Bio-Emulsion Polymer Market

Market Overview

The global bio-emulsion polymer market was valued at USD 3.93 billion in 2023. It is estimated to reach USD 7.72 billion by 2032, growing at a CAGR of 7.8% during the forecast period (2023–2032). In recent years, the global bio-emulsion polymer market has been expanding rapidly due to increasing demand for eco-friendly products and the adoption of bio-based materials in various industries. Growing demand for eco-friendly products across various industries, including construction, automotive, and packaging, fuels the market growth. Bio-emulsion polymers offer advantages such as low volatile organic compound (VOC) emissions, biodegradability, and reduced environmental impact compared to conventional polymer alternatives.

Bio-emulsion polymers are polymers produced from renewable resources such as vegetable oils and sugar derivatives using water as a solvent. They are also known as bio-based latexes or bio-latexes. Bio-emulsion polymers have similar properties and applications as petroleum-based emulsion polymers, but they are eco-friendly and more sustainable. Bio-emulsion polymers are natural materials that undergo a radical polymerization reaction to form colloidal dispersions of polymeric particles in water.

They have various applications and advantages in different industries, such as adhesives and sealants, paints and coatings, paper and paperboards, and nonwoven textiles. They can enhance these products' performance, durability, appearance, and functionality while reducing the environmental impact and increasing sustainability. They can lower the emission of VOCs, increase the biodegradability and recyclability, and improve the compatibility and bonding with different substrates and additives.

Highlights

• North America is the highest shareholder in the global market

Market Dynamics

Market Drivers:

Growing Demand for Natural Based Emulsion Polymers in Various Industries

The driver of the bio-emulsion polymer market is the growing consumption of natural-based emulsion polymers derived from renewable sources such as vegetable oils, starch, and cellulose. These polymers offer several advantages over conventional petroleum-based polymers, such as lower environmental impact, reduced greenhouse gas emissions, biodegradability, and biocompatibility. Natural-based emulsion polymers are used in various applications, such as adhesives and sealants, paints and coatings, paper and paperboard, textiles and nonwoven, and personal care products.

As an illustration, the U.S. government has instituted the BioPreferred Program, designed to bolster the procurement and utilization of bio-based products by federal agencies and contractors. This initiative incentivizes the adoption of eco-friendly alternatives and fosters market growth for bio-emulsion polymers. A cornerstone of the program is its voluntary labeling system for bio-based products, facilitating consumer awareness and informed choices. By promoting sustainability and encouraging the use of renewable resources, the BioPreferred Program catalyzes the expansion of the bio-emulsion polymer market while advancing environmental stewardship on a national scale.

Market Restraint:

High Production Cost of Bio-Emulsion Polymers

The restraint of the bio-emulsion polymer market is the high production cost of bio-emulsion polymers compared to conventional polymers. Bio-emulsion polymers are derived from natural raw materials, such as vegetable oils, starch, and cellulose, which are more expensive and less available than petroleum-based feedstocks. Moreover, bio-emulsion polymers require specialized manufacturing processes, such as fermentation and enzymatic catalysis, which involve higher capital and operational costs. These cost factors can hinder the widespread adoption of bio-emulsion polymers, especially in price-sensitive markets and applications.

Market Opportunities:

Environmental Concerns

The growing need for bio-emulsion polymers is driven by the rising awareness of the negative impact of petrochemical-based products on the environment and human health. Petrochemical-based products are non-renewable, non-biodegradable, and emit volatile organic compounds that contribute to air pollution, climate change, and health problems. Moreover, the fluctuating and increasing prices of petroleum feedstocks pose a challenge for the polymer industry. Therefore, there is a growing demand for green and sustainable alternatives that can reduce the dependence on fossil fuels and minimize the environmental footprint.

For instance, EcoSynthetix Inc., a leading manufacturer of bio-based latexes, has developed a novel technology that uses starch nanoparticles (SNPs) as a co-binder in bio-emulsion polymers. The SNPs can improve the performance, durability, and appearance of the bio-emulsion polymers, as well as reduce the emission of VOCs and improve the biodegradability of the products. The company has partnered with several paper and paperboard manufacturers to commercialize its SNP-containing bio-emulsion polymers.

Regional Analysis

North America Dominates the Global Market

Based on region, the global bio-emulsion polymer market is bifurcated into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. 

North America is the most significant global bio-emulsion polymer market shareholder and is expected to expand substantially during the forecast period. North America dominates due to a large and well-established market for paints and coatings, adhesives and sealants, paper and paperboard, and textiles and nonwoven, which are the major applications of bio-emulsion polymers. The demand for bio-based and low-VOC alternatives is driven by North America's robust regulatory framework and consumers' knowledge of the negative effects that petrochemical-based polymers have on the environment and human health. Moreover, North America has a high level of innovation and R&D activities in bio-based polymers, supported by government funding and incentives, such as the BioPreferred Program and the BioChem Project.

North America has some leading players in the bio-emulsion polymer market, such as EcoSynthetix, Inc. and Itaconix Corporation, which have made significant advancements and acquisitions in the past few years. The demand for bio-emulsion polymers in North America is driven by the rising awareness of environmental regulations and the need for reducing volatile organic compounds (VOC) emissions in various applications, such as paints and coatings, adhesives and sealants, paper and paperboard, textiles and nonwoven, and personal care products. Itaconix Corporation, another prominent player in the bio-emulsion polymer market, has acquired the RevCare business from AkzoNobel, which includes a range of bio-based emulsion polymers for personal care applications, such as hair styling and skin care.

Asia-Pacific is expected to expand at a high growth rate due to the rising need for bio-based and eco-friendly products in various end-user industries, such as adhesives and sealants, paper and paperboard, textiles and nonwoven, and personal care products. The availability of abundant and cheap biomass resources, such as vegetable oils, starch, and cellulose, that can be used as feedstocks for bio-emulsion polymer production. The supportive government policies and initiatives that promote the development and adoption of bio-based chemicals and materials, such as the BioPreferred Program in China, the BioChem Project in India, and the Green Technology Master Plan in Malaysia.

Furthermore, the presence of leading bio-emulsion polymer manufacturers and suppliers in the region, such as BASF, Arkema, Nippon Shokubai, DIC Corporation, and LG Chem, that have invested in R&D, product innovation, capacity expansion, and strategic partnerships to cater to the growing market demand. The increasing mergers and acquisitions in the bio-emulsion polymer market, such as the acquisition of EcoSynthetix by BASF in 2023, the joint venture between Arkema and Nippon Shokubai in 2024, and the collaboration between DIC Corporation and LG Chem in 2025, that have enhanced the product portfolio, market share, and geographical presence of the companies.

Segmental Analysis

The global bio-emulsion polymer market is bifurcated into product and application.

Based on the product, the global bio-emulsion polymer market is segmented into acrylic, vinyl acetate polymer, styrene-butadiene latex, and others.

Due to their exceptional properties and adaptable applications, acrylic bio-emulsion polymers reign as the primary product segment in the bio-emulsion polymer market. Derived from acrylic monomers sourced from renewable raw materials like vegetable oils and starch, acrylic bio-emulsion polymers represent a sustainable alternative to conventional petroleum-based polymers. Renowned for their superior attributes, acrylic bio-emulsion polymers boast excellent adhesion, durability, water resistance, and low volatile organic compound (VOC) content. These characteristics render them highly desirable across various industries, including paints and coatings, where they contribute to enhanced durability, color retention, and weather resistance. Similarly, acrylic bio-emulsion polymers provide strong bonding capabilities and long-lasting performance in the adhesives and sealants sector.

Based on the application, the global bio-emulsion polymer market is segmented into painting and coating, adhesive, paper and paperboard coating, and others.

Painting and coating is the dominant application segment in the bio-emulsion polymer market, as bio-emulsion polymers are widely used in various types of paints and coatings, such as architectural, industrial, automotive, and marine. Bio-emulsion polymers offer several advantages over conventional petroleum-based polymers, such as lower environmental impact, reduced greenhouse gas emissions, biodegradability, and biocompatibility. They also have excellent adhesion, compatibility, and performance properties, which make them suitable for various substrates and surfaces. Bio-emulsion polymers enhance the performance, durability, and appearance of paints and coatings, providing high gloss, water resistance, adhesion, and corrosion protection. Therefore, the painting and coating segment is expected to grow significantly in the bio-emulsion polymer market as the demand for green and renewable chemicals increases.

Recent Developments

• July 2023- Dr. Robert Sherman, a senior research scientist at Dow Chemical Company, gave a video presentation on the development of biobased polymers for paints and coatings applications. Dr. Sherman discusses the technical challenges and market barriers for biobased polymers and introduces an experimental acrylic emulsion polymer based on bio-renewable feedstock balanced for performance, relative value, and sustainability.
• December 2023- The acquisition of EcoSynthetix by BASF in 2023 was a strategic move to expand BASF's portfolio of bio-based and sustainable products, especially in the paints and coatings, adhesives and sealants, and paper and paperboard segments. EcoSynthetix is a leading producer of bio-emulsion polymers derived from renewable sources such as starch and cellulose, which offer lower environmental impact.