Rising demand for durable and high-performance biopolymers has been critical for bio-based emulsion polymers market growth. Development of bio-based polymers such as vinyl acetate, styrene-butadiene (SB) latex, and acrylonitrile has also fueled the requirement of emulsion polymerization of these polymers. Volatile petrochemical feedstock prices and abundantly available biomass has fueled market growth over the last few years. Bio-based emulsion polymers have similar chemical properties and structure as compared to petroleum-based polymers. Presently, these bio-based polymers are at a nascent stage and are expected to have higher application share in paints & coatings and adhesives. Increasing government regulations and environmental concerns towards reducing dependence on synthetic chemicals and carbon footprint have been major factors responsible for market growth over the past few years. Commercially, bio-based emulsion polymers have renewable content ranging from 20-70% by volume. Development of 100% bio-based emulsion polymers is expected to have a positive impact on market expansion as these polymers would act as drop-in substitutes to their synthetic counterparts.
Increasing legislation by regulatory bodies such as EPA and REACH with regards to volatile organic compounds (VOC) emissions is expected to have a positive impact on bio-based emulsion polymers market over the next six years. This has led to an increase in demand for bio-based emulsion polymers in paints and coatings. Improving infrastructure coupled with the growing demand for eco-friendly & sustainable materials for construction is anticipated to drive market growth in emerging economies such as China, India, Japan, Brazil, and South Africa. Market growth may however be restricted due to the high price and complex manufacturing process of biopolymers as compared to synthetic chemicals. Companies have been investing heavily in R&D for developing 100% bio-based polymers. The development of niche applications such as paper & paper board coatings is expected to be key areas of opportunity for the market in the near future.
Europe & North America are expected to dominate bio-based emulsion polymers market demand owing to favorable governmental legislation and legal framework in support of bio-based polymers. Increasing demand for ‘BioPreferred’ labeled chemicals in the U.S. coupled with the launch of ‘BioChem’ project in the European Union is anticipated to have a positive impact on market growth in these regions. Asia Pacific bio-based emulsion polymers market is expected to witness above-average growth rates over the forecast period as a result of growing environmental awareness among consumers in the region. The majority of bio-based emulsion polymer manufacturing is in the pilot stage. Key companies operating in the market include DSM, BASF, Dow Chemical Company, and HallStar.