Polymer Binders Market

Polymer Binders Market Outlook (2023-2033)

The global polymer binders market is valued at US$ 44 billion in 2023 and is estimated to reach US$ 105 billion by 2033-end, expanding at a CAGR of 9% over the decade.

Polymer binders are being used at an increased rate to bind various types of materials of any structure to increase their strength. These solutions work as efficient binding agents and are available in either liquid or solid form. Polymer binders are applied in different areas, including, paper, pharmaceuticals, paints, textiles, and construction.

Based on the solvent used, polymer binders can be water-borne or solvent-borne. PVA, latex or plant glues, and bitumen are popular organic-based polymer binders. These products are used in the waterproofing and decoration of mortars. Furthermore, these solutions also find application in mortar repair. Polymer binders are efficient alternatives to traditional resins. All these factors are predicted to contribute to market growth over the coming years.

Lime, gypsum, and cement are some of the key synthetic binders that are being used at an increased rate, especially for construction and coating purposes. While applied on any substrate, these binders provide durability and strength to the respective substrate. Furthermore, they do not react chemically with other substances, which ensures the durability of these binders. Polymer binders also show excellent abrasion and alkali resistance and pigment binding capabilities.

In recent years, there has been a noticeable increase in the per capita application of paints, which is also driving the sales of polymer binders around the world. Growth of the construction industry, especially in developing nations, owing to rapid modernization and urbanization, will conclusively lead to the increased demand for polymer binders.

Rising demand for technical textiles is also estimated to create lucrative opportunities in the global market. Moreover, these solutions also find application in sealants and lamination.

On the flip side, manufacturers of polymer binders need to invest a handsome amount to provide qualitative solutions, which can result in the increased price of end products. Moreover, the easy availability of paper and carpet products that are alternative options to polymer binders can also adversely impact the demand for these industry solutions.

Report Attributes	Details
Polymer Binders Market Size (2023)	US$ 44 Billion
Anticipated Market Value (2033)	US$ 105 Billion
Expected Market Growth Rate (2023-2033)	9% CAGR
Canada Market Growth Rate (2023-2033)	8.2% CAGR
Germany Market Growth Rate (2023-2033)	6.3% CAGR
Key Companies Profiled	Arkema Wacker Chemie AG BAEF SE Trinseo Celanese Corporation Synthomer PLC Dairen Chemical Corporation OMNOVA Solutions Inc.

Why are Sales of Polymer Binders Increasing at a Rapid Pace?

“Increasing Demand for Polymer Binders from Architectural Sector”

One of the prominent factors bolstering market growth is the rising demand for polymer binders from the architectural sector. Polymer binders are popular raw substances or materials used in this sector. Water-based polymers are experiencing increased demand from this industry that are used to draw or hold various materials together for the formation of a cohesive whole chemically or mechanically.

Coatings and paints that are produced from polymer binders have been applied across the architectural sector, not only for interior but also for exterior applications. These binders are prominent ingredients in coatings as they are used to impart flexibility, gloss, and adhesion.

Recent advancements in paint technology, especially in acrylic formulations, are providing a wide variety of weatherproof coatings. So, these abovementioned factors are forecasted to contribute to increased demand for these binders in architectural coatings.

“Growing Production of Electric Vehicles in Automotive Industry”

In recent years, polymer binders are used at an increased rate in the automotive industry for auto parts. Their applications are increasing in the industry with a tendency for future growth in automotive. Moreover, polymer binders are preferred compared to other materials owing to their easy manufacturing methods, affordability, and lightweight.

The use of polymer binders in the automobile industry ensures lesser consumption of fuel in electric vehicles. As per the data provided by the IEA (International Energy Agency), electric cars accounted for 1% of the global car stock and 2.6% of global car sales in 2019. These sales have been registered despite the COVID-19 pandemic.

Thus, the demand for polymer binders is projected to increase in the forecasted period due to the capabilities of EVs and the ability of the automotive industry to recover from the global crisis.

What Can Reduce the Consumption of Polymer Binders to Some Extent?

“Absence of Quality Control in Developing Economies”

At present, quality control is absent in different applications including, paints and coatings, building and construction, and others in developing nations that are restraining growth opportunities in the global polymer binders market. Significant growth in the infrastructure of developing nations can lead to compromises with polymer quality. The key reason for the quality degradation of polymer binders is fluctuation in the costs of raw materials.

Market vendors need to pay some additional costs for raw materials with high quality which can limit the adoption of polymer binders. Also, the sales of these binders are impacted if the product quality is compromised as consumers are shifting to other alternatives of carpet and paper products. Thus, these abovementioned factors are predicted to restrict the growth opportunities in the industry.

“Limited Adoption of Polymer Binders Due to Risks Associated with Spray Dying”

The demand for polymer binders is also impacted owing to the risks that are associated with spray dying which is one significant use of these solutions. These risks with the application of binders can restrict the adoption of binders and thus limit growth opportunities in the global market.

Which Regional Market is Projected to Experience Steady Increase in Demand for Polymer Binders?

“Rising Requirements for Polymer Binders for Use in Architectural Coatings Sector in Asia Pacific”

The market in the Asia Pacific region is forecasted to grow at the highest speed. The rapid growth is owing to the increasing demand for polymer binder solutions from architectural coatings with an increasing count of construction activities in regional countries, such as India and China.

The presence of key producers and players of polymer binders in the regional market including, Wacker Chemie AG, Arkema, Celanese Corporation, and BASF SE are also contributing to market growth. Moreover, increasing public and private infrastructural demand in regional countries is also bolstering demand for these binders. The region also has the third position in the global textile industry which also contributes to the increased demand for polymer binders.

Country-wise Insights

What is the Outlook for the Japanese Market for Polymer Binders?

“Matured Architectural & Infrastructural Industry Propelling Demand for Paints & Coatings”

Sales of polymer binders in Japan are estimated to progress at a CAGR of 5.5% through 2033. The rapid increase in the demand for these polymers is attributed to the matured architectural and infrastructural industry in Japan. This growth further stimulates demand for paints and coatings which leads to increased sales of polymer binders.

Which is a Prominent Market for Polymer Binder Manufacturers in Europe?

“Rising Demand for Polymer Binders in Automotive Industry in Germany”

The market in Germany has been expected to reach a CAGR of 6.3% through 2033 because of significant growth in the automotive industry in past few years. Thus, the demand for polymer binders increases with the growing production of automobiles in Germany. In addition, the rising demand for polymer-based binders in the construction industry is also contributing to increased opportunities for market players.

Why are Polymer Binders So Popular in the U.S.?

“Rapid Growth of Automotive Industry in the Country”

The value of the U.S. market has been more than US$ 7 billion in the year 2022 due to rapid growth in the automotive industry that is fueling demand for a wide variety of polymer binders. The leading manufacturers of polymer binders are extending their production capacities in the U.S. market to meet the rising demand for these solutions.

For instance,

• Arkema (France), in 2018 expanded its capacity to produce polymer binders at its Michigan facility in the United States.

In addition, the demand for these binders in Canada is projected to advance at a CAGR of 8.2 % through 2033.

Category-wise Insights

Why are Acrylic Polymer Binders Most Sought-after?

“Good Performance and Low Cost of Acrylic Polymer Binders”

Based on type, the global market is segmented into acrylic, vinyl acetate, latex, and others. Among these, acrylic polymer binders are used at an increased rate due to their low cost and good performance. Further, these solutions come with excellent pigment binding capacity, good abrasion resistance, water resistance, and alkali resistance. Thus, these features make them an ideal solution for coatings for low-cost architectures.

The construction and automotive industries also use acrylic polymer binders due to their strong adhesive characteristics and properties. These types of binders bond quickly with various materials including non-plastics, which are either thermosetting or thermoplastics polymers.

Moreover, rising technological advancements across end-use industries, continuous inventions, and widespread R&D activities are driving opportunities for industry players.

Which End-use Industry Holds the Largest Share of the Polymer Binders Market?

“Dominance of Architectural Coatings in Global Polymer Binders Market”

The industry of polymer binders is classified into architectural coatings, adhesives & sealants, textiles & carpets, paper & boards, construction additives, and others based on application. Among these, architectural coatings held the largest in the global industry due to increased demand for these binding solutions across emerging economies.

Further, the textile industry is also a noticeable consumer of polymer binders.

Which is the Most Popular Form of Polymer Binders?

“Liquid Polymer Binders Gaining Popularity Due to Ease in Processing”

The global market has been divided into liquid, powder, and high solids, based on form. Among these, liquid polymer binders held the highest share of the market because of the increasing preference for paints and coatings in the construction industry. Moreover, these binders are comparatively easy to process.

Competitive Landscape

Industry players are entering into partnerships to open up new opportunities for market growth.

For instance,

• Adani Group and BASF signed an MoU (Memorandum of Understanding) in February 2019, on the evening of the Vibrant Gujrat Global Summit of the same year. This MoU aims to evaluate a prominent investment across the acrylics value chain. This initiative has been looked upon as the largest investment of BASF in India so far.

Key players in the polymer binders market are Arkema, Wacker Chemie AG, BAEF SE, Trinseo, Celanese Corporation, Synthomer PLC, Dairen Chemical Corporation, and OMNOVA Solutions Inc.

Segmentation of Polymer Binders Industry Research

• By Type :

  • Acrylic
    • Pure Acrylic
    • Styrene Acrylic
    • Vinyl Acrylic
  • Vinyl Acetate
    • Polyvinyl Acetate
    • Vinyl Acetate Ethylene
    • Ethylene Acetate
  • Latex
    • Styrene Butadiene Copolymer
    • Styrene Butadiene Rubber
  • Others

• By Application :

  • Architectural Coatings
  • Adhesives & Sealants
  • Textiles & Carpets
    • Textile Coating
    • Carpet Backing
  • Paper & Boards
  • Construction Additives
    • Tiling and Flooring
    • Mortar Mix
    • Plastering and Insulation Systems
  • Others

• By Form :

  • Liquid
  • Powder
  • High Solids

• By Region :

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa