The polymer emulsion market in the North American region is expected to register a CAGR of 5.6% during the forecast period, 2018-2023. The market is driven by many factors, such as stringent government regulations regarding emissions and increasing demand from end-user industries like building & construction, automotive, etc., in countries like United States.
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 levying stringent policies to either curtail or completely ban them, which is driving the market. In Mexico and United States, the governments have increased the rules and regulations on VOCs in various end-users like architectural, automotive, etc., due to the growing smog conditions.
Based on product type, vinyl acetate is expected to be the fastest growing segment on account of the growing applications in end-user industries, such as building & construction, automotive, etc. It is increasingly used in the manufacture of architectural paints & coatings, because of its aesthetic appeal and high resistance to temperatures. Polyurethane Dispersions is also expected to maintain a strong rate with growing applications in the textile industry for fabric, leather, etc. The growing textile industry in the United States, Canada with advancing technologies is expected to drive the market for polyurethane dispersions during the forecast period.
United States dominates the North American market, with a share of more than 80%, with major demand from the paints & coatings segment. The increasing demand for less VOC paints from end-user industries like construction and automotive, in response to rising consumer awareness regarding their ill effects on environment and health along with companies’ compliance with strict environment regulations, is expected to drive the market in the forecast period. In addition to this, the growing construction sector in the United States, because of increased consumer spending in nonresidential sector, is providing opportunities for the market growth.
Major Players: 3M, Akzo Nobel NV, Arkema SA, BASF SE, Clariant AG, DowDuPont, Royal DSM NV, Sumitomo Chemical, Wacker Chemie AG, and ZEON Corp, among others.
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