Global Synthetic Latex Polymers Market, By Form (Liquid, Powder and Granules), Product Type (Styrene Acrylic, Styrene Butadiene, Acrylic, Vinyl Acetate Copolymer, Polyvinyl Acetate, Vinyl Acetate Ethylene and Others), Application (Processed Paper, Adhesives and Sealants, Paints and Coatings, Packaging, Rubber Gloves, Automotive Parts, Non-woven Fabrics and Others), End-use Industry (Building and Construction, Automotive, Electrical and Electronics, Textile, Paper and Paperboard, Healthcare, Cosmetics and Personal Care and Others) – Industry Trends and Forecast to 2030.
Synthetic Latex Polymers Market Analysis and Size
The synthetic latex polymers market is expected to grow significantly during the forecast period owing to the growing application of these polymers in numerous industries because of their unique properties. The “Styrene acrylic” is expected to be the fastest growing product type segment during the forecast period because styrene acrylic is used in building and construction activities to give roofing and concrete applications that are more salt stable, flexible, heat sealable, and water resistant. Therefore, the demand for styrene acrylic from construction and automotive industries will enhance the market growth during the forecast period.
Data Bridge Market Research analyses that the synthetic latex polymers market is expected to reach USD 63.02 billion by 2030, which is USD 32.09 billion in 2022, registering a CAGR of 8.80% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Synthetic Latex Polymers Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 - 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Form (Liquid, Powder and Granules), Product Type (Styrene Acrylic, Styrene Butadiene, Acrylic, Vinyl Acetate Copolymer, Polyvinyl Acetate, Vinyl Acetate Ethylene and Others), Application (Processed Paper, Adhesives and Sealants, Paints and Coatings, Packaging, Rubber Gloves, Automotive Parts, Non-woven Fabrics and Others), End-use Industry (Building and Construction, Automotive, Electrical and Electronics, Textile, Paper and Paperboard, Healthcare, Cosmetics and Personal Care and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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BASF SE (Germany), The Lubrizol Corporation (U.S.), Celanese Corporation (U.S.), Dow (U.S.), Arkema (France), ASAHI KASEI CORPORATION (Japan), Trinseo (U.S.), Wacker Chemie AG (Germany), Sumitomo chemical co. ltd (Japan), LG Chem (South Korea), The Goodyear Tire and Rubber Comapany (U.S.), Bangkok Synthetics Co., Ltd. (Thailand), OMNOVA Solutions Inc. (U.S.), Apcotex Industries Limited (India), Synthomer plc (U.K.)
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Market Opportunities
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Market Definition
Synthetic latex polymers are aqueous dispersion of petroleum polymers which are made in laboratory. These polymers provide flexibility, high-strength and water-resistance properties them suitable and perfect for an extensive range of industrial applications. Synthetic latex polymers are highly similar in properties to natural ones. These polymers are also cheaper in nature.
Synthetic Latex Polymers Market Dynamics
Drivers
- Growth and expansion in building and construction industry
Synthetic latex polymers are highly used in construction products such as adhesives & sealants, paints & coatings, and more to increase elastomer property, binding and preventing cracking. Factors such as robust federal government policies for the residential sector, strong demand for larger commercial spaces and many other factors are aiding the growth of the construction activities. For instance, as per the analysis of United States Census Bureau, the total number of new residential construction projects was 1,379.61 thousand units which started in the USA in 2021 and it was 1,610 thousand units, a surge of 16.7%. Therefore, the growth of construction activities boosts the demand for construction products such as adhesives & sealant, paints & coatings and more. This, in turn, driving the growth of the market.
- The increasing adoption of styrene butadiene in the paper and paperboard industry
The formulations of Styrene-butadiene latex are normally used as a coating in paper products such as flyers, magazines and catalogs to achieve a good printability, high gloss, and oil and water resistance. The factors such as the surging demand from the printing and stationery industry, growth of the paper packaging industry and other factors are bolstering the growth of the paper and paperboard industry. For instance, as per the analysis of Confederation of European Paper Industries (CEPI), the production of paper and paperboard was 21.39 million tons in the year 2019 in Germany, which was 25% of the total European production of paper and paperboard. Hence, the growth of the paper and paperboard market is boosting the demand for styrene-butadiene latex, which, in turn, expected to drive the market growth.
Opportunities
- Surging demand of synthetic latex polymers in paints & coatings industry
The paints and coatings sector covers a significant share in synthetic latex polymers market share during the forecast period, which will be expected to create numerous and new opportunities for the market growth. The significant properties of these polymers such as styrene acrylics, vinyl acetate ethylene and more include their high cohesive strength, strong self-tack, high gel content, high molecular weight and more. These qualities of synthetic latex polymers ensure that coatings are quick to dry and simple to apply, making them perfect for production. The absence of gas emissions during the drying process is specifically advantageous and can considerably affect the expense and duration of the painting process. This factor makes these polymers perfect for paints and coatings applications. Therefore, the growing adoption of synthetic latex polymers in coatings and paints is accelerating the growth of the market.
Restraints/ Challenges
- Volatility in raw material prices
Synthetic latex polymers are derived from crude oil-based butadiene and styrene using chemical catalysts from emulsion polymers. The ongoing Russia-Ukraine war has extremely impacted crude oil prices. The increase in the price of crude oil impacts the costs of raw materials. As a result, synthetic latex polymer manufacturers are growing their costs. For instance, Zeon Corp. in Tokyo announced expense increases for its synthetic rubber and latex products in June 2022. Thus, the volatility in raw material prices is limiting the growth of the market.
This synthetic latex polymers market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the synthetic latex polymers market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- In 2021, Hextar Global Bhd acquired TufBond Technologies Sdn Bhd. TufBond Technologies Sdn Bhd is a manufacturer of synthetic latex polymers. This acquisition allows Hextar to develop its synthetic latex polymers market.
Global Synthetic Latex Polymers Market Scope
The synthetic latex polymers market is segmented on the basis of form, product type, application and end-use industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Form
- Liquid
- Powder
- Granules
Product Type
- Styrene Acrylic
- Styrene Butadiene
- Acrylic
- Vinyl Acetate Copolymer
- Polyvinyl Acetate
- Vinyl Acetate Ethylene
- Others
Application
- Processed Paper
- Adhesives and Sealants
- Paints and Coatings
- Architectural
- Industrial and Special Purpose
- Packaging
- Rubber Gloves
- Automotive Parts
- Belt
- Brake Pads
- Others
- Non-woven Fabrics
- Others
End-Use Industry
- Building and Construction
- Residential
- Commercial
- Industrial
- Infrastructure
- Automotive
- Passenger Vehicles (PV)
- Light Commercial Vehicles (LCV)
- Heavy Commercial Vehicles (HCV)
- Electrical and Electronics
- Television
- Computers
- Smartphones
- Wires and Cables
- Others
- Textile
- Paper and Paperboard
- Healthcare
- Cosmetics and Personal Care
- Hair Care
- Skin Care
- Others
- Others
Synthetic Latex Polymers Market Regional Analysis/Insights
The synthetic latex polymers market is analyzed and market size insights and trends are provided by country, form, product type, application and end-use industry as referenced above.
The countries covered in the synthetic latex polymers market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific is expected to dominate the synthetic latex polymers in terms of revenue growth and market share due to the rapid expansion in the chemical and industrial processing industry in major nations, such as India and China along with surge in the R&D activities in this region. Moreover, surging encouraging government investment policies to promote industrial growth, abundant availability of raw materials, and high economic growth in the emerging countries will further boost the growth rate of the market.
North America is anticipated to be the fastest growing region in synthetic latex polymers market during the forecast period of 2023-2030 due to growth in the activities of commercial construction in this region. Also, major production of paints and coatings in the U.S. is expected to drive the market growth in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Synthetic latex polymers Market Share Analysis
The synthetic latex polymers market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to synthetic latex polymers market.
Some of the major players operating in the synthetic latex polymers market are:
- BASF SE (Germany)
- The Lubrizol Corporation (U.S.)
- Celanese Corporation (U.S.)
- Dow (U.S.)
- Arkema (France)
- ASAHI KASEI CORPORATION (Japan)
- Trinseo (U.S.)
- Wacker Chemie AG (Germany)
- Sumitomo chemical co. ltd (Japan)
- LG Chem (South Korea)
- The Goodyear Tire and Rubber Comapany (U.S.)
- Bangkok Synthetics Co., Ltd. (Thailand)
- OMNOVA Solutions Inc. (U.S.)
- Apcotex Industries Limited (India)
- Synthomer plc (U.K.)
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