Latex Binders Market worth $9.0 billion by 2026 | Key players Trinseo, BASF, Wacker Chemie, Arkema, Celanese Corporation

According to recent market research "Latex Binders Market by Type (Styrene Acrylic, Styrene Butadiene), End-use Industry (Paints & Coating, Adhesive & Sealant, Paper & Paperboard, Textile & Carpet, Construction & Fiber Bonding Materials), and Region - Global Forecast to 2026", size is projected to grow from an estimated value of USD 6.6 billion in 2021 to USD 9.0 billion by 2026, at a CAGR of 6.5% during the forecast period. The growing application of styrene-butadiene binders at a global level in industries such as paints & coating, adhesive & sealants, textile & carpet, construction & fiber bonding materials, and others to drive the market demand for latex binders. Further, the increasing demand for latex binders from developing economies of the world owing to the growth of different application industries as well as the shift from high voC to low VoC towards more eco-friendly ones will additionally boost the latex binders market in the future.

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Styrene-butadiene is expected to be the most significant type of latex binders used globally in terms of value and volume. Styrene-butadiene binders is widely used in varied foam applications owing to its good handling property, ease of application, and high bonding strength. The growth of styrene-butadiene is supported by the increasing usage of the styrene-butadiene copolymer and styrene-butadiene rubber in various end-use industries. The growing demand for low-cost medium to formulate latex, making styrene bytadiene latex comparatively inexpensive. This latex binder is widely used in applications such as construction additives, paints & coating, adhesive & sealant, paper & paperboard, textile & carpet, and sports surfaces.

Paints & coating is projected to be the fastest-growing market for latex binders during the forecast period. paints & coatings require various types of latex binders such as acrylic, latex, and vinyl acetate, among others. Architectural paints are majorly manufactured using acrylic in the paints & coating industry. The paper & paperboard end-use industry requires the SB latex binder while the vinyl acetate latex binder is used in adhesive & sealant. The demand for the latex binder is majorly driven by paints & coating, while the market in the construction & fiber bonding materials segment is expected to grow at the highest CAGR during the forecast period.

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The global latex binders market size is projected to reach USD 9.0 billion by 2026 at a CAGR of 6.5% from USD 6.6 billion in 2021. The increasing demand from technical textiles, increase in demand for protective coatings for roofs and floors in industrial and commercial facilities, increasing demand from emerging economies, and rising per capita consumption of paints is driving the market for latex binders.

The increase in demand for latex binders and the growing industrial development in the emerging economies, such as APAC and South America, are driving the market. The key players in the latex binders market include Trinseo (US), BASF SE (Germany), Wacker Chemie (Germany), Arkema (France), Synthomer Plc (UK), Celanese Corporation (US), Omnova Solutions (US), Dairen Chemical (Taiwan), Arlanxeo (Netherlands), Kalpana Polymers (India), Shandong Hearst Building Material (China), Visen Industries (India), Jesons (India), Acquos (Australia), Organik Kimya (Turkey), Puyang Yintai Industrial Trading (China), Bosson Union Tech (China), ADPL Group (India), Sakshi Chem Sciences (India), Apcotex (India), Bangkok Synthetics (Bangkok), Goodyear Chemical (US), Jubilant Agri & Consumer Products (India), Kumho Petrochemical (South Korea), Lion Elastomers (US), Lubrizol (US), Shanghai Baolijia (China), Shanxi Sanwei (China), Sibur (Russia), and Sumitomo Chemical (Japan). These market leaders have adopted various organic as well as inorganic growth strategies between January 2015 and July 2021 to strengthen their position in the latex binders market. The strategy of acquisitions and expansions were among the major growth strategies adopted by the leading market players to enhance their regional presence and meet the growing demand for latex binders in emerging economies.

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Trinseo is a global materials solutions provider and manufacturer of plastics, latex binders, and synthetic rubber. The company delivers solutions across a wide range of end markets including automotive, consumer electronics, appliances, medical devices, lighting, electrical, carpet, paper and board, building and construction, and tires. The company entered into a joint venture with Chevron Phillips Chemical Company in 2007 which led to the formation of Americas Styrenics, a producer of polystyrene and styrene monomers. The company operates through six business segments, namely, latex binders, synthetic rubber, engineered materials, performance plastics, feedstocks, and base plastics. It offers latex binders through its latex binders business segment. In May 2020, Trinseo announced the usage of its SB latex binders for geogrid applications in construction. Geogrids are commonly used as a reinforcement treatment on soft soil foundation, roadbeds, dams, hillsides, and in mining projects to strengthen foundations and enhance their protective capabilities, thereby improving the bearing capacity and stability of materials. Trinseo’s styrene-butadiene (SB) latex is expected to be an important binding material for geogrids which enables excellent fiber positioning ability, adhesion, and retention. This product improves the overall quality and durability of infrastructure projects.

BASF SE is one of the largest manufacturers of chemicals, plastics, and performance products. It operates through five main business segments, namely, chemicals, materials, industrial solutions, surface technologies, agricultural solutions, and nutrition & care. The company offers latex binders through its dispersions, resins, and additives segment which is a part of the industrial solutions business segment. It also offers a few grades of latex binders through its chemicals business segment. BASF’s dispersions & resins business develops, produces, and markets a wide range of high-quality resins, additives, colorants, and polymer dispersions. These raw materials are used in formulations for coatings & paints, printing & packaging products, construction chemicals, adhesives, fiber bondings, nonwovens, and paper manufacturing. The chemicals business segment also offers solvents, plasticizers, monomers, and raw material for plastics, textile fibers, and paints & coating. In April 2021, BASF SE extended its paper and board coatings partnership with Omya for minimum four years. Under this partnership, BASF SE is expected to continue to supply its binders and coating additives for the formulation of paper and board coatings.

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