Asia Pacific Unsaturated Polyester Resin Market Size Estimated to Observe Significant Growth by 2024
The report by Transparency Market Research (TMR), the global emulsion polymers market has highly fragmented and competitive landscape due to the presence of numerous players operating in the global market. Some of the key players in the market are Synthomer plc, Celanese Corporation, BASF SE, The Dow Chemical Company, Trinseo S.A., and Arkema S.A. In 2014, some of the key players such as Arkema S.A., Celanese Corporation, Dow Chemical Company, and BASF SE collectively account for nearly 30.0% of the overall market. This dominance is a challenge for the new entrants. These key players are focused on product development and manufacture of bio-based products.
According to a report by Transparency Market Research (TMR), the global emulsion polymers market was valued at US$32.2 bn in 2014 and is expected to expand with a CAGR of 6.1% from 2015 to 2023, to attain the value of US$54.9 bn by the end of 2023. The Asia Pacific dominated the global market for emulsion polymer in 2014 and with a steady CAGR of 5.3%, the region is expected to remain dominant over the forecast period.
Government Regulations towards Environmental Protection to Drive Growth
The polymer which is obtained from an emulsion of monomer, surfactant, and water. The most of common procedure to conduct emulsion of the polymer are an oil-in-water emulsion. Emulsion polymers are relatively higher in weight, thus, they undergo polymerization very fast. Emulsion polymers are the green products and lead to eco-friendly techniques for coating and painting. Increasing demand for eco-friendly paint and coatings are driving the growth of the emulsion polymer market.
Additionally, government regulations towards environmental protection are supporting the growth of the market. Growing awareness toward the bio-based emulsion polymers and increased usage of using waterborne acrylic dispersion for its anticorrosive coatings properties are driving the growth of the market
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Bio-based Products to Offer Lucrative Opportunities
Despite these growth prospects, the fall in crude oil prices is negatively influencing the revenue of the overall market and which is a key restraint for the growth of the global market for emulsion polymer. Additionally, some stringent regulations imposed on the emission of some VOCs during manufacture are limiting the growth of the global emulsion polymer market. Nevertheless, the launch of bio-based products coupled with increasing awareness regarding these products is boosting its adoption which is creating lucrative opportunities for key players operating in the global market for emulsion polymers.
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