North America can be acknowledged as a mature emulsions market. This market is expected to maintain its CAGR of about 5% during the 2015-2020 analysis period. Regionally, the United States are anticipated to be the largest consumer of polymer emulsions in the continent, with its estimated share accounted to 82% in the year 2015. However, the fastest growth in the demand for polymer emulsions is expected to come from Mexico. Although, the acrylic emulsions occupies the largest share of the market by product type, estimated at over 41% in 2015, vinyl emulsions are likely to record the strongest growth between the years 2015-2020.
Moving further, paints & coatings dominate the market for polymer emulsions in North America and are anticipated to also register fastest growth in demand during the aforementioned period. The region has also benefitted from capacity expansions initiated by major players over the past few years. Another major factor responsible for propelling growth is increasing awareness in regard to the harmful effects of volatile organic compounds (VOCs).
Emissions of volatile organic compounds (VOCs) has been a constant topic of discussion among the several environmental concerns; as a consequence of which, governments across the world are enacting stringent policies to either curtail or completely ban them. This has led to the emergence of the technique of emulsion polymerization that is capable of producing polymers with high molecular weight and very little viscosity. Polymer emulsions employ a wide variety of ingredients in their production, including monomers, co-monomers, initiators, surfactants and non-surfactant stabilizers, among others. Growing awareness with regard to the adverse effects of VOC emissions which are present in a majority of solvent based products have resulted in generating greater demand for emulsion polymers, which are low in VOC content. Major industries that use polymer emulsions include paints & coatings, paper & paper-board and adhesives, with all of them focusing on reducing VOC emissions.
With the automotive and building & construction industries making a rebound, demand for paints & coatings is also expected to witness growth, in turn, fueling the market for low-VOC polymer emulsions used in their production. Other factors instrumental in driving growth include resurgence in the paper & paperboard industry and greater demand for adhesives & carpet backing
Several of the major end-uses of vinyl emulsions, such as adhesives, paper & paperboard coatings and paints & coatings would be instrumental in fueling demand for this category of polymer emulsions. Demand for polyurethane (PU) dispersions is also anticipated to maintain healthy growth during the analysis period. The market is segmented by product type (Acrylics, Polyurethane dispersions, Styrene butadiene latex, Vinyls and other polymer emulsions), by application (Paper and paper coating, adhesives and carpet backing, paints and coatings and other applications) and also by region (U.S.A, Canada and Mexico). The key players are 3M company, Clariant, Royal DSM NV, Nuplex Industries Inc, Sumitomo Chemicals.
The increasing use of polymer emulsions in end-use industries and an increasing demand for VOC free products; both of these are the potential drivers for this market.
The raw material prices are very high thus making the end product more expensive.
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