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The global synthetic latex polymers market reached a value of US$ 31 Billion in 2020. Synthetic latex is a laboratory-made aqueous dispersion of petroleum polymers. It is an artificially synthesized compound with high-strength, flexibility and water-resistance properties. These polymers are derived from styrene and butadiene using chemical catalysts obtained by the process of emulsion polymerization. Synthetic latex polymers are added to other compounds for the alteration of molecular weight and mechanical properties. Currently, they are available in the form of styrene acrylic, vinyl acetate-ethylene and vinyl acetate copolymer and are utilized in the production of paints, coatings, textiles, medical equipment, belts and seals, etc.
The growing construction industry is one of the key factors driving the market growth. Along with the increasing number of commercial and residential construction activities, the growing product demand for coatings and paints is also contributing to the market growth. Synthetic latex is used as a bonding and waterproofing agent with cement as it offers immense water impermeability, adhesion to substrates and excellent chemical resistance. It is also suitable for both interior and exterior applications, which is contributing to its widespread adoption across the construction industry. Additionally, synthetic latex is extensively used to produce water-based coating emulsions that are used as a coating to prevent corrosion of metallic substrates. It improves durability and resistance against scratches and scuffs of the metallic surface. Moreover, there is a growing requirement from the healthcare industry to manufacture latex-based surgical gloves, catheters, electrode pads, stethoscopes, elastic bandages and wraps. Other factors, including the introduction of bio-adhesives that are compatible with latex and comply with environmental standards, along with increasing research and development (R&D) activities, are projected to drive the market further. Looking forward, IMARC Group expects the global synthetic latex polymers market to grow at a CAGR of 4.4% during 2021-2026.
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The competitive landscape of the industry has also been examined with some of the key players being Alberdingk Boley, Apcotex Industries Ltd., Arkema S.A., Arlanxeo, Asahi Kasei, BASF, 3M, Celanese, Dow Chemical Company, LG Chem, Lubrizol (Berkshire Hathaway), Omnova Solutions Inc. (Synthomer Plc), Trinseo, Wacker Chemie AG, etc.
The global synthetic latex polymers market was valued at US$ 31 Billion in 2020.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporarily closure of numerous manufacturing units of synthetic latex polymers.
We expect the global synthetic latex polymers market to exhibit a CAGR of 4.4% during 2021-2026.
The increasing number of commercial and residential construction activities along with growing product utilization for manufacturing coatings and paints represent some of the factors driving the global synthetic latex polymers market.
Based on the type, the global synthetic latex polymers market has been segregated into styrene acrylic, styrene butadiene, acrylic, vinyl acetate copolymer, polyvinyl acetate, vinyl acetate ethylene, and others. Among these, styrene acrylic exhibits a clear dominance in the market.
Based on the application, the global synthetic latex polymers market can be divided into paints and coatings, adhesives and sealants, nonwovens, carpets, paper and paperboard, and others. Currently, paints and coatings represent the largest segment.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global synthetic latex polymers market include Alberdingk Boley, Apcotex Industries Ltd., Arkema S.A., Arlanxeo, Asahi Kasei, BASF, 3M, Celanese, Dow Chemical Company, LG Chem, Lubrizol (Berkshire Hathaway), Omnova Solutions Inc. (Synthomer Plc), Trinseo, Wacker Chemie AG, etc.
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