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The polymer binder market share is expected to increase by USD 12.11 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 8.22%.
This polymer binder market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers polymer binder market segmentation by application (architectural coatings, adhesives and sealants, textile and carpets, paper and board, and others) and geography (APAC, Europe, North America, the Middle East and Africa, and South America). The polymer binder market report also offers information on several market vendors, including Anshika Polysurf Ltd, Arkema S.A., 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 BV, Synthomer Plc, The Dow Chemical Co., Toagosei Co Ltd, Trinseo PLC, Visen Industries Ltd, Wacker Chemie AG, and Zydex Inc. among others.
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The increasing use of polymer binders in coating formulation is notably driving the polymer binder market growth, although factors such as an increase in raw material prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the polymer binder industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Polymer Binder Market Driver
The increasing use of polymer binders in coating formulation is one of the major drivers impacting polymer binder market growth. Polymer binders are used in the formulation of coatings that hold pigments together for adhesion, stability, and chemical resistance. These binders improve the performance and durability of coatings such as waterborne and solvent-borne coatings. The demand for polymer binders by end-user industries, such as the construction and automobile industries, is increasing as these binders are widely used in the formulation of coatings. Architectural paints and coatings possess strong reflectivity, which helps in lowering temperatures inside buildings and reducing the energy consumption of air conditioners. These coatings can be applied on a wide range of roofing substrates, including metal, plastic, and concrete. They can be applied easily by using brushes, sprays, and rollers. China and India are among the key developing countries in APAC that are witnessing rapid growth and infrastructure development. Thus, massive residential and infrastructural development in APAC is expected to drive the consumption of coatings and have a positive impact on the global polymer binder market in the coming years.
Key Polymer Binder Market Trend
An increase in R&D activities is one of the major trends impacting polymer binder market growth. Major vendors, such as Wacker Chemie, BASF, and Trinseo, focus on product development and research to increase their footprint in the global polymer binder market. In March 2019, Wacker Chemie introduced VINNECO, a new bio-based product line to produce polymer binders at the 2019 European Coatings Show at Nuremberg, Germany. This new polymeric binder is based on renewable raw materials such as potato starch and bio-based acetic acid. The new polymer binder dispersions are suitable for the formulation of plasters and interior paints. In May 2019, Trinseo introduced its new latex binder technologies at Techtextil, a famous international trade fair for nonwoven and technical textiles, held in Frankfurt, Germany. The new binder technology is a formaldehyde-free solution and addresses the evolving requirements of the technical textile industry for various applications such as medical and automobile. Product development and innovations in the global polymer binder market are expected to have a positive impact on the growth of the market during the forecast period.
Key Polymer Binder Market Challenge
An increase in raw material prices is one of the major challenges influencing polymer binder market growth. Acrylic acid, vinyl acetate, epoxy, and latex are some of the major raw materials used in the production of polymer binders. An increase in the price of the abovementioned raw materials has increased production costs for polymer binder manufacturers. BASF increased the prices of polymer dispersions in MEA to almost $91 per metric ton and acrylic hotmelts by $160 per metric ton. An increase in raw material prices and freight costs drive the cost of dispersions. In October 2021, due to continuously rising energy, raw material, and logistics costs, WACKER intended to adjust its prices for polymer dispersions, dispersible polymer powders, and resins. The price increase of up to 20% will apply to all WACKER POLYMERS products, such as polymer binders shipped as of November 1, 2021. The temporary surcharge for dispersible polymer powders in Europe is also negatively affected and will increase to $600 per metric ton during the forecast period.
This polymer binder market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global polymer binder market as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the polymer binder market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the polymer binder market encompasses successful business strategies deployed by the key vendors. The polymer binder market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The polymer binder market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the polymer binder market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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57% of the market’s growth will originate from APAC during the forecast period. China, Japan, and South Korea are the key markets for the polymer binder market in APAC. Market growth in this region will be faster than the growth of the market other in regions.
An increase in the demand for polymer binders from various end-user industries will facilitate the polymer binder market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in the region hampered the demand for polymer binders from consumer and manufacturing industries in 2020. Several countries, such as China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines, were under partial or full lockdown due to the pandemic. In March 2020, the Government of India imposed a full lockdown to prevent the community spread of the disease.
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The polymer binder market share growth in the architectural coatings segment will be significant during the forecast period. There is a growing demand for architectural coating in residential and non-residential buildings from various countries, including China, India, the US, and Germany. Excellent durability and aesthetic appeal render them suitable for the construction industry.
This report provides an accurate prediction of the contribution of all the segments to the growth of the polymer binder market size and actionable market insights on post COVID-19 impact on each segment.
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Polymer Binder Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.22% |
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Market growth 2022-2026 |
$ 12.11 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
7.7 |
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Regional analysis |
APAC, Europe, North America, Middle East, and Africa, and South America |
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Performing market contribution |
APAC at 57% |
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Key consumer countries |
US, China, Japan, South Korea, Germany, and Italy |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Anshika Polysurf Ltd, Arkema S.A., 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 BV, Synthomer Plc, The Dow Chemical Co., Toagosei Co Ltd, Trinseo PLC, Visen Industries Ltd, Wacker Chemie AG, and Zydex Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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