International. The polymer binder market is projected to grow from US$24.1 billion in 2018 to US$35.0 billion by 2023, at a CAGR of 7.8% during the forecast period.
The growth of the polymer binders market can be attributed to the increasing per capita paint consumption in APAC and the global growth in the construction industry. In addition, increased demand for technical textiles is expected to drive demand for polymer binders globally.
Polymer binders are mainly used as mortar additives for mortar performance modifications. It is also used in paint and coating formulations. Growth in the construction industry drives the demand for architectural coatings and mortars which will have a positive impact on the growth of the polymer binders market.
Global construction production will grow by 85% to reach USD 15.5 trillion by 2030. China, the United States and India, three major countries, are expected to contribute more than 50% to the overall growth of the construction industry due to economic growth in China. these economies
According to the Asian Development Bank (ADB), based on APAC's current growth rate, the region requires an investment of USD 1.7 trillion through 2030 for its infrastructure. This scenario is favorable for the growth of the polymer binder market.
