coupled with the favorable regulatory scenario is likely to support the development of low VOC content or VOC-free paints and coatings. This has led to the initiation of emulsion polymerization in the global market. Emulsion polymerization technique produces high molecular weight polymers with little viscosity. However, polymers can also be tailor-made according to their usage to display the desired morphology and composition.
On the basis of product, the emulsion polymers market has been segmented into acrylics, styrene-butadiene latex, vinyl acetate polymers, and others. Acrylics is expected to be the fastest growing segment in the forthcoming years, owing to rising product demand from super absorbent polymers and adhesives and sealants segments. Increase in construction and building activities in developing countries is further expected to drive the demand.
In addition, rising application of acrylics polymer in water treatment is anticipated to boost the growth. Vinyl acetate is also anticipated to develop at a significant pace from 2019 to 2025 on account of expanding application base in adhesives, paper, fabric, and wood manufacturing.
On the basis of application, the market has been segmented into paints and coatings, paper and paperboard coatings, adhesives, and others. In 2018, paints and coatings held the largest market share and is expected to continue its dominance over the forecast period. Consumers are focusing quality and appearance and as a result, increasing demand for enhanced quality paints and technology driven coatings is expected to drive product demand over the forecast period.
Furthermore, increasing preference for odor-free products that contain low VOCs is spurring growth of paints and coatings segment. The primary reason for this preference is the stringent environmental regulations and policies that are in favor of environment-friendly products.
Paper and paperboard coatings application segment is expected to witness significant growth over the forecast period. Coated paper and paperboard food packaging segment is anticipated to witness significant growth over the forecast period as food and beverage industry is switching to sustainable food packaging options.
Asia Pacific held the largest market share in 2018. In addition, the availability of cheap raw material, land, equipment, and skilled labor are some of the factors contributing to the growth of emulsion industry in Asia Pacific. The main reason behind this substantial growth is the rapidly expanding Chinese and Indian markets.
Water-borne products are replacing solvent-based coatings and adhesives due to their environment-friendly nature. The market is, therefore, expected to grow significantly over the forecast period. Asia Pacific is expected to continue to be the largest consumer due to the increased spending on construction activities, growing middle class population, improving lifestyle, and increasing spending power.
The market is fragmented in nature with the presence of few key players, such as The Dow Chemical Co, Arkema SA, Clariant International, and Kasei Corporation; as well as a few medium and small-sized regional players, such as Mallard Creek Polymers, Inc.; Specialty Polymers Inc.; STI Polymer; and Engineered Polymer Solutions, which operate across the globe.
The market is highly competitive, and product manufacturers compete on the basis of product quality and technology used for production.Manufacturers are expected to invest in facilities expansion as well as product portfolio expansion to cater to rising demand from Asia Pacific. Product manufacturers have adopted the low-cost strategy to attract consumers.
Over the forecast period, companies are expected to focus on innovation to differentiate their product from competitors. They are also anticipated to shift their focus on bio-based and invest on R&D initiatives to meet industry standards and increasing competition levels.
Attribute |
Details |
Base year for estimation |
2018 |
Actual estimates/Historical data |
2014 - 2017 |
Forecast period |
2019 - 2025 |
Market representation |
Revenue in USD Million & CAGR from 2018 to 2025 |
Regional scope |
North America, Europe, Asia Pacific, Central & South America, Middle East & Africa |
Report coverage |
Revenue forecast, competitive landscape, growth factors and trends |
Country Scope |
The U.S., Canada, Mexico, U.K., Germany, France, Turkey, Russia, China, India, Japan, South Korea, Brazil, Argentina, UAE and Saudi Arabia |
15% free customization scope (equivalent to 5 analyst working days) |
If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization |
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 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global emulsion polymers market report on the basis of product, application, and region:
Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Acrylics
Styrene-Butadiene Latex
Vinyl Acetate Polymers
Others
Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Paints and coatings
Paper & paperboard Coatings
Adhesives
Others
Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
North America
U.S.
Canada
Mexico
Europe
U.K.
Germany
France
Turkey
Russia
Asia Pacific
China
India
Japan
South Korea
Central & South America
Brazil
Argentina
Middle East & Africa
UAE
Saudi Arabia
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The global COVID-19 pandemic has led to a sudden pause to manufacturing activities across the globe, affecting the demand for plastics and also production & processing of them. The most critically impacted end-use segments of the plastics industry include automotive & transportation, consumer goods, industrial equipment, construction, and electronics. The report will account for Covid19 as a key market contributor.
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