The polymer emulsion market size in 2018 was estimated to be USD 29.8 billion and is projected to reach USD 42.9 billion by 2023, at a CAGR of 7.6%. The polymer emulsion market is driven by the demand and dynamic applications in building & construction, automotive & transportation, and other industries. Factors such as stringent government regulation related to VOC emissions and increasing awareness towards environment-friendly products are driving the consumption of polymer emulsion. However, volatile raw material prices adversely affect the growth of the polymer emulsion market.
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On the basis of type, the market is segmented into acrylics, vinyl acetate polymers, SB latex, and other polymer emulsions. The acrylics segment accounts for the largest share of the overall polymer emulsion market. The acrylics segment is also projected to witness the highest CAGR between 2018 and 2023. They are in high demand in a wide range of applications due to their superior properties such as durability and versatile nature. These are widely used in paints & coatings and adhesives applications. The vinyl acetate polymers segment accounts for the second-largest share of the overall polymer emulsion market. The high demand for vinyl acetate is due to its low price and wide usage in the construction industry.
On the basis of application, the market is segmented into paints & coatings, adhesives & sealants, paper & paperboard, and others. The polymer emulsion market is expected to witness the highest growth in the paper & paperboard segment during the forecast period. This growth is attributed to the increasing demand for polymer emulsion coated paper & paperboard for flexible packaging applications. The paints & coatings segment is the largest consumer of polymer emulsion. It is widely used in this segment because of its low VOC content and ease in storage and handling.
The APAC polymer emulsion market is projected to witness the highest CAGR between 2018 and 2023. The market in the region is dominated by China. The need to reduce VOC emissions and the growing demand from end-use applications such as paints & coatings and adhesives are driving the demand for polymer emulsion in the region. The rapid expansion of the building & construction and related infrastructure, increasing manufacturing activities, increasing disposable income, and strong economic growth is expected to further propel the growth of the polymer emulsion market.
