NEW YORK, July 26, 2024 /PRNewswire/ -- The
global polymer binder market size is estimated to grow
by USD 12.61 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 8.51% during the forecast period. Growth in textile industry is
driving market growth, with a trend towards increase in preference
for vertical integration among polymer binder vendors. However,
decline in the growth of paper products poses a challenge. Key
market players include Arkema Group, APL, BASF SE, Celanese
Corp., CH Polymers Oy, Chang Chun Group, D and L Industries Inc.,
Jesons Industries Ltd, Mayfair Biotech Pvt. Ltd., OMNOVA Solutions
Inc., Shandong Hearst Building Material Co. Ltd., Stahl Holdings
B.V., Synthomer Plc, Dow Chemical Co., Toagosei Co. Ltd., Trinseo
PLC, Visen Industries Ltd., Wacker Chemie AG, and Zydex Inc..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Application
(Architectural coatings, Adhesives and sealants, Textile and
carpets, Paper and board, and Others) and Geography (APAC, Europe,
North America, Middle East and Africa, and South
America)
|
Region
Covered
|
APAC, Europe, North
America, Middle East and Africa, and South America
|
Key companies
profiled
|
Arkema Group, APL, BASF
SE, Celanese Corp., CH Polymers Oy, Chang Chun Group, D and L
Industries Inc., Jesons Industries Ltd, Mayfair Biotech Pvt. Ltd.,
OMNOVA Solutions Inc., Shandong Hearst Building Material Co. Ltd.,
Stahl Holdings B.V., Synthomer Plc, Dow Chemical Co., Toagosei Co.
Ltd., Trinseo PLC, Visen Industries Ltd., Wacker Chemie AG, and
Zydex Inc.
|
Key Market Trends Fueling Growth
The polymer binder market is experiencing a significant impact
from the rising costs of raw materials, leading vendors to adopt
both backward and forward integration strategies. Backward
integration enables companies to secure a consistent supply of raw
materials and gain a competitive advantage. For instance, Arkema's
USD90 million investment in upgrading
its acrylic acid plant in Texas is
an example of backward integration. Additionally, BASF and Adani
Group's MoU to evaluate joint investments in the acrylics value
chain signifies forward integration. These strategies enable
vendors to improve efficiency through economies of scale and
control the value chain, ultimately fostering market
growth.
The polymer binder market is experiencing significant growth in
various industries, particularly in construction. Mortars and
concrete applications, reinforced with steel, are driving demand
for chlorinated polymer binders. In the coatings sector, acrylics,
alkyd, epoxy, and acrylonitrile copolymers are popular choices for
architectural coatings, renewable resources gaining traction. The
automotive industry uses polyvinyl chloride and other chlorinated
polymers in manufacturing components. In infrastructure
development, polymer binders are essential for roads, bridges,
dams, pipelines, ports, trains, and aqueducts. Paints and coatings,
adhesives, sealants, and industrial coatings all benefit from the
durability, adhesion, and flexibility of these binders. The
textile, carpet, paper & board, and nonwovens industries also
use polymer binders. The market value is expected to increase in
sectors like sports surfaces, footwear, and advanced coatings.
Overall, the polymer binder market is a vital component of numerous
industries, contributing significantly to their value
chain.
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Market Challenges
- The global polymer binder market faces challenges due to
decreasing demand for paper products, particularly newsprint,
printing, and writing papers. Factors such as high investments,
fluctuating raw material costs, and increasing use of plastics
limit the market's growth. Pulp, a crucial raw material for paper
production, may become scarce due to logging bans in countries like
Australia, Germany, and the Democratic Republic of the Congo.
Additionally, the shift towards digital media and paperless
communication in developed and developing economies reduces the
need for paper-based products, thereby impeding the growth of the
polymer binder market. Technological advances, including IoT and
cloud-based storage, further eliminate the need for storing
information on paper.
- The Polymer Binder Market faces several challenges in today's
business environment. Key concerns include environmental
sustainability and the adoption of eco-friendly practices. This has
led to a growing demand for water-based and bio-based alternatives
to traditional binders like polyester, powder, and liquid binders.
Renewable sources such as starch, cellulose, proteins, and
mineral-based binders are gaining popularity due to their lower
carbon footprint and biodegradability. In the Paints & Coatings
sector, acrylic and vinyl acetate ethylene latex binders dominate.
However, the construction industry, which accounts for a
significant portion of the market, is exploring alternatives to
reduce its carbon footprint. Construction additives like vinyl
acetate, acrylonitrile copolymer, polyurethane, and styrene acrylic
are under scrutiny due to their high solids content and potential
for improved sustainability. Sintering and the electrical industry
also rely on binders for various applications. Water resistance,
alkaline abrasion resistance, and pigment binding ability are
crucial factors for these industries. Traditional resins like
polyester and vinyl acetate are being replaced with sustainable
alternatives to meet the evolving market demands.
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challenges - Download a Sample Report
Segment Overview
This polymer binder market report extensively covers market
segmentation by
- Application
- 1.1 Architectural coatings
- 1.2 Adhesives and sealants
- 1.3 Textile and carpets
- 1.4 Paper and board
- 1.5 Others
- Geography
- 2.1 APAC
- 2.2 Europe
- 2.3 North America
- 2.4 Middle East and
Africa
- 2.5 South America
1.1 Architectural coatings- The Polymer Binder
market is experiencing steady growth due to increasing demand from
various industries such as construction, automotive, and
electronics. Key players in this market include BASF SE, Dow Inc.,
and Covestro AG. They supply polymer binders for applications like
adhesives, sealants, and coatings. Market expansion is driven by
factors like rising infrastructure spending and technological
advancements in polymer chemistry. Despite challenges like price
volatility and raw material scarcity, the future looks promising
for this market.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global Binders Excipients Market is expanding rapidly due to
the rising demand for pharmaceuticals and advanced drug delivery
systems. The Styrene Butadiene (SB) Latex Market is witnessing
significant growth, driven by its use in various applications such
as adhesives and coatings. Meanwhile, the Binder Market for
Lithium-Ion Batteries is surging, fueled by the booming electric
vehicle industry and the need for efficient energy storage
solutions. These markets are experiencing robust growth, driven by
technological advancements and increasing industrial
applications.
Research Analysis
The Polymer Binder Market is witnessing significant growth due
to the increasing demand from the global construction industry.
Acrylic segment and Vinyl Acetate Ethylene (VAE) are the major
types of polymer binders, widely used in construction additives,
mortars, adhesives, coatings, and sealants. VAE offers excellent
water resistance, alkaline abrasion resistance, and pigment binding
ability. Other types of polymer binders include Vinyl Acetate,
Acrylonitrile Copolymer, Polyurethane, Styrene Acrylic, and
Sintering. The electrical industry also utilizes polymer binders
for insulation and coating applications. The construction sector's
durability, adhesion, flexibility, and resistance to chemicals and
weathering are essential factors driving the market's growth.
Traditional resins like cement and building materials are
increasingly being replaced by these advanced polymer binders.
Market Research Overview
The Polymer Binder Market encompasses a wide range of products
used in various industries, primarily in the construction sector
and the electrical industry. Acrylic segment, including Acrylic,
Acrylonitrile copolymers, and Styrene acrylic, dominates the market
due to their excellent water resistance, alkaline abrasion
resistance, and pigment binding ability. Vinyl acetate, Vinyl
acetate ethylene, and Latex are other significant types of polymer
binders used in construction additives, mortars, concrete,
reinforced concrete, and architectural coatings. In the
construction industry, polymer binders are used in roads, bridges,
dams, pipelines, ports, trains, aqueducts, and other infrastructure
projects. In the electrical industry, they are employed in
insulation and coating applications. Polyurethane, Chlorinated
polymer binders, and Polyvinyl chloride are commonly used in
electrical applications. The coatings sector, including paints and
coatings, adhesives, sealants, and industrial coatings, is another
significant consumer of polymer binders. Advanced coatings,
automotive components, and textiles are some of the major
applications. The market value of polymer binders is driven by the
growing demand for durability, adhesion, and flexibility in various
industries. However, environmental concerns and the need for
sustainable practices are leading to the development of water-based
alternatives and bio-based alternatives from renewable resources
such as starch, cellulose, proteins, and mineral-based binders. The
use of renewable sources is expected to reduce the carbon footprint
and improve biodegradability. The Acrylics value chain includes the
production of monomers, polymers, and their derivatives used in
various applications. The market for polymer binders is expected to
grow in the coming years, driven by the increasing demand for
infrastructure development, renewable energy, and sustainable
practices. The market for electric cars, solar panels, and wind
turbines is also expected to boost the demand for polymer binders
in the electrical industry.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Architectural Coatings
- Adhesives And Sealants
- Textile And Carpets
- Paper And Board
- Others
- Geography
-
- APAC
- Europe
- North America
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
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trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
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Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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