Selbyville, Delaware , May 23, 2024 (GLOBE NEWSWIRE) -- Opaque Polymers Market is expected to record more than USD 8 billion by the end of 2032, as per a recent study by Global Market Insights Inc.
The increasing demand from end-use industries, such as paints and coatings, adhesives, and construction, due to high urbanization and infrastructure development is driving the industry growth. The rising preference for high-performance and environmentally friendly materials is fueling the adoption of opaque polymers as they enhance product durability and sustainability.
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According to the India Brand Equity Foundation (IBEF), the global cosmetic industry is projected to reach USD 450 billion by 2025. This surging demand for personal care and cosmetic products will positively influence the market growth trajectory.
Significant advancements in polymer synthesis and processing techniques are facilitating the development of innovative opaque polymer products with improved properties. The growing focus on cost-effective solutions and stringent regulations regarding VOC emissions are further accelerating the product deployment.
Solid content (30%) segment to account for sizeable share
The solid content (30%) segment of the opaque polymers market is estimated to record substantial gains between 2024 and 2032, due to the increasing demand for coatings and paints with higher opacity and durability. These polymers offer improved hiding power and film formation for enhancing the performance of coatings in various applications. The rising focus on reducing volatile organic compound (VOC) emissions is further encouraging the adoption of high-solid-content opaque polymers for meeting regulatory standards while maintaining product performance.
High demand in personal care
Opaque polymers market size from the personal care application segment will expand at notable rate from 2024 to 2032, owing to the rising demand for cosmetic products offering enhanced texture, opacity, and stability. Opaque polymers serve as key ingredients in formulations for products like creams, lotions, and sunscreens for providing desirable sensory attributes and improved product performance. The increasing consumer preference for products with advanced aesthetic appeal and long-lasting effects will drive the product adoption in the personal care sector.
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Asia Pacific to remain key revenue hotspot
Asia Pacific opaque polymers market size is estimated to witness significant growth by 2032, led by the influx of favorable government policies, rising disposable incomes, and technological innovations. The rapid industrialization and urbanization across the region are driving the demand for coatings, adhesives, and construction materials. These polymers are extensively used in these sectors. The increasing investments in infrastructure development and the growing consumer base for personal care and cosmetic products are also accelerating the regional industry growth.
Opaque polymers Market Participants
Some of the leading firms operating in the opaque polymers industry include Arkema, Ashland, Dow Chemical Company, Organik Kimya, Zschimmer & Schwarz, Croda International Plc, Essar International Pvt Ltd, BASF, Palmer Holland, Entec Polymers, Ngoc Son, Solvay SA, ExxonMobil Corporation, Aurora Plastics, and Junneng Chem. These market players are leveraging several inorganic strategies, such as mergers & acquisitions, collaborations, and introducing novel solutions to diversify their product offerings. For instance, In April 2024, Eppendorf, a life science company, introduced twin.tec® Trace Plates by utilizing biobased polymers to enhance lab sustainability and meeting the rising demands for eco-friendly options without compromising performance.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
