Acrylic Binders Market: Introduction
Acrylic binders are chemical binding agents that are used in paints, coatings and paper & pulp industries. They provide either thermosetting or thermoplastic properties. Acrylic is a glassy thermoplastic resin made by polymerising acrylic acid or meth-acrylic acid. It is used in solvent-applied inks, lacquers, adhesives, specialty coatings and linings. Properties associated with acrylic binders are abrasion resistance and resistance to ultraviolet degradation. They are known for their incredible ability to remain durable even in extreme weather conditions. Acrylic binders can be formulated using solvents as well as water. At present, in developed regions, the increasing demand for non-VoC (Volatile Organic Compound) products has resulted in an increase in the demand for water-based acrylic binders.
Acrylic Binders Market: Dynamics
Growing demand for adhesives and sealants from the paints & coatings industries as well as from the construction industry is among the key factors driving the global acrylic market. Increase in the adoption of novel formulated coatings and adhesives in the construction industry due to frequent repair & maintenance activities, coupled with infrastructure development across the globe, is also driving the acrylic binders market over the forecast period. Moreover, growing urbanisation is contributing to the growth of the housing and building construction industry, which is, in turn, propelling the demand for water-based acrylic binder products. These factors are expected to accelerate the growth of the market over the forecast period. Furthermore, the unique characteristic properties of acrylic binders to comply with the requirements of end-use applications and the increasing demand for sustainable adhesives across the globe are also boosting the market.
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Furthermore, the increasing demand for low-VoC content paints and coating products in developed regions is also estimated to provide impetus for the growth of the acrylic binder market. However, the fluctuating prices of raw material are among factors likely to hamper the growth of acrylic binders market over the forecast period. In addition, increase in the number of stringent regulations imposed on the usage of several adhesives and sealants in the construction industry is expected to hinder the growth opportunity of the market. Apart from this, lack of awareness and acceptance from various end-use industries is also likely to hamper the growth of the acrylic binders market.
Acrylic Binders: Market Segmentation
On the basis of formulation, the global acrylic binders market can be segmented into:-
Water based acrylic binders
Solvent based acrylic binders
On the basis of end use, the global acrylic binders market can be segmented into:-
Paints & Coatings
Paper & Pulp industry
Acrylic Binders: Regional Outlook
The global acrylic binders market is expected to be dominated by the Asia Pacific region owing to the growing attention of investors in developing countries such as India and China. Moreover, the growing construction industry in APAC, coupled with significant growth in the chemical industry, is estimated to result in a noteworthy increase in the demand for acrylic binders throughout the forecast period. The market in developed regions, such as North America & Western Europe, is projected to grow at a lucrative rate. The North America market is expected to hold a significant share of the global market in terms of consumption. Furthermore, high demand for the renovation of old buildings in North America is also fuelling the demand for paints & coatings, which is resulting in the growth of the global market. In Europe, strict government regulations regarding industrial usage are expected to spur the demand for acrylic binders within the region. Latin America and Middle East & Africa are estimated to witness steady growth over the forecast period.
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Acrylic Binders: Key Participants
Examples of some of the market participants in the global acrylic binders market identified across the value chain include:
The Dow Chemical Company (Dow Coating Materials)
The Lubrizol Corporation
The Bodo Möller Chemie Group
OMNOVA Solutions Inc.