Market Trends of Polymer Binder Industry
This section covers the major market trends shaping the Polymer Binder Market according to our research experts:
Growing Demand for Polymer Binders from Architectural Coatings
- Polymeric binders are valuable raw materials or substances that hold or draw other materials together to form a cohesive whole mechanically, chemically, by adhesion or cohesion.
- Polymer binder is an important ingredient in coatings as it is used to impart adhesion, gloss, and flexibility to the dried film, as well as binds the pigment particles together.
- Paints and coatings made from polymer binders are extensively used in the architectural sector, for both exterior and interior applications. Modern advances in paint technology, specifically in acrylic formulations, have offered a wide range of weatherproof coatings.
- Hence, owing to the above-mentioned factors, the application of polymer binders in architectural coatings is likely to dominate the market during the forecast period.
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The Asia-Pacific Region is Expected to Dominate the Market
- The Asia-Pacific region is expected to dominate the market for polymer binders during the forecast period. The rising demand for polymer binders from architectural coatings, with the growing construction industries in developing countries, like China and India, is expected to drive the overall demand for polymer binders in this region.
- The largest producers of polymer binders are in the Asia-Pacific region. Some of the leading companies in the production of polymer binders are BASF SE, Dow, Celanese Corporation, Arkema, and Wacker Chemie AG, among others.
- In India, the infrastructure sector has become one of the major focus areas for the government. The government aims to boost the construction of buildings in the country and has decided to come up with a single window clearance facility, to provide speedy approvals of the construction projects.
- Despite the volatile growth in the real estate sector, the significant development of rail and road infrastructure by the Chinese government, to withstand the expanding industrial and service sectors, resulted in a significant growth of the Chinese construction industry in the recent years.
- Japan's architectural and infrastructural industry has matured enough in recent years, thus making it a prospective country for paints and coatings.
- Owing to the above-mentioned factors, the market for polymer binders in the Asia-Pacific region is projected to grow significantly during the study period.
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