An organic binder is an ingredient of biological origin and used to bind two or more materials to form a cohesive mixture. According to Market Research Future (MRFR), the global organic binders market is expected to garner a valuation of USD 191.3 MN by the end of 2023. In its recently published analysis, MRFR also asserts that the market would register a CAGR of over 4.43% over the assessment period (2016-2023).
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The growing application expanse of organic binders in the food, pharmaceuticals and cosmetics industry is driving a large market. The growing demand for gluten-free baking, personal care products, incense, organic pigments, and others is driving a large growth for the organic binders market. Organic binders are also finding large applications in the cosmetic industry in the form of mascara, eyeliners, and others. The pharmaceutical and wellness sector is employing organic binders in products such as laxatives and toothpaste formulation. The expanding use of cosmetics, owing to the expansion of social networks, urbanization, increase in the number of senior people, growing upper-middle-class and rising income of women is driving a large demand for organic binders from the cosmetic industry. Additional factors that are fostering the market demand include the dramatically rising end-use industries such as pharmaceuticals, nutraceutical, and wellness sectors.
However, the market is constrained by the competition from inorganic binders and the standardization issues. The market is also being challenged by the growing menace of adulteration and substandard products.
Global Organic Binders Market – Segments
The report is segmented into four dynamics to widen the scope of understanding,
By Form: Powder, Granulates, Dispersions, And Solid Resin, among others.
By Product: Acrylic, Latex, Polyvinyl Chloride (PVC), Poly Vinyl Acetate (PVA), And Others.
By Application: Paints & Coatings, Construction, Electronics, Automotive, And Others.
By Regions: Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Global Organic Binders Market – Regional Analysis
North America dominates the global organic binders market with the largest market share owing to large pharmaceutical and cosmetics sectors. The cosmetic industry of the U.S. is the largest in the globe with an estimated revenue of almost $60 billion. The large expenditure on the wellness sector is another driver of the U.S. organic binders market.
The Europe Organic Binders Market is also growing rapidly led by countries such as France, Germany and the U.K. The proliferating healthcare and cosmetic industry in the region are driving the market growth.
The Asia Pacific Organic Binders Market is projected to emerge as a promising market owing to a growing demand for consumer goods such as food and nutraceuticals. Growing population and per capita income are other drivers of the Asia Pacific organic binders market. The burgeoning pharma sectors further driving a substantial demand for organic binders.
Global Organic Binders Market – Competitive Landscape
The Organic Binders Market is highly fragmented and competitive due to the presence of several big and small players. The supply chain is highly inefficient, which increases the cost of the final product. The market is also facing the challenge of poor standardization and quality issues.
Manufacturers rely on collaboration and supply chain agreements with large players so as to secure market share. The market is also facing acute pricing pressure owing to the low cost and labor-intensive nature of the collection process.
Manufacturers of organic binders use a variety of distributions and appropriate modifications to develop product differentiation and application of the specific product.
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· BASF SE
· ENDURA IPNR
· Oilex International GmbH
· KYOEISHA CHEMICAL Co.LTD
· Wacker Chemie AG
· Stover Seed company
· Empower Materials
Industry/ Innovation/ Related News:
August 29, 2019 —- DIC Corporation, entered into a definitive agreement with BASF’s to acquire its global pigments business (BASF Colors & Effects). The acquisition is expected to enhance DIC’s portfolio of organic binders and pigments, used for cosmetics, coatings, and specialty applications.
The acquisition benefits from the complementary synergies of resources and expertise. DIC has set an ambitious revenue target of almost €8 billion by 2025 and the acquisition of BASF’s pigments portfolio is expected to be one of the strategies to achieve its goal. The acquisition provides DIC to expand its geographical reach as a leading pigment supplier.
The acquisition is intended to combine the complementary know-how of each company to develop innovative solutions. The acquisition will also bring together over 30 pigment and binder production facilities worldwide resulting in the enlarged product portfolio of organic pigments, specialty dyes, and binder manufacturing preparations.