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:
- BASF SE
- Lubrizol Corporation
- Clariant International Ltd.
- EASTMAN CHEMICAL
- EVONIK
- The Dow Chemical Company
- 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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