The emulsion polymers market will witness an incremental growth of USD 11.29 Billion at over 6% CAGR during 2021-2025.
NEW YORK, June 21, 2021 /PRNewswire/ --
Technavio identifies the increasing demand for emulsion polymers from paints and coatings applications as one of the major factors driving the growth of the emulsion polymers market. Improvements in the standard of living and economies of countries have tremendously contributed to the growth of the automotive and construction industries. The growth of these industries has subsequently increased the use of emulsion polymers owing to their improved quality, heat sensitivity, and self-repairing ability.
Moreover, emulsion polymers have low VOC components. This coupled with the growing consumer awareness for safer products will create significant demand for emulsion polymers during the forecast period.
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In 2020, APAC accounted for about 52% of the global market share, and the region is expected to continue its dominance during the forecast period. The thriving end-user industries such as automotive and construction are creating a huge demand for emulsion polymers in the region. Also, the introduction of stringent norms to reduce products with high VOC levels is increasing the use of alternatives such as emulsion polymers across end-user industries in APAC.
Similarly, based on the application, the market generated maximum revenue from the paints and coatings segment in 2020. The growth of the segment can be attributed to the increasing consumer interest in interior decorations and exterior paint protection. In addition, the rising use of emulsion polymers in high-performance paints and coatings applications will support the growth of the segment during the forecast period.
Although the emulsion polymers market is expected to record a healthy growth during the forecast period, increasing raw material cost and stability issues with emulsion polymers might reduce the growth opportunities for market participants. This report on the emulsion polymers market will help businesses become better equipped, make informed decisions, and develop effective strategies to improve their market positions.
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