Redispersible Polymer Powder Market Overview -
In 2020, the global redispersible polymer powder market value is registered as USD 1.52 billion and is expected to exhibit a significant CAGR of 5.77% with a redispersible market size of USD 2.39 billion during the forecast period (2021-2028).
Market Research Future (MRFR), in their recent report on the same, revealed various opportunities that would boost the market expansion. The production of tiles adhesives, mortars, insulating systems, and others would boost the expansion of redispersible polymer powder market. This is getting bolstered by the urbanization and rising disposable income, which have triggered growth in residential and nonresidential constructions. The insulation segment may register 7.28% CAGR during the forecast period.
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The global market for redispersible polymer powder is expecting a boost from the strategic developments in various companies like The Dow Chemicals Company (U.S.), Wacker Chemie AG (Germany), Akzo Nobel N.V.(Netherland), Acquos (Australia), Hexion Inc (U.S.), Ashland Global Holding (U.S.), BASF SE (Germany), Synthomer Plc (U.K), Bosson Union Tech (China), Dairen Chemical Corporation (Taiwan), Benson Polymers Limited (India), Organic Kimya (Turkey), Puyang Yintai Industrial (China), and Divnova Specialities (India). These companies would take measured steps relying on various expenditures in research and development, acquisition, merger, and others.
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Redispersible Polymer Powder Market - Segments:
The global report on the redispersible polymer powder market can be studied on the basis of a segmentation that relies on type, application, and end user industry. These segments include details about various steps of the market, which would help in a better understanding of the market.
By type, the report in the redispersible polymer powder market includes vinyl acetate-ethylene redispersible polymer powder, acrylic redispersible polymer powder, styrene-butadiene redispersible polymer powder, veova redispersible polymer powder, and others. The vinyl acetate-ethylene redispersible polymer powder would record 7.5% CAGR during the forecast period.
By application, the report on the redispersible polymer powder market can include plastering, mortars, insulation systems, tiling & flooring, and others. In tiling & flooring, the market is expected to gain substantial growth opportunities.
By end user, the report on the redispersible polymer powder market can be segmented into nonresidential construction, residential construction, and industrial construction. The residential construction segment would boost the growth of the market.
Global Redispersible Polymer Powder Market - Regional Analysis
The global market for redispersible polymer powder would be guided ahead by Asia Pacific as per the predictions made by MRFR. This would be governed mainly by China. However, the recent outbreak of Coronavirus COVID 19 would hold back growth in the region as several provinces in the country have been locked down by authorities. In 2016, China had a production of 80.88 kilotons. This happened due to the growth in residential and commercial sector construction. Japan would register the fastest growth rate. It is predicted to exhibit a 6% CAGR during the forecast period.
Europe had a valuation of USD 381 million and would record growth by 5.99% during the forecast period. This growth would be backed by increasing demand for green buildings and tile adhesives. Poland could surpass other countries in terms of growth rate. The construction industry would trigger growth in the European market.
In North America, top-class industrial infrastructure in the US and Canada would generate demand for redispersible polymer powder. In certain sections, the real estate market is going down owing to which growth would be difficult.
In January 2020, Celanese announced that they have agreed to take over Nouryon’s redispersible polymer powder business that was doing the rounds in the market under the brand name of Elotex. This would help the former to increase their reach in regions like Europe and Asia. The expected time for the completion of this transaction is the second quarter of 2020.
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