With the expanding use of Synthetic Latex Polymers in various industries due to their distinctive properties, the market for synthetic latex polymers is anticipated to expand significantly during the forecast period. Additionally, as styrene acrylic is used in building and construction activities to make roofing and concrete applications more salt-stable, flexible, heat sealable, and water-resistant, this product type segment is anticipated to experience the fastest growth throughout the forecast period. Styrene acrylic demand from the automotive and construction industries will fuel market growth during the forecast period.
According to Data Bridge Market Research, 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.
"Growing demand from end-use industries surge market demand"
The growing demand from various end-use industries drives the global synthetic latex polymers market. Industries such as paints and coatings, adhesives and sealants, textiles, paper and packaging, and construction heavily rely on synthetic latex polymers for their functional properties. These polymers offer advantages such as improved durability, flexibility, and adhesion, making them essential for producing high-quality products. The increasing demand from these sectors is a key driver propelling the global synthetic latex polymers market growth.
What restraints the growth of the synthetic latex polymers market?
"Volatile raw material prices can impede the market growth”
The global synthetic latex polymers market faces a restraint in the form of volatile raw material prices. Fluctuations in the prices of key raw materials like styrene, butadiene, and acrylic monomers can impact the overall production cost for manufacturers. The unpredictability of raw material prices poses challenges in maintaining profitability and pricing competitiveness. Manufacturers must closely monitor and manage raw material costs to mitigate the potential negative impact on their business operations.
Segmentation: Global Synthetic Latex Polymers Market
The synthetic Latex Polymers market is segmented on the basis of form, product type, application and end-use industry.
- On the basis of form, the synthetic latex polymers market is segmented into liquid, powder and granules
- On the basis of product type, the synthetic latex polymers market is segmented into styrene acrylic, styrene butadiene, acrylic, vinyl acetate copolymer, polyvinyl acetate, vinyl acetate ethylene and others.
- On the basis of application, the synthetic latex polymers market is segmented into processed paper, adhesives and sealants, paints and coatings, packaging, rubber gloves, automotive parts, non-woven fabrics and others
- On the basis of end-use industry, the synthetic latex polymers market is segmented into building and construction, automotive, electrical and electronics, textile, paper and paperboard, healthcare, cosmetics and personal care, and others.
Regional Insights: Asia-Pacific is expected to dominate the Global Synthetic Latex Polymers Market
Asia-Pacific is expected to dominate the synthetic latex polymers in terms of revenue growth and market share due to the sharp increase in R&D activities in this region, along with the quick growth of the chemical and industrial processing industries in major countries like China and India. The market's growth rate will also be boosted by the government's escalating supportive investment policies, abundant raw materials, and the high economic growth in emerging nations.
North America is poised to experience rapid synthetic latex polymers market growth from 2023 to 2030. This growth can be attributed to increased commercial construction activities in the region. Additionally, the significant production of paints and coatings in the United States is expected to drive market growth. The demand for synthetic latex polymers in these sectors, coupled with favorable market conditions, positions North America as a leading region for market expansion.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-synthetic-latex-polymers-market
Recent Developments in Global Synthetic Latex Polymers Market
- In 2021, TufBond Technologies Sdn Bhd was acquired by Hextar Global Bhd. The company that produces synthetic latex polymers is called TufBond Technologies Sdn Bhd. Hextar can expand its market for synthetic latex polymers thanks to this acquisition.
The Prominent Key Players Operating in the Global Synthetic Latex Polymers Market Include:
- 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.)
Above are the key players covered in the report, to know about more and exhaustive list of synthetic latex polymers market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Synthetic Latex Polymers Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
