The polymer emulsion market in the European region is expected to register a CAGR of 6.12% during the forecast period, 2018-2023. The market is driven by many factors, such as stringent government regulations regarding emissions and the increasing demand from the construction and automotive industries.
Emulsion polymerization produces polymers with high molecular weight and very less viscosity which reduces VOCs emission. Volatile Organic Compounds (VOC) are the major problem of environmental concerns, therefore governments are enacting stringent policies to either curtail or completely ban them which is driving the market. In European countries, the decorative paint industry is bound to follow their own national legislation, which is based on the European Paints Directive 2004/42/EC. It controls the VOC content in decorative paints, thus reducing their environmental impact. Therefore, this regulation has made companies across Europe to shift toward low VOC materials in paints & coatings industry, thereby driving the market.
Based on product type, acrylic emulsion has a share of 42%. However, vinyl acetate is expected to be the fastest growing segment with a CAGR of 8.72% due to the growing applications in end-user industries, such as building & construction, automotive, etc. Increasing consumer preference for aesthetics along with resistance to inclement weather is driving the vinyl segment in the manufacture of architectural paints & coatings. This is because it increases aesthetic appeal and provides high resistance. Also, the growing construction industry in the United Kingdom, after a period of slumps, is also expected to drive the market for vinyl acetate.
Germany is the largest market in Europe with a share of more than 35%. Germany, being the largest market for paints & coatings in Europe, uses large quantities in the transportation sector. There is also a high demand from the automotive sector, especially, for ICE rail car paints, which uses paints with low VOC. The growing rail market in Germany is increasing the demand for polymer emulsions, and is expected to drive the market in the forecast period.
Major Players: 3M, Akzo Nobel N.V., Arkema SA, BASF SE, Celanese Corp, Clariant, DowDuPont, Royal DSM NV, Synthomer plc, Wacker Chemie AG, and ZEON Corporation, amongst others.
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