The opaque polymers market is projected to grow from USD 1.70 Billion in 2017 to 2.82 Billion by 2022, at a CAGR of 10.7% during the forecast period. Opaque polymers are synthesized for use in architectural paints. They are used in water and solvent-based emulsion paints to improve hiding performance and whiteness. Opaque polymers are also used in formulations of personal care products, such as shampoos, sunscreen lotions, body lotions, and bath products.
The increase in prices of TiO2 and rise in construction activities worldwide are key factors projected to drive the growth of the opaque polymers market. Key companies operating in this market have adopted various growth strategies, such as new product launches, expansions, and agreements & contracts, to strengthen their foothold in the market. The Dow Chemical Company (US), Arkema (France), Ashland (US), Interpolymer Corporation (US), and Organik Kimya (Turkey) are leading players in this market.
New product launches, expansions, and acquisitions were key growth strategies adopted by industry players between 2015 and 2017 to enhance their business prospects. Besides new product launches and expansions, companies have also adopted the strategy of joint ventures and acquisitions to expand their global reach and widen their distribution network. These strategies accounted for a significant share of all growth strategies adopted by key players in the opaque polymers market.
Most active players in the opaque polymers market
The Dow Chemical Company (US) develops and manufactures opaque polymers for paints & coatings application. The company manufactures and supplies opaque polymers through its infrastructure solutions business segment. It has adopted strategies such as expansions and mergers to increase its market share. For instance, in 2017, The Dow Chemical Company established a polymer manufacturing facility in Saudi Arabia to enhance its brand image and strengthen its market position.
Arkema (France) is one of the leading innovation-driven companies that develop innovative opaque polymer technology. The company has adopted the strategy of new product launches to strengthen its position in the opaque polymers market, especially in emerging countries. For instance, in 2016, the company launched CELOCOR AF opaque polymers for coatings application.
Other key manufacturers of opaque polymers include Interpolymer Corporation (US), Visen Industries (India), Hankuck Latices (South Korea), Junneng Chemicals (China), Ashland (US), Organik Kimya (Turkey), Indulor Chemie (Germany), and En-Tech Polymer (South Korea).
Opaque Polymers Market by Type (Solid Content 30% and Solid Content 40%), Application (Paints & Coatings, Personal Care, and Detergents), and Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) - Global Forecast to 2022
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