The purpose of this rich study presented by FactMR is to elaborate the various market projections impacting the global coating binders market during the period until 2027. This assessment delivers high-end statistics concerning market size, Y-o-Y growth in trends and revenue share (US& Mn) linked to different geographies and segmentation types. Readers can acquire precise insights about growth trends along with opportunities that are expected to reshape the overall structure of the coating binders market during the forecast period.
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Tier 1 Players Hold their Position in Coating Binders Market with Significant Share:
Tier 1 players in the coating binders market account for 40%-50% of revenue share. The leading players in the market are focusing on strengthening their regional presence. The companies are planning to expand through mergers and acquisitions, and new product launches. Rise in stringent regulations on limiting Volatile Organic Compounds (VOC) emission across globe is also resulting in new product launches by manufacturers. For instance, BASF SE, one of the leading players in the coating binders market launched new low odor binder for paper coating, with minimal content of VOC. Moreover, BASF’s construction chemicals division recently opened a development laboratory in Dubai. The company is focusing on developing new technologies to improve performance of construction and concrete materials.
Other major players in coating binders market like The Dow Chemical Company and Arkema SA are also focusing on expanding the distribution network, product innovation, and entering into strategic partnership with coating manufacturers.
Rapid urbanization and infrastructure growth in emerging economies is resulting in an increasing demand for coating binders. Epoxy resins as coating binders are finding large application in the construction and infrastructure sector. The Asia Pacific holds growth opportunities for coating binders’ manufacturers, with substantial growth in the infrastructure sector in China and India.
Water-based products are gaining popularity in the coatings industry. Acrylic polymers as binders are used widely in paints as water-borne emulsions. These water-borne emulsion paints are used on a large scale as decorative paints for outside and inside of buildings. According to the report by expert team from Global Construction Perspectives and Oxford Economics, volume of construction output is likely to growth by 85% worldwide by 2030, driven by India, China, and the US. The move towards water-based coatings can be seen across various regions with stringent regulations on VOC emissions. According to the Paint Quality Institute, water-based paints account for around 80% of household paints sales.
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Environmental compliance is emerging as a primary reason for various industries shifting towards water-based coating technology. National, state, and local governments across the globe are regulating VOCs by limiting the amount businesses are allowed to emit in a particular time period. Businesses are also using water-based coating technology to lower VOC output, as it has no or considerably fewer solvents. One of the main reasons for increased use of water-based coatings in interior house paint and the heavy-duty protective coating is it leads to very fewer odors that can be uncomfortable and hazardous to the health.
The demand for structural steel has increased in recent years, this is resulting in the development of water-based intumescent coatings that react under influence of fire. Also, the vast majority of the waterborne intumescent coating are based on Vinyl Acetate (VA) due to the low-cost and self-charring capacity.
New Technologies Making Mark in Coating Binders Market
The on-going trend of low and zero VOC coatings is offering opportunities for innovation in coating binders. Antimicrobial coating technology is gaining popularity ensuring microbial control, providing hygienic surfaces and providing film preservation in paints. For instance, Croda has launched MyCroFence, a first-generation acrylic binder with the active antimicrobial surface component.
With the increasing use of lithium-ion batteries in the automotive sector, manufacturers in the coating binders market are focusing on developing effective coating binder material that can replace industry standard polyvinylidene fluoride (PVDF) binder, a toxic solvent with the water-based solvent.
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