Market Trends of Opaque Polymer Industry
This section covers the major market trends shaping the Opaque Polymer Market according to our research experts:
Growing Demand from Paints & Coatings Segment
- Opaque polymers are highly efficient, voided latex products that improve hiding and whiteness in paints & coatings. Its sufficient resistant to solvents used in paint formulations helps to retain particle integrity.
- Moreover, its usage allows for a significant reduction in titanium dioxide usage while maintaining opacity, which further helps to reduce the cost of paint formulation in most scenarios.
- Growing paints and coatings production is thus expected to drive the market for opaque polymers through the years to come. Various coating manufacturers across the world are increasing their production capacities or product lines to meet the increasing demand for coatings from the construction, transportation, and consumer goods industries.
- Companies such as BASF and Nippon Paint in 2019 decided to expand their production capacities of automotive paints & coatings in China and United States respectively. Other companies such as Akzo Nobel too is expanding its wood coatings production to serve the demand from the growing furniture industry.
- Additionally, other major paints & coatings manufacturers such as PPG, The Sherwin-Williams Company, and RPM International Inc. too are expanding their product lines or increasing their capacities to cater to the increasing demand in the market.
- Such aforementioned factors are expected to drive the production of paints & coatings, and hence the demand for opaque polymers through the years to come.
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North America Region to Register Significant Growth in the Market
- North America region is expected to register significant growth in the global market owing to the increasing demand for opaque polymer in countries such as United States and Canada.
- United States boost some of the major manufacturers of paints & coating producers worldwide.
- In 2018, the country shipped more than USD 11.7 billion of architectural coatings, which further increased through 2019. The country further sold USD 7.7 billion of industrial coatings to customer industries. Increasing demand from the construction and transportation sector is rising the paints & coatings demand, which in turn is rising the demand for opaque polymers in the country.
- The paint and coatings industry in Canada include 230 manufacturers and nearly 3000 retail stores. According to the Canadian Paint & Coatings Association, the industry's economic output was around USD 12 billion at present. Even the printing inks production is rising in the country and companies such as INX International Ink Co. are launching newer product lines of printing inks in the country.
- Such growth in these countries are expected to drive the opaque polymer market in North America through the years to come.
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