Water Resistant Binder Market Growth Analysis, Share, Demand By Regions, Scope And Forecast 2031
Water Resistant Binder Market Introduction
·
Binding agent or binder holds
materials together to form a cohesive whole chemically or mechanically by
adhesion. It can be classified into organic and inorganic binders. Binders have
high compressive strength but low tensile strength and shear force as physical
properties. Binders hold together pigments and fill materials that form paints
and pastels. Binders are used in cooking and building & construction
applications.
·
Classes of binder includes acrylic,
styrene, styrene acrylic, butadiene, vinyl acrylic, acrylic-epoxy, acrylic
urethane hybrid, and aromatic & aliphatic urethanes
·
Acrylic binders keep pigments of
paints in their place after the paint dries. Styrene acrylic binder is a
modified acrylic polymer that has water resistance, flexibility, durability,
and abrasion resistance properties. It has a high pigment binding power and is
suitable for emulsion paints and resin-bound plasters with high weathering
stability.
·
Waterproofing plays an important role
in the building & construction industry. It protects the structure against
water. Water resistant binder composition includes calcium sulfate, Portland
cement, calcium aluminate cement, and construction chemical products.
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Competitive Landscape of Global Water Resistant Binder Market
·
Major players operating in the global
water resistant binder market are adopting various organic and inorganic growth
strategies such as joint ventures, mergers & acquisitions, expansion,
collaborations, new product launches, strategic alliances, and research and
development to increase their regional presence and business operations
·
The market is currently witnessing
fierce competition among several leading players. Key players operating in the
market include:
o
BASF SE
o
Lubrizol Corporation
o
Clariant International Ltd.
o
EASTMAN CHEMICAL
o
EVONIK
o
The Dow Chemical Company
o
ALBERDINGK BOLEY
Key Drivers of Water Resistant Binder Market
·
Increase in demand for building &
construction materials and infrastructure materials due to the growth of the
population is boosting the production of water resistant binders. Rise in
demand for acrylic binders in construction, textile, and infrastructure
industries is also driving the water resistant binder market.
·
Material coatings and paints play a
key role in the infrastructure industry. They provide durability and
sustainability to projects. Increase in demand for material coatings and paints
is augmenting the global water resistant binder market.
Restraints of Global Water Resistant Binder Market
·
Lack of universal directives
pertaining to applications of water resistant binders is expected to restrain
the market during the forecast period. Volatility in raw material prices,
regulations on water resistant binders, and availability of substitutes are
also anticipated to hamper the market in the near future.
COVID-19 Impact on Water Resistant Binder Market
·
The COVID-19 pandemic is hampering
the demand for water resistant binders in various applications. Governments of
several countries across the globe enforced lockdowns to curb the spread of the
coronavirus. These lockdowns resulted in the slowdown and halt in manufacturing
operations, restrictions on supply and transport, and infrastructure slowdown.
This adversely affected the demand for water resistant binders.
·
Key players operating in the water
resistant binder market are primarily tiered I and tier II manufacturers and
suppliers. Manufacture and supply chain facilities of these players are spread
across various countries in Asia Pacific, Europe, North America, Latin America,
and Middle East & Africa. Many players halted their production output due
to the COVID-19 pandemic. The pandemic has negatively impacted the demand and
supply chain of these materials.
·
The COVID-19 outbreak has directly
affected the production and demand for water resistant binders. The industrial
shutdown caused by the pandemic has created disruption in the supply chain of
these binders. Disruption in the supply of raw materials is projected to hamper
the full-scale operations of companies operating in the market.
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Asia Pacific to Constitute
Significant Share of Global Water Resistant Binder Market
·
In terms of region, the global water
resistant binder market can be split into North America, Europe, Asia Pacific,
Latin America, and Middle East & Africa
·
Asia Pacific dominated the global
market in 2020. Asia Pacific is a prominent region for binders due to the
significant expansion of the tire & tubes industry in the region. China and
India are notable consumers of water resistant binders in Asia Pacific. Rise in
usage of polymers, binders, and additives in the production of pharmaceuticals
is also boosting the water resistant binder market in Asia Pacific.
·
North America and Europe are also key
consumers of the water resistant binders. The market in North America and
Europe is estimated to expand at a moderate pace during the forecast period, as
a water resistant binders are used significantly in several applications.
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