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..
Technavio has announced its latest market research report titled Global polymer binder market 2024-2028
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Forecast period |
2024-2028 |
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Base Year |
2023 |
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Historic Data |
2018 – 2022 |
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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) |
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Region Covered |
APAC, Europe, North America, Middle East and Africa, and South America |
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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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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.
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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
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SOURCE Technavio