Growing global construction industry coupled with increasing per capita paint consumption in APAC is expected to stimulate market growth.
The global Polymer Binders Market is expected to reach USD 50.51 Billion by 2028, according to a new report by Reports and Data. Growing global construction industry is a major factor affecting the demand for polymer binders. Based on statistics, by 2030, the volume of construction output is projected to grow by 85% to USD 15.5 trillion. China, U.S. and India are anticipated to be the major contributors and are likely to account for 57% of the global growth. Growing global technical textile industry is also likely to influence market growth. Increasing demand of technical textile from end-use industries such as automobile, healthcare, construction, and geotextile among others are expected to drive market demand.
Polymer binders are generally used as mortars and are being increasingly used in buildings and other structures. They are generally used as protective coatings on concrete, reinforced concrete and sometimes on steel. Increasing global construction activities is expected to lead to an increase in the demand for architectural coatings and mortar. This is likely to immense potential for polymer binders over the forecast period.
North America is estimated to grow at a CAGR of 7.8 percent in the forecast period. Increasing construction activities in the U.S. is expected to stimulate the demand for polymer binders. The non-residential construction is expected to witness a significant increase in investment under the Fixing America’s Surface Transportation. Apart from this, the technical textile industry in the region is also anticipated to witness a boost. Healthcare and automobile industry are a major consumer of technical textiles in the U.S. Increasing healthcare expenditure coupled with growing medical technology in fields such as implantable devices, bandaging and other medical devices would foster demand for the product in the coming years.
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Key participants include BASF. DowDuPont, Celanese Corporation, Arkema, Wacker, Taogosei, Synthomer, Dairen Chemical, and OMNOVA. OMNOVA is a key supplier of binders globally. The binders offered by the company enable packaging, moist wipes and textiles to maintain their integrity and allow carpets to remain attached to its backing. The company has manufacturing facilities located across the U.S., Europe, China and Thailand. As of 2017, the company’s Performance Materials segment which deals in binders accounted for around 44 percent of the revenue of the company. Wacker and BASF are other prominent companies with a presence in the leading markets of the world including China, the U.S. and Europe.
Further key findings from the report suggest
Vinyl Acetate is expected to account for a major share of the overall industry in the forecast period owing to increasing adoption in various end-use industries. For instance: The paper & board industry mainly in North America makes extensive use of vinyl acetate on account of benefits associated with the product such as a better brightness, and improved opacity, porosity, and stiffness. Apart from that, other benefits such as excellent pigment binding capacity and superior dust and oil & grease resistance is expected to foster the growth of the product.
North America is projected to grow at a CAGR of 7.8% in the forecast period. Increasing demand of medical textiles in the region is a key factor affecting market growth. Key manufacturers in the region are keen on innovating and bringing out new products in the market. For instance: In 2018, Siren, a San Francisco-based health technology company unveiled developing Neurofabric. The Neurofabric is the first textile which has microsensors embedded directly into the fabric. For instance: he Siren Diabetic Sock and Foot Monitoring System would help in monitoring foot temperature so that diabetic patients can detect signs of inflammation, the precursor to diabetic foot ulcers.
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For the purpose of this report, Reports and Data have segmented the global polymer binding market on the basis of type, form, application and region:
Type Outlook (Revenue, USD Million, 2018-2028)
Form Outlook (Revenue, USD Million, 2018-2028)
Application Outlook (Revenue, USD Million, 2018-2028)
Adhesives & Sealants
Textile & Carpets
Paper & Board
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Regional Outlook (Revenue, USD Million, 2018-2028)
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