Synthetic latex polymers have found their application in several industries including paint, coating, adhesives, sealants, paper, construction, glove dipping, carpets, nonwovens, textiles, and others. There is a wide variety of synthetic latex manufactured, including Styrene-Butadiene Rubber (SBR), Polybutadiene Rubber (BR), Polyisoprene Rubber (IR), and others, all with distinct characteristics. SBR and BR are the most widely produced as they have a central part in the production of tires. The growing demand for latex polymers for paints and coatings is a key driver for the growth of the global synthetic latex market. Latex-based paints and coatings have several advantages over oil-based paints and coatings, such as they are easier to work with and dry more quickly, they contain low or near zero VOCs, and are easy to clean-up and re-coat. Moreover, the construction and automotive industries widely use synthetic latex polymers for various applications including paints, coatings, adhesives, sealants, carpets, and nonwoven textile. Thus, the growth in the construction and automotive sectors is expected to augment the growth of the global synthetic latex market.
Furthermore, as concerns over the spread of coronavirus have severely affected the synthetic latex market by hindering production and demand, by disrupting the supply chain and by its impact on firms and the financial markets. The synthetic latex industry is heavily dependent on oil-producing companies in OPEC countries. The spread of COVID-19 in major OPEC countries including Iran, Saudi Arabia, and the UAE has caused severe demand-supply gaps in the industry. Furthermore, the lower production and shortage of synthetic latex in the market is estimated to hamper the market growth in the short term. Infinium Global Research’s recent report on the “Synthetic Latex market (Product- Acrylics, PU (Polyurethane), Vinyl Acetate copolymers, SB latex, Polyvinyl alcohol, and Other; By Application-Paint and Coating, Adhesives and Sealants, Paper, Construction, Glove dipping, Carpets and nonwovens and Textiles): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026” provides a comprehensive outline of the factors responsible for the growth of the market.
The Wider Application
and Versatility of Acrylic latex Polymer is Augmenting its Demand in the Market
In terms of resin products, the acrylic polymers segment generated the highest revenue for the global synthetic latex market, in 2019. Acrylic latex polymers are versatile because of the presence of a large number of building blocks using acrylic ester functionality. Acrylic polymer emulsions find their application in several industries where water-based systems are used. Moreover, suppliers persist to build up new monomers for use by the synthetic mixture polymers industry. The acrylic polymer has properties such as excellent optical clarity, excellent weather ability and resistance to sunlight, Rigid, with good impact strength, excellent dimensional stability and low mold shrinkage, and stretch forming increases bi-axial toughness. Moreover, it is UV resistance, broad tensile/elongation balance, cross-linkable, and has good adhesion to the common substrate. It is used in translucent objects such as lenses, automotive trim, household items, light fixtures, decorator items signage, and point of purchase display. The report on the “Synthetic Latex Market (Product- Acrylics, PU (Polyurethane), Vinyl Acetate copolymers, SB latex, Polyvinyl alcohol, and others; By Application-Paint and Coating, Adhesives and Sealants, Paper, Construction, Glove dipping, Carpets and nonwovens, and Textiles)”
The Synthetic Latex
Market is Anticipated to Witness Several Mergers and Acquisitions over the Forecast
Period
The global synthetic latex polymers market is highly fragmented
with the presence of many regional and global small and medium-sized players.
The presence of several major global players in the market makes competition
among vendors more intense. With the increase in demand for synthetic latex
polymers in APAC and EMEA, especially in emerging economies, the major global
players are taking steps to cater to this demand and reap the profits. These
steps include M&A with regional players and the customization of their
existing products to cater to changing consumer requirements in these regions.
The market is dominated by major players such as Arkema Group, Celanese,
Synthomer, and BASF SE. Apcotex, Bangkok Synthetics, OMNOVA Solutions, Lion
Elastomers, Shanghai Baolijia, and INEOS Styrolution is also a prominent player
in the synthetic latex polymers market. The key market players are focused on
market strategies such as acquisition and new product launches. For instance,
in August 2019, Lion Elastomers LLC has acquired Firestone Orange, which
manufactures polybutadiene, solution styrene-butadiene rubber, and
styrene-butadiene block copolymers. This acquisition takes initiative to expand
the business and offer greater value enhancement to the customers. Infinium
Global Research’s recent report on the Global
Synthetic Latex Market is an encompassment of such recent developments in
the global marketplace. The report delivers insights into the leading players
that have contributed greatly to the growth of the market and also estimates
the impact of product innovations, similar to that of the aforementioned
product on the global market.
Asia Pacific Region to
Generate the Largest Revenue in the Synthetic Latex Market
Geographically, Asia Pacific generated the largest revenue in the global synthetic latex market. A large consumer pool in the Asia Pacific is one of the major drivers for the growth of the synthetic latex polymers market in the region. Moreover, the improving economic conditions of the region such as a higher GDP growth rate and a growing level of disposable incomes are augmenting the growth of the market. Furthermore, the higher sale of the automobile and electronic goods in the region augments the demand for synthetic latex polymers in the Asia Pacific. The growing urban population in the region is further supporting the market growth for synthetic latex polymers in the Asia Pacific. Additionally, the North American synthetic latex market is estimated to hold the second-largest share among the regions. The growing construction industry in the region is anticipated to boost the demand for synthetic latex polymers for paint, coating, construction, carpets, and nonwovens application.
