Synthetic Latex Polymer Market to Grow with a CAGR of 3.58% through 2028
Surge in research and development activities is
expected to drive the Global Synthetic Latex Polymer Market growth in the
forecast period, 2024-2028.
According to TechSci Research report, “Synthetic
Latex Polymer Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Synthetic Latex Polymer
Market stood at USD29.32 billion in 2022 and is anticipated to grow with a CAGR
of 3.58% in the forecast period, 2023-2028. The initiatives taken by government
based on synthetic latex polymer has led to favorable market conditions for the
Global Synthetic Latex Polymer Market. Several factors contribute to the growth
of various synthetic latex polymer products.
In response to the growing concerns about the impact
of non-biodegradable rubber on the environment, governments worldwide have been
actively promoting the development of biodegradable synthetic rubbers. These
rubbers are designed to break down naturally over time, reducing the
accumulation of waste and minimizing environmental harm. To achieve this,
various advanced polymerization techniques have been adopted, leading to the
production of synthetic rubber with diverse molecular weights, structures, and
configurations. This not only expands the range of applications for synthetic
latex polymers but also contributes to a significant reduction in their overall
environmental impact.
An outstanding example of a successful collaboration
between industry, academia, and government in solving the rubber supply crisis
is the U.S. Synthetic Rubber Program. This program played a crucial role in
shaping the synthetic rubber industry by addressing the urgent need for rubber
during World War II. The technology chosen for synthetic rubber production,
specifically based on Buna S, proved to be highly effective in meeting the
demands of the time. This collaborative effort not only ensured a stable supply
of rubber but also laid the foundation for future advancements and innovations
in the synthetic rubber industry.
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Latex Polymer Market”
Innovation, fueled by extensive research and
development (R&D) activities, plays a pivotal role in propelling the
synthetic latex polymer market forward. Companies are making substantial
investments in the development of cutting-edge synthetic latex polymers that
exhibit exceptional properties and functionalities. These groundbreaking
innovations are facilitating the production of high-quality products that cater
to a wide range of application needs, thereby stimulating the growth of the
market. With a relentless pursuit of advancements, the synthetic latex polymer
industry continues to push the boundaries of possibilities, driving innovation
and shaping the future of various sectors.
The Global Synthetic Latex Polymer Market is segmented
into type, application, regional distribution, and company
Based on its type, the styrene butadiene segment held
the largest share in the market. Styrene Butadiene Latex (SBL) polymers, widely
used in various industries, have found applications in diverse sectors such as
tyre cord, carpet backing, and coatings for paper and paperboard. The robust
growth of the automotive industry has significantly contributed to the
increasing demand for tyres, consequently driving the expansion of the styrene
butadiene segment. This trend is likely to continue as the automotive sector
continues to expand, creating opportunities for the SBL market to thrive.
Additionally, the versatility and performance properties of SBL polymers make
them a preferred choice in industries requiring high-quality and durable
materials. With their exceptional adhesive properties, SBL polymers play a
crucial role in enhancing the performance and longevity of products across
different end-use applications
Based on region, North America segment is expected to
grow during the forecast period.
The government's execution of strict laws surrounding
the usage of synthetic latex polymers in various applications is anticipated to
drive the market's expansion in this area. This can be attributed to the
growing awareness and concerns regarding the environmental impact of
traditional latex polymers. With the increasing need for environmentally
friendly and sustainable goods in a variety of end-use sectors, the demand for
synthetic latex polymers is expected to rise significantly.
Moreover, the market for synthetic latex polymers in
this region is being driven by the presence of numerous prominent market
players who are continuously investing in research and development to enhance
the performance and versatility of these polymers. This, in turn, is fueling
the demand for synthetic latex polymers in industries such as adhesives, paints
and coatings, and paper and paperboard applications.
Considering these factors, it is projected that the
United States will contribute significantly to the market revenue in this
region. The country's strong emphasis on innovation and technological
advancements, coupled with the rising demand for high-quality and sustainable
products, creates a favorable environment for the growth of the synthetic latex
polymer market.
In conclusion, the execution of strict laws, the
increasing demand for environmentally friendly goods, and the presence of key
market players are driving the expansion of the synthetic latex polymer market
in this region. The United States, with its growing focus on innovation and
sustainable solutions, is expected to play a crucial role in the market's
growth and revenue generation.
Major companies operating in Global Synthetic Latex
Polymer Market are:
- Apcotex Industries Limited
- Arkema SA
- BASF SE
- Dow Chemical Company
- Jubilant Industries Ltd
- Kumho Petrochemical Co Ltd
- LG Chem Ltd.
- Lion Elastomers LLC
- SIBUR International GmbH
- Zeon Europe GmbH
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“Growing application of synthetic latex polymer in
various end user industries are key drivers of the synthetic latex polymer
market. Growth in competitive landscape and presence of well-established companies
in the market who are dedicated to enhance their productivity of synthetic latex
polymer with every passing year are anticipated to register an impressive
growth to Global Synthetic Latex Polymer Market in the forecast period.,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Synthetic Latex Polymer Market By Type (Styrene
Acrylic, Styrene Butadiene, Acrylic, Vinyl Acetate Copolymer, Polyvinyl
Acetate, Vinyl Acetate Ethylene, Others), By Application (Paints & Coatings,
Adhesives & Sealants, Nonwovens, Carpets, Paper & Paperboard, Others), By Region, By Competition Forecast &
Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
Synthetic Latex Polymer Market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Synthetic
Latex Polymer Market.
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