Emulsion Polymers Market is Expected to Rise at a CAGR of 6.1% From 2015 - 2023
The improving GDPs of developing nations and the ambitious upgrade in the standard of living with rising per capita incomes have collectively provided an impetus to the overall construction industry in Asia Pacific and Latin America. The expansion of this industry has had a direct impact on the demand for paints and coatings, thus augmenting the emulsion polymers market. Emulsion polymers are used in manufacturing paints and coatings for improving the quality of the color, heat sensitivity, and self-repairing abilities.
Owing to the demand for high-quality paints, manufacturers are using emulsion polymers on a large scale to add value to their products. These formidable market drivers are expected to create an opportunity worth US$54.9 bn by 2023 as compared to US$32.2 bn in 2014, with the market expanding at a CAGR of 6.1% between 2015 and 2023.
The market is also anticipated to grow as the demand for removable and permanent adhesives rises at a significant rate. Adhesives play a major role in the consumer goods industry, which includes household furnishings, packaging, and footwear. Needless to say, the increasing disposable incomes have bolstered the demand for these items, which in turn, has increased the demand for adhesives. This has provided the emulsion polymers market a significant impetus. The increasing uptake of adhesives in the automotive industry has also boosted the consumption of emulsion polymers in recent years.
The information Presented in this Review is Based on Press-Release by TMR
Asia Pacific has held a dominant share in the global emulsion polymers market with the support from developing countries of India and China. As the building and construction activities in these developing countries grows, it is expected to make a dramatic contribution to the regional revenues of this market. Furthermore, the flourishing demand for adhesives is likely to create an immense demand for emulsion polymers. Between 2015 and 2023, the Asia Pacific emulsion polymers market is expected to progress at a CAGR of 5.3%. Acrylics, a product of emulsion polymers, has been extensively consumed across Asia Pacific. The phenomenal demand for paints and coatings has been the key factor leading to the substantial uptake of acrylics.