PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1193426
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1193426
The Synthetic Latex Polymer Market size was valued at USD 26,508.9 Million in 2022, expanding at a CAGR of 5.6% from 2023 to 2030.
Synthetic latex is an aqueous dispersion of petroleum polymers created in a lab. It is a synthetic substance that has great strength, flexibility, and water resistance qualities. These polymers are produced via emulsion polymerization utilising chemical catalysts generated from butadiene and styrene.
Market Dynamics
To improve the elastomer property, bind, and avoid cracking, synthetic latex polymers are used in construction products like paints, coatings, adhesives, and sealants. Strong demand for larger commercial premises, supportive federal policies for the residential sector, and other factors are fostering an increase in construction activity. For instance, the United States Census Bureau reports that in 2020 there were 1,379.61 thousand new residential construction projects initiated in the USA, and in 2023 there were 1,610 thousand units, an increase of 16.7%. As a result, the demand for construction products including paints & coatings, adhesives & sealants, and more is fueled by the expansion of construction activities. This in turn is fueling market expansion.
Additionally, to achieve a high gloss, superior printability, and oil and water resistance, coatings made of styrene-butadiene latex are often employed on paper products like magazines, flyers, and catalogues. The expansion of the paper and paperboard industries is being accelerated by causes like the expansion of the paper packaging market, soaring stationery and printing demand, and other considerations. For instance, the Confederation of European Paper Industries (CEPI) reports that Germany produced 21.39 million tonnes of paper and paperboard in 2019, which was 25% of the continent's total production. As a result, the demand for styrene-butadiene latex is increasing due to the expansion of the paper and paperboard industry, which in turn is boosting the market growth.
Segmentation Analysis:
Based on type, the market for synthetic latex polymers globally was dominated by the styrene acrylics segment in 2023. Throughout the forecast period, it is anticipated to be a leading segment. Architectural paints are mostly produced using styrene acrylics. The rise of the global construction industry, a major consumer of paints, coatings, adhesives, and sealants, can be attributed to the segment growth of styrene acrylics. Besides, the market for vinyl acetate ethylene is anticipated to expand over the projected period. Vinyl acetate ethylene's expansion can be attributed to the industry's adoption of its improved performance and outstanding qualities.
Regional Analysis:
Regionally, the dominant region is Asia-Pacific, which accounted for up to 48.1% of the global market for synthetic latex polymers in 2023. The rise of numerous industries, including the automobile, building & construction, and more, is to account for the surge in the sectoral growth of the Asia-Pacific nations. The major causes essential for fueling the growth of the automotive sector in Asia-Pacific are the rapid industrialization phase, rising consumer income, and others. For instance, the Organisation Internationale des Constructeurs d'Automobiles (OICA) reports that in 2020, Asia-Pacific produced 4,668,333 light commercial cars, and in 2023, 5,099,264, an increase of 9%. As a result, the demand for automotive parts is being fueled by the boom in automobile production in the Asia-Pacific region.
Key features of the study:
This proposed research study on the Synthetic Latex Polymer market provides market size (US$ Million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains an attractive investment proposition matrix for the Synthetic Latex Polymer market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Synthetic Latex Polymer market
The impact of COVID-19 on the Synthetic Latex Polymer market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight into the Synthetic Latex Polymer market post-COVID will also be covered.
To give the users of this report a comprehensive view of the Synthetic Latex Polymer market, we have also included a competitive landscape and key innovator analysis for the Synthetic Latex Polymer market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand the financial information and strategic initiatives of players operating in the Synthetic Latex Polymer market.
In addition, the report also unveils the important acquisitions & mergers, collaborations & joint ventures, new launches, research & development, and regional expansion of major participants involved in the market on global as well as regional levels.
The global Synthetic Latex Polymer market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL SYNTHETIC LATEX POLYMER MARKET KEY PLAYERS
BASF SE
The Lubrizol Corporation
Celanese Corporation
Dow
Arkema
ASAHI KASEI CORPORATION
Trinseo
Wacker Chemie AG
Sumitomo chemical co. ltd
LG Chem
The Goodyear Tire and Rubber Company
Bangkok Synthetics Co., Ltd.
OMNOVA Solutions Inc.
Apcotex Industries Limited
GLOBAL SYNTHETIC LATEX POLYMER MARKET, BY TYPE
Styrene Acrylic
Styrene Butadiene
Acrylic
Vinyl Acetate Copolymer
Polyvinyl Acetate
Vinyl Acetate Ethylene
Others
GLOBAL SYNTHETIC LATEX POLYMER MARKET, BY APPLICATION
Paints and Coatings
Adhesives and Sealants
Nonwovens
Carpets
Paper and Paperboard
Others
GLOBAL SYNTHETIC LATEX POLYMER MARKET, BY END-USE INDUSTRY
Construction Sector
Automotive Industry
Electronics Sector
Textile Industry
Healthcare Sector
Others
GLOBAL SYNTHETIC LATEX POLYMER MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA