The worldwide drive for the evolution of the opaque polymer market stemmed from their rising use in coatings industry. The polymers have been extensively used in improving hiding and whiteness in paints and coatings. For this application, opaque polymer are used in a wide variety of products such as interior or exterior coatings, including flat and semigloss. Its usage as a replacement of titanium oxide in architectural paints gathered steam, since it reduces raw material costs.
A few of the attractive properties that make opaque polymer increasingly lucrative are low odor and no added formaldehyde. Moreover, since opaque polymers can be used in low-VOC formulations, they are becoming increasingly significant in coating applications.
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Rising demand for decorative paints and coatings among consumers in developing regions across the world is also bolstering the market. An assortment of new product launches by prominent players in recent years has considerably expanded the prospects of the opaque polymer market. Efforts of chemical manufactures in the market to incorporate novel properties to new products have set the pace for innovation in the market.
Rising Demand for High-Performance Coating Application in Construction Industry to bolster Uptake
A thriving construction industry in various parts of the world, especially emerging economies, has offered a sweet spot to the demand for opaque polymer as a high-performance coating application. The drive for opaque polymers in the construction industry in various parts of the world is the growing need for improving the hiding properties in paints and coating formulations. The demand is further fueled by rising investment being made by governments on infrastructural projects.
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The market is expected to present new sources of revenues from growing attractiveness of natural alternatives. Making of opaque polymers with better functional properties as well as cost effectiveness has catalyzed the market’s growth. However, the advent of naturally sourced substitutes has adversely affected the market dynamics. Nevertheless, a few innovative product launches is expected to provide a robust impetus to the demand.