Increasing importance of water management activities in the Asia- Pacific region

The mining chemicals market size is estimated to grow from USD 6.02 Billion in 2017 to USD 7.54 Billion by 2022, at a CAGR of 4.60%. The mining chemicals market is witnessing considerable growth due to the rise in industrialization and infrastructural development. High demand for mining chemicals is primarily attributed to increasing complexity of ores and decreasing ore grades. The mining chemicals industry has come across new opportunities due to the growing stringent government regulations on wastewater pollution, coupled with the rising demand for quality minerals.

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Mining chemicals also finds wide application in mineral processing. This is due to the rising demand for concentrated grade minerals. As per International Mining Equipment (IME) 2017, mineral processing will witness a significant rise due to the high growth of the mining sector, in terms of production of minerals.

Mining chemicals are consumed in the wastewater treatment application for intercepting, diverting, and recycling the water. High demand for mining chemicals in water & wastewater treatment can be attributed to the stringent environment and legislative regulations on toxic discharge in water bodies initiated by governments of countries such as the U.S.

In 2016, the Asia-Pacific market accounted for the largest share of the global mining chemicals market, followed by Europe and North America. Countries such as China and Japan are expected to witness high growth in the mining chemicals market due to rapid economic expansion. The positive outlook of the economies is attracting huge investments from global mining companies. As a result, the mining capacity of various metals and minerals is increasing, thereby boosting the demand for mining chemicals.

The major players in the Mining chemicals market include AkzoNobel N.V. (Netherlands), BASF SE (Germany), Clariant AG (Switzerland), Cytec Industries Inc. (U.S.), Kemira OYJ (Finland), The Dow Chemical Company (U.S.), Huntsman International LLC (U.S.), Orica Limited. (Australia), ArrMaz Products, L.P. (U.S.), and SNF Floreger (France).

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Rising consumer spending for processed & packed goods are fueling the demand for thermoforming plastic

 

The thermoforming plastic market size is growing due to the rising healthcare & pharmaceuticals and food & agriculture packaging industries and increasing manufacturing activities. Factors such as changing demographics and lifestyles have shifted the market toward e-retailing channels and convenient packaging, which in turn will drive the demand for thermoforming plastic. The thermoforming plastic industry is expected to grow from USD 34.8 billion in 2019 to USD 45.9 billion by 2024, at a CAGR of 5.7% during the forecast period.

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Food & agriculture packaging industry dominated the thermoforming plastic market in terms of value in 2018. This growth is attributed mainly to the huge demand for packaged and branded products. Thermoforming plastic provides better protection during transportation and uses safe packaging materials; hence, they are preferred in the food & agriculture packaging industry.

North America is expected to lead the thermoforming plastic market

Technological advancements in the packaging industry primarily drive the market in this region. The demand for thermoforming plastic will be driven by factors such as increasing electronic goods sales, high disposable income, increasing demand for packaged foods, and demographic changes. The region is characterized by continuous technological advancements in the thermoforming plastic industry with the presence of some key regional players such as Pactiv LLC, Sonoco Products Company, D&W Fine Pack LLC, Fabri-Kal Corporation, Sabert Corporation (US) and Dart Container Corporation.

Sabert Corporation (US) is one of the prime manufacturers of thermoforming plastic in the North American region. Sabeart Corporation is a leading manufacturer of innovative food packaging products and solutions for food distributors, restaurants & caterers, grocery stores, national food chains, and consumer entertaining. The company provides a variety of food packaging for displaying, serving, & storing fine food. The company also recycles plastics going to landfill in Riverside, CA facility. The main products provided by the company include Catering Collection Packaging, Green Collection Packaging, Hot Collection Packaging, Cold Collection Packaging, and Bakery Collection Packaging. It is involved in implementing business strategies such as expansion, and acquisition to increase its market share around the globe. For instance, in February 2018, Sabert Corporation expanded its manufacturing facility, located in Greenville, Texas, for manufacturing 100% compostable packaging made from plant-based materials. This helped the company to deliver more options to its customers.

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Increased demand for customized air rental solutions drives the Compressor Rental Market

Increasing demand for pneumatic tools in the construction and manufacturing end-use industries is fueling the growth of the compressor rental market. Even though, the mining equipment market was experiencing a lull over the past few years, it began to witness a positive trend, in terms of demand for mining equipment since 2015. Air compressors are best suited for heavy duty applications in mining operations. The revival of the mining equipment market is expected to have a positive impact on the growth of the compressor rental market during the forecast period. The compressor rental market is projected to reach USD 5.53 Billion by 2026, at a CAGR of 6.4% from 2016 to 2026.

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In the chemical industry, air compressors are used for transporting liquids under pressure. They are also used in pressurizing tanks, aeration tanks, and culture vessels for spot cooling and molding plastics. Air compressors find application in the automatic control systems used in the chemical industry. Besides air compressors, screw compressors are also commonly used in the chemical industry. Rapid growth of the chemical industry in the Middle East & Africa and Asia-Pacific regions is fueling the growth of compressor rental market.

Technologically advanced air compressors are preferred as pneumatic power tools in commercial applications. They are used as jackhammers, pneumatic drills, pneumatic nail guns, and air saws, among others. Increasing demand for these pneumatic tools in the construction and manufacturing end-use industries is driving the demand for compressors, thereby fueling the growth of the compressor rental market.

These key players operational in the compressor rental market are focusing on new product launches, expansions, and acquisitions to cater to the increasing demand for compressor rental from varied industries. Atlas Copco reported the largest number of developments in the compressor rental market between 2011 and 2016.

In August 2016, Atlas Copco acquired Schneider Druckluft GmbH, a leading manufacturer of professional compressed air solutions with a large network of retailers. This acquisition is expected to strengthen position of Atlas Copco in the Germany compressor rental market. In May 2016, Atlas Copco acquired compressor business of Kohler Druckluft, which operates in Austria, Switzerland, and Liechtenstein. This acquisition resulted in Kohler Druckluft becoming part of the compressor technique business of Atlas Copco. This acquisition aims at improving customer interaction of the company in the central Europe. The company launched GA VSD+, which are oil-injected and oil-cooled rotary screw compressors. These new compressors are capable of reducing energy consumption to half as compared to traditional compressors.

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Epoxy and polyurethane floorings are widely used in the commercial and industrial sectors

The floor adhesive market is projected to grow from USD 8.54 Billion in 2017 to USD 11.01 Billion by 2022, at a CAGR of 5.2% from 2017 to 2022. The growth of the floor adhesive market is driven by advancements in flooring materials used in the residential, commercial, and industrial sectors. Epoxy and polyurethane floorings are widely used due to their high resistance to chemicals, temperature, and abrasion. These floorings are widely used in the healthcare, food, and automotive industries.

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Epoxy adhesives consist of an epoxy resin and hardener. These adhesives are available in one-part, two-part, and film form. Epoxy adhesives form an extremely strong and durable bond with most materials. Toughened epoxy adhesives contain a dispersed physically separated but chemically attached rubber phase to improve fracture and impact resistance. The major reason for the increasing adoption of epoxy adhesives in the flooring industry is their capacity to provide a good balance of handling characteristics and superior physical properties. They adhere well to a wide variety of substrates.

Based on application, the floor adhesive market has been segmented into tile & stone, carpet, wood, vinyl, and sports & rubber, among others. The growth of the tile & stone application segment is driven by the increasing infrastructural development in emerging countries across the globe.

The floor adhesive market in Asia-Pacific expected to witness the highest growth during the forecast period. Emerging economies, such as China, India, South Korea, and various Southeast Asian countries are attracting several global players to establish their manufacturing base in Asia-Pacific. These manufacturers are competing to reach an extensive customer base in countries, such as China and India to cater to the increasing demand for adhesives from the residential and industrial sectors in these countries. Increased investments in infrastructural development in the region are expected to fuel the growth of the floor adhesive market in Asia-Pacific.

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Competitive Analysis- Refrigeration Oil Market

The refrigeration oil market size is projected to reach USD 1.4 billion by 2024 from USD 1.1 billion in 2019, at a CAGR of 4.7% between 2019 and 2024. The increasing demand for refrigerators & freezers from the food and pharmaceutical industries to preserve packaged food items and drugs is one of the major factors to drive the demand for the refrigeration oil market. Stringent regulations to limit the use of fluorocarbon refrigerants is restraining the growth of the refrigeration oil market.

The APAC region is estimated to lead the refrigeration oil market in 2018 in terms of value and volume. The increasing population in the region and the rising demand for refrigerators, freezers, air conditioners, and automobiles in the emerging markets of APAC, such as China and India, are some of the major factors projected to drive the demand for refrigeration oil in the region. Furthermore, the improving lifestyle, increasing employment rate, rising disposable income of the people, and mounting foreign investments in various sectors of the economy are some of the other factors that make APAC an attractive market for refrigeration oil manufacturers.

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On the other hand, increasing demand for consumer appliances drives the demand for refrigeration oil. The players in the refrigeration oil market are mainly concentrating on expansions, new product launches, and partnership & agreements to meet the growing demand in various applications. New product launches help companies strengthen their product portfolio and meet the specific requirements of customers.

The growth of the refrigeration oil market has been influenced mainly by expansions, new product launches, and partnership & agreement that took place between 2016 and 2019. JXTG Group (Japan), BASF (Germany), and Idemitsu Kosan Co. (Japan), ExxonMobil Corporation (US), and Royal Dutch Shell plc. (Netherlands) adopted expansions, new product launches, and agreements to remain competitive in the refrigeration oil market.

BASF is one of the world’s largest chemical companies and one of the world’s largest players in the refrigeration oil market. It engages in manufacturing and selling a wide range of chemicals and intermediate solutions. The company offers POE and PAG refrigeration oils. It focusses on joint ventures and expansions to remain competitive in the refrigeration oil market. In May 2019, the company expanded its production capacity of antioxidants for lubricants in China and Mexico due to the increasing global demand for long-life lubricant additives, which, in turn, will increase the demand for refrigeration oil.

Idemitsu Kosan Co. is a petroleum refining and manufacturing company in Japan. The company has a major presence in APAC and manufactures and sells petrochemical and oil products. It offers PVE and PAG refrigeration oils to global customers. Idemitsu focuses on joint ventures, agreements, and expansions to remain competitive in the refrigeration oil market. In October 2017, the company started operating a service station business in Hanoi, Vietnam, that helped it strengthen its businesses ranging from production and procurement of petroleum products to the sale of such products in the overseas market of the Pacific Rim.

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Market Leader - COVID-19 Impact on Medical Tubing Market

The US medical tubing market size is projected to reach USD 2.9 billion by 2021, at a CAGR of 13.2%.The increase in demand for medical tubes in ventilators is the key factor driving the use of medical tubing. The rising demand for medical devices that incorporate medical tubing and the growing demand for ventilators in this pandemic are propelling the growth of the medical tubing market globally. However, factors such as restricting counterfeit products and fighting time for supply chain and logistics could affect the market growth.

Zeus Industrial Products (US), Saint Gobain Performance Plastics (France), Teleflex (US), Optinova (US), and Lubrizol Corporation (Vesta) (US), among others, are the leading medical tubing manufacturers, globally. These companies have established their brands, and medical tubings produced by these companies are consumed domestically. They are also supplied to various countries such as China, Japan, UK, Italy, France, and others within the Asia Pacific region.

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In February 2020, Teleflex Medical OEM acquired HPC Medical Products to strengthen its medical tubing & wire components and catheters portfolio. With this acquisition, the company is able to meet the growing demand in this pandemic situation. Now, the company is able to supply more products to the impacted countries with immediate effect to meet the growing demand.

Lubrizol announced the continuous supply of flexible and biocompatible materials for vascular catheters, IV tube sets, and medical components used in ventilators, valves, and infusion pumps. In order to attain this, it has altered its production process to deliver more products which can serve the purpose during this COVID-19 pandemic. The company also ramped up the supply of ESTANE thermoplastic polyurethane (TPU) for a multitude of applications in this crucial time.

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Building & construction segment accounted for the largest share of the foam plastics market

Foam plastics are resins used in manufacturing polymer foams, which are used in various end-use industries such as building & construction, furniture & bedding, packaging, and automotive among others. The Foam plastics market size for is projected to grow from USD 51.6 billion in 2020 to USD 65.4 billion by 2025, at a CAGR of 4.8%. Foam plastics are largely used in building & construction, packaging, and furniture & bedding. The polyurethane segment is estimated to account for the largest share of the overall market due to its properties such as low heat conduction coefficient, low density, low water absorption, relatively good mechanical strength, and good insulating properties.

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Foam plastics are used to make foams used in the building & construction industry for forging, doors, roof board, and slabs. PU is the dominant resin used in the building & construction industry for insulation. It has low heat conduction coefficient, low density, low water absorption, and relatively good mechanical strength and insulating properties, which are helpful in the building & construction sector. The COVID-19 pandemic has affected various end-use industries, and almost all divisions of the supply chain continue to be affected, which also includes the construction industry. According to the National Association of Home Builders (NAHB), US, the GDP growth rate during the first two quarters is expected to be negative. This decline can be compared to the aftermath of the global performance of the 2008 Great Recession. However, the fourth quarter of 2020 is expected to be a rebound period.

Recent Developments

In February 2020, Huntsman Corporation announced that it completed the acquisition of Icynene-Lapolla, a leading North American manufacturer and distributor of spray polyurethane foam (SPF) insulation systems for residential and commercial applications. Huntsman acquired the business from an affiliate of FFL Partners, LLC, for USD 350 million, subject to customary closing adjustments, in an all-cash transaction funded from available liquidity.

APAC is the largest foam plastics market, globally.

APAC is the leading market for foam plastics. The growth in the region is fueled by the booming economies of China, India, Indonesia, and Vietnam. PU resin based foams are preferred choice in the building & construction industry in APAC. It is in high demand, as it is a low-cost material that provides low heat conduction coefficient, low density, low water absorption, relatively good mechanical strength, and good insulating properties. APAC is a rapidly developing region with growth opportunities for companies willing to invest in high-growth markets.

The key players profiled in the foam plastics market report are BASF SE (Germany), Covestro (Germany), Huntsman International LLC (US), The Dow Chemical Company (US), and Wanhua Chemical Group Co., Ltd. (China).

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Market Leaders – Ultra-High Molecular Weight Polyethylene Market

 

The ultra-high molecular weight polyethylene (UHMW PE) market is estimated at USD 1.4 billion in 2020 and is projected to reach USD 2.2 billion by 2025, at a CAGR of 9.4% from 2020 to 2025. Ultra-High Molecular Weight Polyethylene (UHMW PE) is a simple linear background polyethylene possessing unique properties. Due to its ultra-high molecular density, it provides high abrasion resistance and impact strength in comparison to other engineering polymers. Apart from this, the material can also be optimized for more application specific requirements such as noise resistance, low coefficient of friction, excellent chemical resistance, self-lubrication, bio-compatibility, wear resistance, and electric insulation resistance.

The UHMW PE market in the Asia Pacific region is projected to grow at the highest CAGR between 2020 and 2025. China, India, and Japan together accounted for the major share of the Asia Pacific UHMW PE market in 2019. The Asia Pacific region is an emerging and lucrative market for UHMW PE, owing to industrial development and improving economic conditions. In addition, the growth of the medical industry in Asia Pacific is one of the reason leading to an increase in the demand for UHMW PE. UHMW PE is also being used in mechanical equipment. The presence of a number of mechanical component manufacturing plants in China and rapid industrialization in Asia Pacific are expected to drive the UHMW PE market in the coming years.

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Major companies such as Celanese Corporation (US), Koninklijke DSM N.V. (Netherlands), LyondellBasell Industries N.V. (Netherlands), Braskem S.A (Brazil), Asahi Kasei Corporation, (Japan) Du Pont De Nemours Inc. (US), Saudi Arabia Basic Industries Corporation (Saudi Arabia), Mitsui Chemicals, Inc. (Japan), Honeywell International, Inc. (US), and Teijin Limited (Japan) and others are key players in the UHMW PE market. These players have been focusing on developmental strategies, such as expansions, acquisitions, partnerships, joint veture, and new product developments, which have helped them expand their businesses in untapped and potential markets.

Celanese Corporation is engaged in the provision of technology and specialty materials business. It operates through the following segments: Engineered Materials, Acetate Tow, and Acetyl Chain. The Engineered Materials segment includes the engineered materials business, food ingredients business, and certain strategic affiliates. The company adopts growth strategies to increase its market share. For instance, in April 2018, Celanese Corporation announced the addition of a new GUR ultra-high molecular weight polyethylene (UHMW PE) production line at its Nanjing, China manufacturing facility to support the growth in its engineered materials business, specifically the electric vehicle market

Koninklijke DSM N.V. has a major business of nutritional and pharmaceutical ingredients and industrial chemicals. The business segments offered by the company include nutrition, materials, innovation center, and corporate activities. The company has a presence in all the major regions, including North America, Europe, Asia Pacific, the Middle East, Africa, and South America. The performance materials segment produces synthetic fibers, engineering plastics, and resins used in coatings, and include engineering plastics, DSM Dyneema, and DSM Resins. DSM acquired majority shares of ICD, a UHMW PE fiber manufacturer in China.

The acquisition of the majority share in ICD will bring complementary manufacturing and technology assets to DSM and will strengthen the company’s presence in this UHMW PE market. DSM introduced Dyneema Purity Black fiber, the first black medical-grade UHMW PE fiber. Further the company also fouses on the new product development. For instance, in July 2019, the fiber builds are expected to be 15 times stronger than steel, has a small profile, high pliability, and biocompatibility.

Braskem S.A is considered as a major player in the petrochemicals market, owing to its comprehensive product portfolio, and serviceability. It has 29 production plants in Brazil, four in Mexico, five plants in the US, and two plants in Germany. The company adopts several growth strategies to expand its presence in the international market. For instance, the company partnered with Pegasus Polymers for the distribution of UTEC in 2017. With this partnership, the company was not only been able to expand its geographical reach but also penetrate deeper into the Chinese market by increasing the sales network.

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The growing usage of asphalt additives in roofing application

 

The asphalt additive market is projected to grow from USD 3.4 billion in 2021 to USD 4.7 billion by 2026, at a CAGR of 6.8% from 2021 to 2026. Increase in road construction projects along with the growing usage of asphalt additives in roofing application are some of the major key factors driving the growth of the asphalt additive market across the globe.

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Asphalt is primarily used in roofing applications for waterproofing. It is also used as a saturate in asphalt saturated felts, roll roofing, and shingles. Asphalt shingles are one of the least expensive roofing applications and are witnessing increased demand from the North American and European regions. The sub-prime crisis of 2007-2008 in the US caused a recession in the construction industry. However, the construction industry in the North American region has recovered and is growing at a moderate pace. As the market for building materials is increasing in the North American and European regions, the use of asphalt in these materials is expected to grow. Consequently, the demand for asphalt additives is also expected to increase as these improve the service life and durability of asphalt in roofing applications.

The Asia Pacific region was the largest market for asphalt additives in 2020

The Asia-Pacific region was the largest market for asphalt additives in 2020, owing to the increasing demand for asphalt additives products in developing economies, such as India and China. China is the leading consumer of asphalt additives products in the Asia-Pacific region. The considerable growth and innovation, along with industry consolidations, is expected to drive the growth of the Asia-Pacific asphalt additives market.

Nouryon (Netherlands), DowDuPont (US), Arkema SA (France), Honeywell International Inc. (US), Evonik Industries (Germany), Huntsman Corporation (US), Kraton Corporation (US), Ingevity Corporation(US), and BASF SE (Germany) are some of the leading players operating in the asphalt additive market.

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Industrial water pollution treatment is the largest application of activated carbon filters market

The global activated carbon filters market size is estimated at USD 267 Million in 2020 and is projected to reach USD 330 Million by 2025, at a CAGR of 4.4%, between 2020 and 2025. Activated carbon filters are used to remove organic compounds, and free chlorine from water to make it suitable for drinking and reuse in manufacturing processes or to discharge in water bodies. They are used to remove organic elements, such as humic acid and fulvic acid from potable water to prevent the formation of trihalomethanes, a class of carcinogens. They are also used for air/gas filtration in various industries. The filter media, which is used in the filtration process is activated carbon, also known as activated charcoal. Activated carbon is a form of carbon that removes organic compounds from liquids and gases by a process known as “adsorption”. It is extremely porous and thus has a very large surface area available for adsorption.

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The industrial water pollution treatment application is expected to be the largest, and drinking water purification application is expected to be the fastest-growing segment in the overall market. The global activated carbon filters market is mainly driven by the implementation of stringent regulations by regional governments and environmental agencies to control water pollution. Also, activated carbon filters are used to treat industrial discharge to re-use it in the manufacturing rocess again. Re-use of industrial discharge water and water pollution control are the two major making industrial water pollution treatment the largest application in the market.

APAC is the largest as well as the fastest-growing market for activated carbon filters market.

APAC is estimated to be the largest market for activated carbon filters in 2019. The market for this region is segmented into China, India, Japan, Malaysia, Indonesia, and the Rest of APAC. According to the World Bank, APAC is the fastest-growing region in terms of both population and economy. The region has witnessed significant growth in the past decade, accounting for over one-third of the world’s GDP. High economic growth, coupled with the increasing population, is expected to drive the region’s industrial sector. This is expected to increase the demand for activated carbon filters in water pollution treatment and water purification applications.

Recent Developments

• In January 2020, Kuraray expanded its Mississippi (US) activated carbon plant, which will increase the capacity of the plant by 50 million pounds of granular activated carbon (GAC) annually. GAC is used as filter media in activated carbon filters. This expansion will help the company to cater to the growing needs of activated carbon filters in the North American region.
• In April 2020, Cabot Corporation acquired Shenzhen Sanshun Nano New Materials Co., Ltd (SUSN) (China). This acquisition will help the company to strengthen its market position in the APAC region.

The key companies profiled in this report on the activated caron filters market include TIGG LLC (US), Puragen Activated Carbons (US), Cabot Corporation (US), Westech Engineering (US), Kuraray Co. Ltd. (Japan), Lenntech B.V. (The Netherlands), Donau Carbon Corporation (Germany), General Carbon Corporation (US), Sereco S.R.L. (Italy), Carbtrol Corp (US).

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Replacement of metals with plastics in automotive applications is driving the Black Masterbatches Market

The black masterbatches market size is estimated to be USD 2.4 billion in 2021 and is projected reach USD 3.0 billion by 2026, at a CAGR of 4.4 % between 2021 and 2026. . This growth is mainly supported by the increasing need for innovative and attractive plastic products from the packaging industry. Most of the polymer manufacturers have switched the processing method of plastics from compounding to masterbatch. This process is cost-effective and saves processing time as compared to compounded materials. American and European black masterbatch manufacturers are focusing on expanding their manufacturing facilities in emerging economies owing to cost-effective labor, low setup cost, tax benefits, and high demand for black masterbatch.

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Plastics provide superior mechanical, physical, thermal, and electrical properties than metals. Engineering plastics are widely used in various automotive components such as steering wheels, airbags, seatbelts, bumpers, and dashboards. Continuous innovation and demand for lightweight materials in the automotive industry are encouraging the replacement of metals with plastics. It is estimated that for every 10% reduction in the weight of vehicles, fuel efficiency can be increased by 7–8%. In addition, plastics offer better design, safety, and environmental sustainability than metals. Automotive and airplane manufacturers utilize lightweight plastics such as PP and PC for windows, hoods, and interior applications.

Plastics used in the manufacture of automotive components are PBT, PET, PVC, ABS, PA, PS, PC, and PE. Implementation of stringent regulations on vehicular emissions in developed nations has led to automobile manufacturers working on weight reduction of vehicles. As plastic is used for weight reduction in vehicles, the demand for plastics in the automotive industry is increasing rapidly. Black masterbatch is used in exterior applications such as vehicle bodies, bumper, headlamp lenses, body side protection strips, window sealing profiles, and tires in the automotive industry.

The APAC comprises major emerging nations such as China and India. Hence, the scope for the development of most industries is high in this region. The black masterbatches market is growing significantly and offers opportunities for various manufacturers. The APAC region constitutes approximately 61.0% of the world’s population, and the manufacturing and processing sectors are growing rapidly in the region. The APAC is the largest black masterbatches market with China being the major market which is expected to grow significantly. The rising disposable incomes and rising standards of living in emerging economies in the APAC are the major drivers for this market.

Key players in this market are LyondellBasell (US), Avient Corporation (US), Ampacet Corporation (US), Cabot Corporation (US), Plastika Kritis S.A. (Greece), Plastiblends India Ltd. (India), Hubron International (UK), Tosaf Group (Israel), and Penn Color, Inc. (US). The global and regional players have sizable shares in the black masterbatch market. The key players in the market are focusing on strategies, such as new product launches, partnerships & agreements, acquisitions, and expansions, to expand their businesses globally.

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Rising demand for bio-based polymer emulsion driving the Polymer Emulsion Market

The global polymer emulsion market size is projected to grow from an estimated value of USD 25.2 billion in 2020 to USD 38.1 billion by 2025, at a CAGR of 8.6% during the forecast period. The growth of the market is driven mainly by the increasing demand from growing end-use industries in emerging markets and stringent regulations regarding VOC emission.

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Rising environmental concerns and increasing competition amongst market players have encouraged manufacturers to continuously make technological advancement and increase the use of bio-based or green products. This is increasing the demand for lower VOC products, which uses renewable materials as their feedstock.

The acrylics segment accounts for the largest share of the overall polymer emulsion market. Acrylic polymer emulsion is used widely in various applications due to its properties, such as low VOC emission and excellent durability. It is also preferred in multiple end-use applications due to its versatility. Acrylics are used to prepare polymers with rigid, flexible, ionic, nonionic, hydrophobic, or hydrophilic properties. They are transparent, have resistance to breakage, provide excellent finish gloss, improved adhesion to non-porous surfaces, and flow and stability. They are also commonly known as polyacrylates.

Paints & coatings is the largest application

The growth of the market is attributed to the high demand in industries, such as construction and automotive. Polymer emulsion is used widely in paints & coatings as its manufacturing process has a lower carbon footprint. The high VOC content of solvent-based products and the implementation of government regulations regarding air pollution control has stimulated the development of low VOC paints & coatings. This increased the demand for water-based paints & coatings, which in turn, drive the growth of polymer emulsions in the paints & coatings segment.

APAC is the largest and fastest-growing market for polymer emulsion. The region is witnessing growth in the polymer emulsion market because of the rapid expansion of building & construction, consumer durables, and transportation sectors. The manufacturers are attracted to the region as skilled labor required for the operation of manufacturing units is available at lower wages. The presence of major polymer emulsion manufacturers and stringent government regulation related to VOC emission are major factors supporting the growth of polymer emulsion in the region.

DIC Corporation (Japan), Dow Chemical Company (US), BASF SE (Germany), Arkema Group (France), Celanese Corporation (US), Trinseo (US), The Lubrizol Corporation (US), Wacker Chemie AG (Germany), Synthomer Plc (UK), and Asahi Kasei Corporation (Japan) are the major players in the polymer emulsion market.

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