Market Trends of Polymer Emulsions Industry
This section covers the major market trends shaping the Polymer Emulsions Market according to our research experts:
Paints & Coatings Segment Dominated the Demand
- Paints & coatings industry stands to be the largest consumer of polymer emulsion. Paints & coatings are extensively used in industries, such as construction, automotive, and packaging.
- In the building and construction industry, emulsion polymers are used in the manufacturing process of architectural paints, high scrub interior paints, exterior paints for high durability and wet adhesion, deck and trim paints, and stains and elastomeric coatings.
- Residential & commercial construction has been increasing significantly across the globe, which is further driving the demand for polymer emulsion for application in architectural paints & coatings production.
- Asia-Pacific has been witnessing huge residential and commercial construction projects due to growing housing needs, and noticeable growth opportunities prevailing in the region.
- In the Middle East, the government's efforts to develop non-oil industries is leading to investments in industries, such as tourism, hospitality, healthcare, which has further driven the demand and investments into commercial infrastructure.
- North America has also witnessed a noticeable increase in residential construction and renovation projects in the country.
- Besides in global automotive industry, though production declined in 2018 by 1.1%, factors such as increasing investments into the sector to increase production, continuous efforts of the automakers to develop & launch new cars, and efforts towards development & promotion of electric vehicles of the industry are likely to drive the growth of automotive industry.
- Hence, all such trends are likely to increase demand and production in the paints & coatings market, which is further anticipated to drive the demand for raw materials, like polymer emulsions.
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Asia-Pacific Region to Dominate the Market
- Asia-Pacific region dominated the global market share. The demand for products, such as paints, coatings, and adhesives have been increasing from the end-user industries, such as automotive, construction, electronics, and packaging.
- Countries, such as India, China, Philippines, Vietnam, and Indonesia have numerous construction projects and investments planned, which is expected to increase the demand for architectural paints, coatings, and adhesives.
- Countries, such as India, Thailand, Vietnam, Pakistan, and Malaysia have recorded noticeable growth in automotive production.
- China, the world’s largest automotive producer, has plans to increase the production of electric vehicles (EVs) to 2 million a year by 2020, and 7 million a year by 2025.
- Besides, in the cosmetic & personal care industry, the demand is increasing at a noticeable rate in the region, with cultural change, the influence of western culture, increased cosmetic demand from the youth population, and rising women employment. With this, the market players in this market are increasing investments and production, which is further driving the demand for raw materials, including polymer emulsion.
- Hence, all such favorable market trends are likely to drive the growth of the polymer emulsion market in Asia-Pacific during the forecast period.
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