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What's driving the Styrene Butadiene Latex Market growth? | By Players: BASF SE, The Dow Chemical Company, Zeon, Styron Europe GmbH, Mallard Creek Polymers
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Major questions addressed through this global research report:
1. What are the demanding sectors for driving this global market?
2. Which are the major key players and competitors?
3. What will be the market size of the global market?
4. Which are the recent advancements in the global market?
5. What are the restraints, threats, and challenges in front of the market?
6. What are the global opportunities in front of the market?
7. How digital footprint helps to expand the business structure and economic outcomes?
According to a comprehensive research report compiled by Global Market Insights, Inc., styrene butadiene latex market size is likely to surpass $9 billion by 2024.
The spiraling demand for paper from education, packaging, and other sectors has generated significant styrene butadiene latex market demand. For example, China is the largest producer, as well as consumer of paper. The country recorded paper production of over 108 million tons and consumption of over 106 million tons. Thus, flourishing paper processing industry is expected to fuel styrene butadiene latex market growth.
Low and high butadiene content styrene butadiene latex is majorly used in the production of adhesives. Adhesives and sealants are largely used in construction, automotive, paper processing, and electrical industry, which will indirectly influence styrene butadiene latex industry outlook. In 2016, styrene butadiene latex market share from adhesives application accumulated gains over $280 million and the segment is predicted to showcase similar growth patterns over the forecast period.
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Regionally, Latin America has induced considerable styrene butadiene latex industry demand, in part, due to expanding textile industry. Socio-economic development and growing population are positively impacting textile industry demand in the region. The construction industry is also expanding rapidly in the region owing to rapid urbanization and industrialization. Also, Latin America has been observing escalating demand for paper products on account of flourishing packaging industry in Mexico and Brazil, which will significantly contribute to styrene butadiene latex market size.
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