According to the latest report by IMARC Group, titled "Synthetic Latex Polymers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global synthetic latex polymers market reached a value of US$ 31.8 Billion in 2022. Synthetic latex polymers refer to the aqueous dispersions of polymers that are obtained by emulsion polymerization. They are produced from petroleum compounds styrene and butadiene that create styrene-butadiene rubber (SBR). These artificially synthesized polymers are available in the market at significantly lower prices, largely depending on the monomer utilized in their production. They are characterized by excellent strength, flexibility and water-resistance. They also exhibit the ability to modify material properties for specific applications. Consequently, they are added to other compounds to alter their molecular weight and mechanical properties.
Global Synthetic Latex Polymers Market Trends:
The market is primarily driven by the significant growth in the construction sector across the globe. Synthetic latex polymers are extensively utilized as bonding and waterproofing agents with cement due to their exceptional chemical resistance, water impermeability, and adhesion to substrates. The growing application of premium paints in the residential and commercial sectors is acting as another major growth-inducing factor as these polymers are widely used in the formulation of paints and coatings. The market is further driven the shifting preference toward renovating living spaces and the rising utilization of paints and coatings in the automotive sector. Moreover, the growing demand for water-based coating emulsions to prevent the corrosion of metallic substrates is creating a positive outlook for the market. Some of the other factors contributing to the market growth include the increasing demand for catheters and latex-based surgical gloves in the healthcare industry and the advent of bio-adhesives that are compatible with latex. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 3.4% during 2023-2028.
- On the basis of the type, the market has been divided into styrene acrylic, styrene butadiene, acrylic, vinyl acetate copolymer, polyvinyl acetate, vinyl acetate ethylene and others.
- Based on the application, the market has been classified into paints and coatings, adhesives and sealants, nonwovens, carpets, paper and paperboard, and others.
- On the basis of the end-use industry, the market has been classified into the construction sector, automotive industry, electronics sector, textile industry, healthcare sector, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been examined in the report with the detailed profiles of the key players. Some of these players include ALBERDINGK BOLEY GmbH, Apcotex Industries Limited, Arkema group, ARLANXEO Group, Asahi Kasei Corporation, BASF SE, 3M Company, Celanese Corporation, Dow Chemical Company, LG Chem, Lubrizol (Berkshire Hathaway), Synthomer plc, Trinseo S.A., and Wacker Chemie AG.
|Base Year of the Analysis
||Type, Application, End-Use Industry, Region
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||ALBERDINGK BOLEY GmbH, Apcotex Industries Limited, Arkema group, ARLANXEO Group, Asahi Kasei Corporation, BASF SE, 3M Company, Celanese Corporation, Dow Chemical Company, LG Chem, Lubrizol (Berkshire Hathaway), Synthomer plc, Trinseo S.A. and Wacker Chemie AG
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