synthetic latex polymers Market Overview:
The synthetic latex polymers market is expected to reach $ 42.48 billion by 2025 and grow at a CAGR growth rate of 7.9% during the forecast period 2020 to 2025. Synthetic Latex Polymers They are widely used in the production of textiles and coatings to achieve chemical bonding of the fibrous structure. They are mainly used to overcome the limitations of nonwovens in properties such as structure, stiffness, strength and ease of dry cleaning. These polymers are picked on the basis of cost and performance characteristics such as strength, durability and compatibility with additives. Some of the more commonly used polymers include styrene-butadiene (SBR) copolymers, acrylonitrile-butadiene copolymers, polychloroprene, acrylic polymers, vinyl acetate polymers, vinyl acetate-ethylene polymers, polymers and copolymers of vinyl chloride, polybutadiene, polyisoprene, etc. Global Synthetic Latex Polymer market is estimated and forecast in terms of revenue (USD Million) generated by the global market.
synthetic latex polymers Market drivers and restraints:
The growing call for synthetic latex polymers for paints and coatings is driving the growth of the market. Latex-based paints and coatings have several advantages over oil-based paints and coatings, including convenience in use, fast drying, low or near zero VOC, and easy to clean and recoat. These advantages of synthetic latex polymers are predicted to stimulate their adoption for paint and coating applications. In addition, the growing construction and automotive sectors are supporting the growth of the market. The construction and automotive industries widely use synthetic latex polymers for a variety of applications, including paints, coatings, adhesives, sealants, carpets and nonwovens. Hence, growing construction and automotive industries are increasing the growth of Synthetic Latex Polymers Market as they are the major end-use industries. However, as synthetic latex polymers are produced by combining monomers derived from refined sources of hydrocarbons like crude oil and natural gas, fluctuations in crude oil prices are expected to hamper the growth of the synthetic latex polymers market. However, the increasing demand for electrical and electronic products from developing regions is expected to drive the market growth in the future. Most electrical and electronic products use synthetic latex for applications including adhesives and sealants. Hence, the increasing production and sale of electrical and electronic products in developing economies is expected to increase the market growth in the future.
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Report segmented as:
Breakup by Type:
- Styrene Acrylic
- Styrene Butadiene
- Acrylic
- Vinyl Acetate Copolymer
- Polyvinyl Acetate
- Vinyl Acetate Ethylene
- Others
Breakup by Application:
- Paints and Coatings
- Adhesives and Sealants
- Nonwovens
- Carpets
- Paper and Paperboard
- Others
Breakup by End-Use Industry:
- Construction Sector
- Automotive Industry
- Electronics Sector
- Textile Industry
- Healthcare Sector
- Others
Geographical analysis:
By geography, the global synthetic latex polymers market is studied in countries of key regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Although the North American and European markets remain the largest consumers of synthetic latex polymers, strong changes are being observed in markets as diverse as China, India and the Middle East. In 2019, Asia-Pacific dominated the global synthetic latex polymers market and is also expected to experience its fastest rate growth during the forecast period. The growing demand for synthetic latex polymers in paints and coatings and adhesives and sealants is driving growth in this region. In addition, the demand for synthetic latex polymers is increasing in Europe, due to strong growth in infrastructure and increasing applications in the construction and textile industries. In addition, this region offers a high growth potential due to the import substitution programs implemented by the Russian government, as well as the strategic development of chemical industry plans in most of the CIS countries.
Important market players:
Some of the key market players of the global synthetic latex polymers market include Wacker Chemie, Synthomer, BASF SE, Celanese Corp., DowDuPont, Arkema Group, ARLANXEO, Asahi Kasei, OMNOVA Solutions, Trinseo, Apcotex, Bangkok Synthetics, Goodyear Chemical, Jubilant Agri & Consumer Products, Kumho Petrochemical, LG Chem, Lion Elastomers, Lubrizol, Shanghai Baolijia, Shanxi Sanwei, Sibur, Sumitomo Chemical, the Synthetic Latex Company, Versalis and Zeon. Strategies such as product innovation and collaborations are adopted by global players as well as regional players, to maintain the product superiority, thus interpreting market sustainability.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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