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Synthetic Latex Polymers Market (Product - Acrylics, PU (Polyurethane), Vinyl Acetate Copolymers, SB Latex, Polyvinyl Alcohol, and Others; Application - Paint and Coating, Adhesives and Sealants, Paper, Construction, Glove Dipping, Carpets and Nonwovens, Textiles, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : March, 2020

  • Rep Id : CM0226

  • Category : Chemicals & Materials

  • Status : Published

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.

 

Market Insight

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.

 

Segment Covered

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.

 

Companies Profiled:

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.

 

Report Highlights:

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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