Global Statistics Representing Bio-Emulsion Polymer Market Scenario
Global bio-emulsion polymer market is expected to remain resilient amid vagaries in market conditions. With burgeoning demand from certain segments, the market is expected to register a CAGR of 7.71% during the forecast period (2019–2026) and attain a value of USD 541.8 million by 2026.
Bio-emulsion polymers are manufactured from renewable raw materials; typically, they are obtained from two methods – bio-based sugar macromer and bio-based latex polymer. The bio-based latex polymer method uses starch produced from natural substances such as rice, corn, and potato to fabricate polymers. moreover, the bio-based sugar macromer method uses sugar as feedstock for the final production of polymers. Product exhibit superior performance offer an extended lifespan, and are non-toxic in nature, and these characteristics drive their application across sectors such as paint & coating, adhesive, textile, paper, and others.
The bio-emulsion polymer market is witnessing significant market growth due to the rising demand for durability and high performance products. Volatility in petrochemical feedstock prices and the abundant availability of biomass further drive the growth of the bio-emulsion polymer market.
Improving infrastructure, coupled with the growing demand for eco-friendly & sustainable materials for construction, is likely to drive bio-emulsion polymer market growth in emerging economies such as China, India, Japan, Brazil, and South Africa. Market growth may however be restricted due to the high price and complex manufacturing process of biopolymers as compared to synthetic chemicals. Major Key players are investing heavily in R&D for the development of 100% bio-based polymers. Further, the development of niche applications such as paper & paper board coatings is expected to offer a key opportunity for market growth in the near future.
Globally, the bio-emulsion polymer market is segmented by product and application.
Acrylics, vinyl acetate polymer, styrene-butadiene latex, and others are the types of product of market. The acrylics segment is likely to account for a prominent market share during the forecast period, on account of the wide application scope of bio-emulsion polymers across paper coating, adhesive, paint, cement modifier, and textile industries. Acrylics has its superior characteristic such as hardness, excellent weatherability, and resistance to sunlight which enhance the product value.
Based on application, the bio-emulsion polymer market is segmented into paint & coating, adhesive, paper & paperboard coating, and others. Paint & coating based applications are expected to witness considerable growth in the market during the forecast period, owing to their low VOC content.
Geographically, the bio-emulsion polymer market is segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).
North America is experiencing significant growth in the bio-emulsion polymer market due to the rising consumer preference towards eco-friendly products. Additionally, favorable government regulations are also expected to aid the growth of the bio-emulsion market in the region.
In Europe, government regulations regarding the use of eco-friendly and natural sources drive the growth of the bio-emulsion market. Increasing demand for ‘BioPreferred’ labeled chemicals in the U.S., coupled with the launch of the ‘BioChem’ project in the European Union, is anticipated to have a positive impact on market growth in these regions.
The Asia Pacific bio-based emulsion polymers market is expected to witness an above-average growth rate over the forecast period as a result of the growing environmental awareness among consumers in the region.
Some of the major players in bio-emulsion polymer market are BASF SE (Germany), Clariant (Switzerland), Cytec Industries (U.S.), The Lubrizol Corporation (U.S.), DIC CORPORATION (Japan), Arkema S.A. (France), Nuplex Industries Ltd (Australia), Trinseo (U.S.), The Dow Chemical Company (U.S.), and OMNOVA Solution Inc (U.S.).
Global Bio-Emulsion Polymer Market Segmentation