The growing adoption of polymer binders to improve the durability of waterborne and solvent-borne coatings will lead to the expansion of the global polymer binder market at a CAGR of almost 8% during the forecast period, as per Reportlinker. Factors such as an increase in the demand for environment-friendly polymer binders with low formaldehyde content to produce water-borne architectural coating will play a significant role in the architectural coatings segment to maintain its market position. Demand will also be boosted by growth in the textile industry, growing demand from developing countries, increasing use of polymer binders in the coating formulation. However, the decline in growth of paper products, stringent regulations, and policies on the use of polymer bindings in the production of packaging materials may hamper the growth of the polymer binder industry over the forecast period.
Polymer binder holds two similar or different materials, including plastics, composites, and metals to form a single unit. This polymer binder market analysis considers sales from applications including architectural coatings, adhesives and sealants, textile and carpets, paper and board, and others. There is an increase in the demand for industrial coatings due to the rising residential and infrastructural development. This will drive the need for polymer binders in industrial coating formulation to impart superior adhesion and abrasion resistance. The shift in the preference for lithium polymer (LiPo) batteries from lithium-ion batteries will boost the demand for polymer binders. This is because polymer binders are used in anode coatings in LiPo batteries to impart chemical resistance, recharging, excellent adhesion, ionic conductivity, and water absorption properties. This shift in preference is expected to have a positive impact on the overall market growth.