Rise In Demand For Synthetic Polymers In Coatings And Paints Deep Analysis By Reports And Data.
The global polymers market is forecast to reach USD 41.07 Billion by 2026, according to a new report by Reports and Data. The polymers market is projected to witness a significant growth during the forecast period. Factors like the rise in demand for synthetic polymers in coatings and paints, reduced demand for solvent-based adhesives and expansion in electronics and construction sector are some of the primary factors contributing to the growth of the market. The rising demand for coatings paints due to the expansion of different end-user industries like the automotive sector is also bolstering the growth of the market.
In the growth and expansion of the market, regional dynamics plays an integral role. In the majority of the regions, polymers find optimized application in paints and coatings, which is continuously driving the market. However, Southeast Asia and China are exceptions in this context. As an instance, polymers is extensively applied in the adhesive industry of China. The reason for the extensive use of this type of polymers in China's adhesive industry is because the region is a dominant producer of biaxially-oriented polypropylene tapes. This type of tapes requires latex polymers in high volumes. These regions hold significant opportunity for the expansion of the synthetic latex market that is needed to be tapped by its producers.
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Top Companies: BASF, Wacker Chemie, Synthomer, Dow, Celanese, Arkema Group, Asahi Kasei, ARLANXEO, Trinseo, And OMNOVA Solutions.
Key Companies in the market include:
The synthetic latex polymer market held a market share of USD 28.93 Billion in the year 2018. The market is expected to grow at a rate of 4.4% during the forecast period.
In regards to Type, the Styrene Acrylic segment generated the highest revenue of USD 10.13 Billion in 2018 with a CAGR of 4.6% during the forecast period. Factors like the varied application of this type of polymers in architectural coatings, roof coatings, and binders contribute to the revenue generated by this segment.
In context to Raw Materials, the market has been segmented into Styrene, Butadiene, and Others. Among these three segments, the Styrene segment is leading the market that generated the highest revenue of USD 15.91 Billion in 2018 with a CAGR of 4.6% during the forecast period. Factors like the extensive application of this raw material in different types of polymers like Styrene Acrylic and Styrene Butadiene contributes to the revenue generated by this segment.
In regards to Application, the Coatings Paints segment is dominating the market that holds the largest market share of 51.0% in 2018 with the fastest growth rate of 4.9% during the forecast period. The market share occupied by this segment is the result of high demand and various application of coatings paints in different end-user industries. The expansion of various end-user industries like the construction sector and the automotive industry propels the demand for coatings and paints that contributes to the growth rate of this segment.
In regards to region, North America holds the second-largest market share of 25.0% in 2018 with a CAGR of 3.4% during the forecast period. Factors like high demand of paint and coating products in this region, from end-user industries like the automotive sector is contributing to the market share occupied by this region.
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Market Segmentation:
Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Styrene-Butadiene
- Styrene Acrylic
- Vinyl Acetate Copolymer
- Acrylic
- Vinyl Acetate Ethylene
- Polyvinyl Acetate
- Others
Raw Materials type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Butadiene
- Styrene
- Others
Application Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Coatings Paints
- Nonwovens
- Adhesives Sealants
- Carpets
- Paper Paperboard
- Others
End-user Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Construction sector
- Automotive industry
- Electronics sector
- Textile industry
- Healthcare sector
- Others
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Key questions covered in the global Polymers market report:
- What is the expected market size of the global Polymers market during the forecast period?
- What factors are expected to hamper global Polymers market growth over the forecast period?
- What key factors are expected to drive global revenue growth between 2021 and 2028?
- Which application segment is expected to dominate other application segments over the forecast period?
- Which region is expected to dominate in terms of revenue during the forecast period?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
- Which leading players are operating in the global Polymers market?
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