Styrene Acrylic Emulsion Polymer Market
Market Research Future (MRFR) study on the global styrene acrylic emulsion polymer market (2016-2023) analyzes COVID-19 on the main factors that drive market growth. The study addresses existing competition and global market trends, offering a detailed summary of both growth factors and constraints, which may have a positive or negative effect on the industry's outlook during the forecast period.
Styrene acrylic emulsion polymer is produced by the emulsion polymerization of styrene and various acrylate esters, such as butyl acrylate, acrylic acid, etc. Styrene acrylic emulsion polymers are versatile in nature due to their ability to serve as building blocks and high glass transition temperature. Styrene acrylic emulsion polymer is cost-efficient and commonly used as an opacifier in cosmetics & personal care products. They possess exceptional properties such as low emission VOCs (volatile organic compounds), excellent durability, and UV resistance due to which they are used in end-use industries such as paper & packaging, building & construction, paint & coatings, cosmetics & personal care, and others.
Key Players:
The prominent players identified by MRFR in the styrene acrylic emulsion polymer market include The Dow Chemical Company (U.S), Celanese Corporation (U.S.), Pexi Chem Private Limited. (India), H.B. Fuller (U.S.), Acquos (Australia), The Lubrizol Corporation (U.S.), Xyntra Chemicals B.V. (the Netherlands), and others.
Market Dynamics
The styrene acrylic emulsion polymer market is expected to expand due to its increasing importance as an opacifier in the cosmetics & personal care industry. In addition, the demand for styrene acrylic emulsion polymer industry has benefited from social and regulatory action in encouraging the use of eco-friendly emulsion. Increasing investment in the mining and construction industry and the growth of the manufacturing sector in developing regions boost the demand for styrene acrylic emulsion polymer. Increased use of styrene acrylic emulsion polymer in packaging materials such as envelopes, tape, and labels is also anticipated to augment market development. The increase in water-based emulsion consumption has contributed to the use of styrene acrylic emulsion polymer in the paint & coating industry.
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However, the high price of raw material styrene is expected to impede demand growth in the coming years.
Market Segmentation
The global market for styrene acrylic emulsion polymer has been segmented based on application and end-user.
Based on the application, the global market for styrene acrylic emulsion polymer has been segmented into opacifier, binders, adhesives, construction chemicals, and others.
Based on the end-user, the global market for styrene acrylic emulsion polymer has been categorized into paper & packaging, cosmetics & personal care, building & construction, paints & coatings, and others. Styrene acrylic emulsion polymer is highly resistant to alkali and UV rays and shows excellent adhesive properties, thus used as a construction chemical in the building & construction sector.
Regional Analysis
Region-wise, the global market for styrene acrylic emulsion polymer comprises five regions: Asia Pacific, Europe, Latin America, North America, and Middle East & Africa.
The Asia Pacific area is projected to rise at the highest CAGR level over the next six years. This is due to the growing demand from end-use industries such as paints & coatings, cosmetics & personal care, and building & manufacturing. The global market for styrene acrylic emulsion polymer is expected to increase in developing countries such as China, India, Vietnam, Malaysia, and Japan as a result of growing construction activities and developments in the paint & coating industry.
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The Middle East & Africa is expected to see significant growth during the forecast period.
North America is expected to see a gradual rise in the use of styrene acrylic emulsion polymer over the forecast period. The U.S. is estimated to be the largest market for styrene acrylic emulsion polymers in the region, followed by Mexico and Canada.
Latin American countries, especially Brazil and Argentina, are expected to see steady growth due to the expansion of the paint & coating and paper & packaging industries.
Europe is predicted to be the leading market in the cosmetics & personal care industry. Increasing the use of styrene acrylic emulsion polymer in cosmetic & personal care products is expected to fuel market growth. However, the stringent regulations imposed by the European Chemicals Agency (ECHA) and the European Environment Agency (EEA) on the emission rate of VOCs compel regional manufacturers to turn their attention on the production of environmentally friendly paints.
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