Global Opaque Polymer Market - 2020-2027
Opaque polymers are highly efficient, voided latex products that improve hiding and whiteness in paints and coatings and function as a partial replacement for titanium dioxide (TiO2). Moreover, the opaque polymer's hollow-sphere structure provides a controlled and uniform air void hiding in paint through the refractive index differential between the outer polymer shell and the internal air void. In addition, the encapsulated air voids provide hiding without the loss of resistance properties associated with other raw materials, which provide hiding through increased film porosity.
The global opaque polymer market is estimated to reach USD XX billion by 2027 from the recorded market size of worth USD XX billion in 2019, growing at a CAGR of XX% during the forecast period.
The global opaque polymer growth is driven by the emerging markets, and massive investment in R&D are the factors responsible for developing this market. Moreover, the rising demand for improved personal care products and pharmaceuticals is expected to drive the forecast period.
The increasing infrastructural design is expected to drive growth in the forecast period
Advanced infrastructural designs are growing in demand for gloss finish combined with whiteness, and superior optical properties, which are readily provided to opaque polymers as they are specifically engineered to deliver advanced hiding properties. The research will remain a significant factor propping the consumption of opaque polymers by paints and coatings manufacturers. Moreover, governments and privately owned bodies' rising investment in construction and infrastructural development are vital factors for encouraging the opaque polymer market's revenue growth. According to industry analysis, the construction industry grew to a spending value of close to USD 12 trillion before the coronavirus pandemic and is expected to grow at a CAGR of 2.8%. This includes building projects in real estate - either residential or commercial - and in infrastructure or industrial structures. In addition, opaque polymers' functional advantages such as reflection, efficient insulation, superior conduction, high light absorption, and skid resistance position opaque polymers much beyond the aesthetic products contained by paints and coatings.
The increasing demand for personal care product is expected to drive growth in the forecast period
The increasing demand for cosmetics is expected to increase market growth due to rising interest in enhancing the body's appearance or fragrance. According to industry analysis, personal care is expected to reach USD 239,500 million from the recorded value of USD 191,640 million with a CAGR of 5.70% during the forecast period.
The rising cost of opaque polymer is expected to hinder the market growth during the forecast period
The emergence of superior, cost-effective, and naturally sourced substitutes for opaque polymers such as flash calcined kaolin has recently been stirring stiff competition among both in the opaque polymer market. While both of the materials above are cited as excellent scattering sources accounting for high dry film opacity, it would be exciting to observe both the materials' market performance based on their level of influence on the overall optical properties of paints & coatings. Moreover, several micros and macro-economic factors such as GDP, inflation, employment rate, and currency exchange rate are accountable for fluctuating raw material prices. Simultaneously, the micro and macro-economic factors are mainly driven by geo-political issues between countries, trade war, unconditional climate, and viral infections.
By technology, the market is segmented into water-in-oil (W/O) emulsion, oil-in-water (O/W), water-in-oil-in-water (W/O/W) emulsion, oil-in-water-in-oil (O/W/O) emulsion and others. By size, the market is segmented into macro emulsion, microemulsion and nanoemulsion. By application, the market is segmented into anti-foaming agents, wetting agents, detergent & cleaner, personal care products, ore flotation, paints & pigment, metal processing and others. By end-user, the market is segmented into cosmetics, food, pharmaceuticals, mining, industrial, construction and others.
Macroemulsions are milky white-opaque emulsions with droplet diameters higher than 400 nm. They can be observed by optical microscopy if the refractive indices of liquids are different. The phase has a higher refractive index appears brighter under a microscope. Moreover, the microemulsion is the class in which the emulsions have droplet sizes smaller than 100 nm. With this size, microemulsions are transparent dispersions. In addition, the third emulsions class is miniemulsion (nanoemulsion) which has a droplet size between macroemulsion and microemulsion (100-400 nm). These emulsions have the appearance of a white-blue color.
Furthermore, macroemulsions and mini emulsions are thermodynamically unstable but can be kinetically stable, which means that their stability depends on time under specific pressure and temperature condition. Unlike macroemulsions and mini emulsions, 15 microemulsions are thermodynamically stable, and this stability is independent of time. On the other hand, the total surface area of dispersed droplets is much higher in microemulsions; hence, the required surfactant molecules are much higher.
APAC dominates the opaque polymer market growth due to rapid industrialization and growth in infrastructure. A developing country like China and India holds the largest market share in this region. Moreover, the rising demand for personal care products is expected to boost the opaque polymer market's growth during the forecast period in this region. According to industry analysis, personal care is expected to reach USD 121,160 million from the recorded value of USD 100,280 million at a CAGR of 4.83%. In addition, the user penetration is expected to hit 30% from the recorded value of 19.4%.
North America and Europe are expected to contribute the significant growth during the forecast period due to increasing demand for paint & coating, and construction. The U.S. holds the largest market shares in North America due to the increasing demand for the paint & coating industry. Sherwin William, a U.S.-based company, was the leading paints & coatings company worldwide in 2020, with a revenue of USD 18 billion. In addition, due to regional players, it is expected North America will be the fastest-growing market for opaque polymer during the forecast period.
The opaque polymer market is fragmented with the presence of regional and global players. The competitive contour lies with the increase in the regional company and growing investment in upstream application. Dow Chemical, Essar Group, Arkema, Ashland, Organik Kimya, Hankuck Latices, Croda International, Paras Enterprises, Visen Industries, Junneng Chemicals are the major player in the adhesive market. The major players adopt several growth strategies such as product launches, acquisitions, and collaborations, contributing to growing the opaque polymer market globally.
Opaque polymer is a non-film forming oil-in-water emulsion polymer which aids in decreasing the raw material costs of trade sales coatings by increasing the hiding provided by the prime pigment. Moreover, the polymer consists of hollow styrene/acrylic beads supplied in emulsion form. Initially, these beads are filled with water. When a paint containing ROPAQUE OP-62 dries, the water permanently diffuses from the particle's core and replaces by air. These encapsulated air voids supplement titanium dioxide's hiding effect, which permits the manufacturer to reduce titanium dioxide (TiO2) without reducing hiding power and tint strength.
In addition, the polymer beads in ROPAQUE OP-62 are uniform in size and more spherical as compared to pigments commonly used to provide hiding in the paint. Consequently, employing ROPAQUE OP-62 has decreased the total surface area of the hiding components in the paint and reducing the amount of vehicle required to bind those particles.
The company offers significant features such as low binder demand due to spherical shape with a low surface area and increases titanium dioxide (TiO2) efficiency through spacing & offers a high light scattering. In addition, the company offers benefits such as improved dirt resistance in exterior coatings, offers excellent scrub resistance & interior washability, offers cost savings to the formulator while offering equal hiding and improved block resistance for interior coatings.