A recent report published by
Infinium Global Research on synthetic latex polymers market provides in-depth
analysis of segments and sub-segments in the global as well as regional
synthetic latex polymers market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional synthetic latex
polymers market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecasts, and dollar values of the global
synthetic latex polymers market. According to the report, the global synthetic
latex polymers market is projected to grow at a CAGR of 4.1% over the forecast
period of 2020-2026.
The commercial production of
synthetic latex polymer started during World War II. With U.S. government
sponsorship, several companies involved in rubber research and production
initiated the production of Government Rubber-Styrene (GR-S) at a commercial level
with the help of research from the government, academics, and independent
laboratories. Research and development of latex continued after the end of the
war and as a result, the modern synthetic rubber industry was created. Many
types of synthetic latex, such as Styrene-Butadiene Rubber (SBR), Polybutadiene
Rubber (BR), Polyisoprene Rubber (IR), and others, are been manufactured now,
all with distinct characteristics. SBR and BR are the most commonly used type
of latex, as they are important in the production of tires. In general,
synthetic latex is produced by combining monomers derived from refined sources
of hydrocarbons such as coal, crude petroleum, and natural gas. Furthermore,
synthetic latex polymers have found their application in several industries
including paint, coating, adhesives, sealants, paper, construction, glove
dipping, carpets, nonwovens, textiles, and others. The development of
innovative materials and production processes has further driven the synthetic
latex polymer market.
The spread of COVID-19 has
severely affected the synthetic latex polymer market across the globe. COVID-19
pandemic affected the global synthetic latex polymer market by hindering
production and demand, disrupting the supply chain, and by its impact on firms
and the financial markets. The demand for synthetic latex polymer has decreased
from the end-users. The COVID19 pandemic has severely affected the sale of
end-user industries. Several end-users have stopped their production or closed
their production unit. The shortage of raw materials is another major challenge
faced by the industry during the pandemic. Furthermore, the lower production of
latex polymers in countries including China, Taiwan, India, and Japan has
created a shortage in the global market. Other countries dependent on the
import are facing a severe shortage of synthetic latex polymers during the
pandemic. The lower production and shortage of synthetic latex polymers in the
market are estimated to hamper the market growth in the short term.
The increasing demand for
synthetic latex polymers for paints and coatings is driving market growth.
Latex based paints and coatings have several advantages over oil-based paints
and coatings including convenient usage, quick-drying, low or near zero VOCs,
and easy to clean-up and re-coat. These advantages of synthetic latex polymers
are anticipated to boost its adoption for paints and coatings applications.
Moreover, the growing construction and automotive sectors are supporting the
growth of the market. Construction and automotive industries widely use
synthetic latex polymers for various applications including paints, coatings,
adhesives, sealants, carpets, and nonwoven textiles. Thus, the growing
construction and automotive industries augment the growth of the synthetic
latex polymers market as they are the leading end-use industries. However, as
synthetic latex polymers are produced by combining monomers derived from
refined sources of hydrocarbons such as crude petroleum, and natural gas, the
fluctuating prices of crude oil are expected to hamper the market growth for
synthetic latex polymers. Nevertheless, the growing demand for electrical and
electronic goods from the developing regions is anticipated to boost the market
growth in the future. The majority of the electrical and electronic products
use synthetic latex for applications including adhesives and sealants. Thus,
the growing production and sale of electrical and electronic goods in
developing economies are anticipated to augment the market growth in the
future.
In terms of region, the global
synthetic latex polymer market is dominated by the Asia Pacific region. A large
population of consumers along with improving economic conditions is augmenting
the market growth in the region. Moreover, the higher sale of automobiles and
electronic goods in the region augments the demand for synthetic latex polymers
in the Asia Pacific. Furthermore, the growing urban population in the region is
further supporting the market growth for synthetic latex polymers in the Asia
Pacific. On the other hand, the North American region accounted for the
second-largest revenue in the global synthetic latex polymer market. The
growing construction industry in North America is anticipated to boost the
demand for synthetic latex polymers for paint, coating, construction, carpets,
and nonwovens applications. Additionally, the increasing production and export
of electrical and electronics goods in North America are further augmenting the
growth of the market.
The report on the global synthetic
latex polymers market covers segments such as product and application. On the
basis of product, the sub-markets include acrylics, PU (polyurethane), vinyl
acetate copolymers, SB latex, polyvinyl alcohol, and others. On the basis of
application, the sub-markets include paint and coating, adhesives and sealants,
paper, construction, glove dipping, carpets and nonwovens, textiles, and
others.
The report provides profiles of
the companies in the market such as Arkema Group, Apcotex Industries Ltd,
Bangkok Synthetics Co., Ltd., Celanese Corporation, Synthomer PLC, OMNOVA
Solutions Inc., Lion Elastomers, LLC, Shanghai Baolijia Chemical Co., Ltd., Shanxi
Sanwei Group Co, Ltd., and Sumitomo Chemical Co., Ltd.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the market
using analytical tools such as Porter's five forces analysis and DRO analysis
of the synthetic latex polymers market. Moreover, the study highlights current
market trends and provides forecasts from 2020-2026. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.
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