Polymer Binders Market Size will grow at a CAGR During 2021-2027
Market Overview
Binder or a binding agent is a material that holds
different materials together in order to provide a strong cohesion or adhesion
to the whole structure. The binders commonly occur in a solid or liquid state
which undergoes a chemical process to be used as a binding agent. The polymeric
binders are both waterborne and solvent borne depending upon the type of
solvent used. The important physical properties conferred by the polymer
binders to the substrate are the excellent binding, high strength and durability,
and relative inertness towards various chemicals. In the market, polymer
binders mainly occur in the form of liquid, powder and high solids. The major
applications of the polymer binders are paints & coatings, construction,
textiles & carpets, paper & boards, and pharmaceuticals, among others.
Based on form the global Polymer Binders Market has been segmented
into liquid, powder, high solids, and others. Liquid segment held the largest
market share in 2017 on account of its easy process ability and preferability
in paints and coatings applications. Powder form is also growing at a healthy
CAGR during the forecast period.
By type, the market is categorized into acrylic,
vinyl acetate, polyurethane (PU), polyester (PE), and other. Among them,
acrylic accounted to the largest share of the market in 2017. This mainly due
to wider scope of application of these type of polymer binders in paints and
coatings industry for longevity of the paint. The product is primarily used in
manufacturing the various coatings and paints. Moreover, it also used in the
automotive components for effective bonding of the parts. This is anticipated
to fuel demand for the product during the review period.
On the basis of application, the global polymer
binders market has been categorized into paints & coatings, construction,
textiles & carpets, paper & boards, and pharmaceuticals, among others.
The paints and coatings industry held the major market share in 2017, which
mainly attributed to the surging demand in the emerging economies. The textiles
industry is also a significant consumers of the polymer binders.
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Market Segmentation
The global Polymer Binders market has been segmented
on the basis of form, type, application, and region.
Based on form, the global polymer binders market has
been segregated into liquid, powder, high solids, and others.
By type, the market has been categorized into
acrylic, latex, vinyl acetate, polyurethane (PU), polyester (PE), and others.
On the basis of application, the market has been
divided into paints & coatings, construction, textiles & carpets, paper
& boards, and pharmaceuticals, among others.
The global polymer binders market has been studied
with respect to five regions—Asia-Pacific, North America, Europe, Latin
America, and the Middle East & Africa.
Regional Analysis
The global polymer binders market has been studied
with respect to five regions—Asia-Pacific, North America, Europe, Latin
America, and the Middle East & Africa. The market in Asia-Pacific is
anticipated to grow at a high CAGR due to the increasing demand for the product
in the construction, textiles, and paper industries. North America is expected
to witness considerable growth during the forest period. This is due to the
growing demand for the product in various the reconstruction activities in this
region.
Competitive Analysis
The leading players in the global polymer binders
market are BASF SE (Germany), Wacker Chemie AG (Germany), Celanese Corporation
(US), Arkema (France), Dairen Chemical Corporation (Taiwan), Chemrez
Technologies, Inc. (Philippines), OMNOVA Solutions Inc. (US), Toagosei Co.,
Ltd. (Japan), Visen Industries Limited (India), and shandong hearst building
materials co., ltd. (China), among others.
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