LONDON, July 21, 2016 /PRNewswire/ -- The global emulsion polymer market is expected to reach USD 56.86million by 2024, according to a new report by Grand View Research, Inc. Acrylic use for superabsorbent polymers and personal care products is increasing on account of their quick drying ability and water resistance characteristics. Such favorable characteristics are anticipated to augment overall industry demand.
Increasing construction spending, particularly in Asia Pacific and the Middle East, has prompted the demand for paints & coatings in the recent past. The growth of paints & coatings industry has had a direct impact on emulsion polymer demand. Stringent environmental regulations to control noxious chemical emissions coupled with increasing preference for greener products are expected to limit synthetic based demand and augment bio-based and water based product demand. Volatile prices of key raw materials are expected to remain a key challenge for market participants over the forecast period.
Acrylics was the leading product segment and accounted for 39.3% of total market volume in 2015. High demand for diapers & training pants and personal care particularly in the emerging markets of Asia Pacific is expected to drive this segment over the forecast period. It is also expected to witness the highest growth of 6.0% from 2016 to 2024.
Further key findings from the report suggest:
The global emulsion polymer market demand was 13.36 million tons in 2015 and is expected to reach 21.88 million tons by 2024, growing at a CAGR of 5.7% from 2016 to 2024
Paints& coatings emerged as the leading application segment with demand share exceeding 35% in 2015. Increasing construction activities in China, India, South Korea and the Middle East coupled with a positive outlook on the global automotive industry is expected to drive this segment over the forecast period.
Asia Pacific was the leading regional market with demand share estimated 40% in 2015. Rapid urban construction has increased the paint consumption which in turn is expected to fuel the global market. Asia Pacific is also expected to witness the fastest growth of 7.2% from 2016 to 2024.
Key players operating in the global emulsion polymer market include Nuplex industry, Synthomer, STI polymer, Wacker Chemie AG, BASF, Omnova Solutions, Styron, Clariant International Limited, and DIC Corporation. Product innovation coupled with expansion strategies are expected to be adopted by the mid-sized manufacturers to increase their global presence.
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