The paints & coatings application segment of the opaque polymers market is projected to grow at the highest CAGR between 2017 and 2022
NEW YORK, Dec. 21, 2017 /PRNewswire/ -- Increasing adoption of opaque polymers in paints & coatings application is driving the growth of the opaque polymers market.
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The opaque polymers market is estimated to be USD 1.70 billion in 2017 and is projected to reach USD 2.82 billion by 2022, at a CAGR of 10.7% during the forecast period. Opaque polymers are used in various applications such as paints & coatings, personal care, and detergents. The growth of the opaque polymers market is primarily driven by the increased demand for architectural paints in the construction industry. Opaque polymers possess excellent hiding and color retention properties due to which these polymers are widely used by paints & coatings manufacturers. The demand for opaque polymers is increasing in the architectural paints segment, owing to their affordable costs. However, lower performance of opaque polymers as compared to TiO2 is acting as a restraint to the growth of the opaque polymers market.
Paints & coatings is the fastest-growing application segment of the opaque polymers market.
The paints & coatings application segment of the opaque polymers market is projected to grow at the highest CAGR between 2017 and 2022. This growth can be attributed to the high demand for decorative paints in the construction industry and increase in commercial and residential infrastructure projects worldwide. Among all applications, the paints & coatings application segment accounted for the largest share of the opaque polymers market in 2016, in terms of value and volume.
Rising demand for decorative and architectural paints is driving the growth of the opaque polymers market in the Asia Pacific region.
The opaque polymers market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period, both in terms of value and volume. China and India are key markets for opaque polymers in the Asia Pacific region. The growth of the opaque polymers market in this region can be attributed to the increased demand for opaque polymers in the paints & coatings application.
Extensive primary interviews were conducted in the process of determining and verifying the market size for several segments and subsegments gathered through secondary research.
The break-up of primary interviews is given below.
• By Company Type: Tier 1 – 71%, Tier 2 – 23%, and Others – 6%
• By Designation: C Level – 48%, Director Level – 31%, and Others – 21%
• By Region: North America – 18%, Europe – 38%, Asia Pacific – 17%, South America – 7%, and Middle East & Africa – 20%
Key companies profiled in this market research report include The Dow Chemical Company (US), Arkema (France), Interpolymer Corporation (US), Organik Kimya (Turkey), Junneng Chemicals (China), Hankuck Latices (South Korea), Indulor Chemie (Germany), Visen Industries (India), En-Tech Polymer (South Korea), Croda International (UK), and Paras Enterprises (India).
Research Coverage
The opaque polymers market has been segmented on the basis of type, application, and region. This report covers the opaque polymers market, in terms of value and volume, and forecasts its market size till 2022. The report also provides company profiles and competitive strategies adopted by key players in the opaque polymers market.
Reasons to Buy the Report
The report will help market leaders/new entrants in the following ways:
1. This report segments the opaque polymers market and provides the closest approximations of revenue numbers for the overall market and its subsegments across different verticals and regions.
2. The report helps stakeholders understand the pulse of the market and provides information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders obtain an understanding of the competitive landscape of the market and gain insights to improve the position of their businesses. The competitive landscape section includes new product developments, expansions, agreements, contracts, partnerships, acquisitions, and joint ventures.
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