The global polymer binders market is anticipated to reach a value of US$ 105 billion by the end of 2033, as per data provided by Fact.MR, a market research and competitive intelligence provider. The market is predicted to advance at a noticeable CAGR of 9% through 2033.
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Polymer binders such as styrene acrylic, polyurethane, acrylonitrile, and vinyl acetate are used widely in the electrical & electronics and construction industries as raw materials and coatings. The growing use of these solutions is attributed to their ability to improve the binding strength, bending strength, tensile strength, workability, and durability of end-use products. Polymer binders need to undergo a process called sintering, as they provide considerable strength when particles are bonded together. Compared to other alternative materials, polymer binders have outstanding resistance to water, pigment binding capacity, and alkaline abrasion.
Polymer binders are effective alternatives to standard traditional resins that can also act in the favor of market growth. However, high investment costs will restrict the expansion of the industry to some extent. Significant growth of the construction industry, especially in developing countries for rapid modernization and urbanization, is stimulating opportunities for industry players. Asia Pacific holds a dominating position in the global market owing to the increasing demand for polymer binders from the construction and automotive sectors. China and India are key countries in the Asia Pacific region that are predicted to contribute substantially to market growth.
Among the segments, the building and construction industry is projected to dominate the market over the coming years. Increasing disposable income along with per capita consumption of inhabitants in developing regions has stimulated them to increase their spending on various added-value of residences. This is expected to bolster the call for target industry products over the coming years. Rapid growth of the automotive industry is also predicted to propel the demand for polymer binders in the years ahead.
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Key Takeaways from Market Study
- The global polymer binders market is estimated to reach a value of US$ 105 billion by 2033.
- The market in Canada is forecasted to advance at a CAGR of 8.2% through 2033.
- The global market is anticipated to progress at a noteworthy CAGR of 9% through 2033.
- The present valuation of the polymer binders market is US$ 44 billion.
- The market in Germany is predicted to advance at a CAGR of 6.3% through 2033.
Industry players are taking efforts to innovate new types of polymer binders that are eco-friendly and match the rising demand of end users.
- WACKER, in March 2019 introduced a novel set of polymer binders that is based on renewable sources. These newly launched products are introduced with the idea to supply more effective solutions against moisture protection. These binders are known due to their lesser emission.
Two different processes are used for the production of these binders, one process is with the use of potato starch and the other one is with the use of bio-based acetic acid. These eco-friendly procedures match well according to the demand of manufacturers of interior paints and plasters.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global polymer binders market for the period of 2023-2033. The study divulges essential insights into the market on the basis of type (acrylic, vinyl acetate, latex, others), application (architectural coatings, adhesives & sealants, textiles & carpets, paper & boards, construction additives, others), and form (liquid, powder, high solids), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).