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 processability 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 others. Among them, acrylic accounted to the largest share of the market in 2017. This is mainly due to the wider scope of application of these type of polymer binders in the paints and coatings industry for the longevity of the paint. The product is primarily used in manufacturing 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 2022, which mainly attributed to the surging demand in the emerging economies. The textiles industry is also a significant consumer of polymer binders.
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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