Polymer Emulsion Market - Global Forecast to 2027
The global polymer emulsion market is anticipated to be worth USD 25.2 billion in 2020 and USD 38.1 billion by 2027, with an annual growth rate of 8.6%. Burgeoning demand from emerging countries' growing end-use sectors, rigorous VOC emission restrictions, and rising awareness about green buildings are all driving market expansion.
The influence of COVID-19 on the worldwide polymer emulsion market
COVID-19 has strengthened travel restrictions in practically all nations around the world as a result of the epidemic. Since March 2020, the manufacturing industry has been halted due to an increasing number of infected people and a total lockdown in major industrial hubs. Workers have either returned to their hometowns or been isolated to stop the spread of the coronavirus. Construction, automotive, chemical, textile, and coatings firms have been compelled to close locations due to probable upstream supply chain concerns. Negative consumer mood and dropping earnings are discouraging individuals from looking for new homes, therefore demand for residential building construction is expected to be low. Due to apprehensions about the future, demand for automobiles has plummeted.
The global impact on textile orders for apparel and clothing accessories has decreased by 30% on average. Chemical businesses have either stopped producing or are operating at a low utilisation rate. With the removal of the lockdown, government bodies around the world are progressively encouraging construction, automotive, chemical, and textile & coatings firms to start activity, and corporations are attempting to recover the market, with sales likely to improve gradually in 2021.
Driver: Increasing demand from emerging countries' increasing end-use sectors.
Due to causes such as rapid urbanisation, changing lifestyles, and increased disposable income, demand for polymer emulsion is expanding in many end-use industries such as paper, construction, textile, transportation, consumer durables, and others. The use of polymer emulsion in end-use industries such as paints and coatings, adhesives and sealants, and others is quickly rising.
The global impact on textile orders for apparel and clothing accessories has decreased by 30% on average. Chemical businesses have either stopped producing or are operating at a low utilisation rate. With the removal of the lockdown, government bodies around the world are progressively encouraging construction, automotive, chemical, and textile & coatings firms to start activity, and corporations are attempting to recover the market, with sales likely to improve gradually in 2021.
Driver: Increasing demand from emerging countries' increasing end-use sectors.
Due to causes such as rapid urbanisation, changing lifestyles, and increased disposable income, demand for polymer emulsion is expanding in many end-use industries such as paper, construction, textile, transportation, consumer durables, and others. The use of polymer emulsion in end-use industries such as paints and coatings, adhesives and sealants, and others is quickly rising.
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