The global polymer emulsion market size is estimated at USD 25.2 billion in 2020 and is projected to reach USD 38.1 billion by 2025, at a CAGR of 8.6%, between 2020 and 2025. Polymer emulsions are used extensively in paints & coatings. The building & construction industry witnessed high growth due to increasing construction activities, coupled with rising demand for high-quality paints & coatings. Automotive is estimated as the second-largest end-use industry where polymer emulsion helps to provide flexibility, excellent adhesion, and wear resistance, which is required in the automotive interior.
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The polymer emulsion market is categorized into three types—low-density polyethylene (LDPE), high-density polyethylene (HDPE), and others. Cross-linked HDPE is used in pipes and tubing in the plumbing segment. The excellent combination of properties makes HDPE an ideal material for diverse applications in various industries. Almost all PEX materials used for wire and cable applications are based on LDPE to provide insulation owing to its excellent dielectric properties. The other types of PEX include middle-density polyethylene (MDPE), linear low-density polyethylene (LLDPE), ethylene-vinyl acetate (EVA), and polyolefin elastomers (POE).
Based on by foam segment, the blowing agent market is segmented into polyurethane foam (PU), polystyrene foam (PS), phenolic foam, polyolefin foam, and others (metal foams, inorganic foams, and biodegradable foams). Polyolefin foam is expected to register the fastest growth rate in the blowing agent market during the forecast period. The increasing global construction and packaging industries are expected to drive the demand for polyolefin foams, which in turn will boost the blowing agent consumption.
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The polymer emulsion market is segmented on type as acrylics, vinyl acetate polymers, SB latex, and others. The acrylics segment led the overall polymer emulsion market, accounting for the largest market share of the overall market, in terms of value, in 2019. The large usage drives the demand for the acrylics polymer emulsion in applications such as paints & coatings, adhesives & sealants in construction, industrial, and automotive & transportation industries. The polymer emulsion market is segmented on the application as paints & coatings, adhesives & sealants, paper & paperboard, and others. The growth in the paints & coatings sector plays a key role in driving the demand for polymer emulsion. The increased consumption of polymer emulsion in paints & coatings application.
DIC Corporation (Japan), Dow Chemical Company (US), BASF SE (Germany), Arkema Group (France), Celanese Corporation (US), Trinseo (US), The Lubrizol Corporation (US), Wacker Chemie AG (Germany), Synthomer Plc (UK), and Asahi Kasei Corporation (Japan) are the major players in the polymer emulsion market.
The polymer emulsion market in APAC is projected to register the highest CAGR between 2020 and 2025. APAC also represents the largest market for polymer emulsion. The large market size of the region is attributed to the high demand from building & construction, automotive & transportation, and industrial sectors in China, Japan, and India, among others. Stringent governmental regulations such as the REACH Europe and Clean Air Act are also driving the polymer emulsion market. Another factor leading to the growth of the polymer emulsion market is the awareness regarding the concept of green buildings.
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