The polymer emulsion market is projected to grow from USD 29.8 billion in 2018 to USD 42.9 billion by 2023, at a CAGR of 7.6%. The global polymer emulsion market is expected to be driven by various factors such as increasing demand from end-use industries, especially in the emerging economies. Stringent government regulations related to VOC emissions also drives the polymer emulsion market.
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Based on application, the polymer emulsion market is segmented into paints & coatings, adhesives & sealants, paper & paperboard, and others. The paints & coatings application segment is projected to lead the overall polymer emulsion market during the forecast period. Polymer emulsion is preferred for paints & coatings applications owing to their low VOC content. Moreover, polymer emulsion paints & coatings are not flammable, which reduces its storage & handling charges and fire insurance costs. The manufacturing process of polymer emulsion paints & coatings entails lower carbon footprint as they consume less energy. Other reasons contributing to the use of polymer emulsion paints & coatings are low cost of handling and post painting cleanup cost.
Acrylics are one of the most commonly used polymer emulsion, owing to their high durability and lack of VOC content. Furthermore, acrylics are used to prepare polymers with rigid, flexible, ionic, nonionic, hydrophobic, or hydrophilic properties. They are transparent, have resistance to breakage, provide excellent finish gloss, improved adhesion to non-porous surfaces, and good flow and stability.
In March 2018, BASF SE (Germany) expanded its production facilities of Joncryl water-based emulsions at its Ludwigshafen site. This will strengthen the company’s position as a leading manufacturer of water-based resin and emulsion which are used in overprint varnishes, printing inks, as well as functional coatings for flexible packaging and paper & board applications.
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The APAC region is the largest consumer of polymer emulsion across the globe. Increasing infrastructure development, expansion in industrial & automotive sectors, strong economic growth, and increasing middle-class population are driving the demand for polymer emulsion in different applications. In APAC, countries such as China, Japan, and India are the largest consumers of polymer emulsion due to their increasing manufacturing output and rapid urbanization. The regulatory bodies and the regional governments have started addressing VOC emission issues with the help of stringent rules and regulations, which increases the demand for green products. This is also expected to fuel the demand for polymer emulsion.