Opaque Polymers Market to Grow at 10.7% CAGR by 2022
December 14, 2017
The opaque polymers market is poised to grow at a 10.7 percent compound annual growth rate between 2017 and 2022, according to market research firm Markets and Markets. Market value is expected to reach $2.82 billion by 2022.
“This growth can be attributed to the rising demand for decorative and architectural paints in the construction industry,” said a report from Markets and Markets. “Asia Pacific and North America are key regions in the opaque polymers market.”
Paints and coatings accounted for the largest share of the market in 2016. Opaque polymers are used in various emulsion paint formulations. They enhance the opacity in paints and coatings.
Solid content 30% is the fastest-growing type of opaque polymer. They provide good gloss, improved hiding performance, and increased refractive index.
Looking to geographical demand, the Asia Pacific market is a key region.
“The increased demand for opaque polymers from emerging economies such as China and India is projected to drive the growth of the opaque polymers market in the Asia Pacific region,” said the Markets and Markets report. “The increasing applicability of opaque polymers in paints and coatings is projected to drive the growth of the opaque polymers market in this region.”