Press release
Synthetic Latex Polymers Market Share, Size, Growth Rate, Trends Analysis And Forecast To 2033
Synthetic Latex Polymers Market
The synthetic latex polymers market size is expected to see strong growth in the next few years. It will grow to $41.62 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to growing emphasis on bio-based polymers, expanding applications in water-based formulations, increased demand for customized formulations, rising importance of lightweight materials, global focus on green and sustainable practices, technological integration for enhanced product properties. Major trends in the forecast period include technological advancements in polymerization processes, increasing use in non-woven fabrics, growing demand in the asia-pacific region, stringent environmental regulations, resilience amid economic challenges.
Market Overview -
Synthetic latex polymers refer to a synthetic substitute for natural latex generated by combining the petrochemical chemicals styrene and butadiene to form SBR (styrene-butadiene rubber).
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Surge In Construction Activity Propels Growth In The Synthetic Latex Polymers Market
Increasing construction activity is expected to propel the growth of the synthetic latex polymers market going forward. Construction activities refer to activities that are incidental to the construction, dismantling, assembly, alteration, installation, or equipping of buildings, structures, roadways, or their appurtenances. Synthetic latex polymers are used in construction products like paints and coatings, adhesives and sealants, and more to improve the elastomer property, bind, and avoid cracking. For instance, in September 2022, according to the United States Census Bureau, a principal agency of the U.S. Federal Statistical System, in the USA, around 1,610 thousand new residential construction projects were begun in 2021, an increase of 16.7% from the 1,379.61 thousand units started in 2020. Therefore, increasing construction activities are driving the growth of the synthetic latex polymers market.
Competitive Landscape -
Major companies operating in the synthetic latex polymers market report are Wacker Chemie AG, Apcotex Industries Limited, Arkema S.A., Arlanxeo Holding BV, Asahi Kasei Corporation, Bangkok Synthetics Co. Ltd., BASF SE, Celanese Corporation, Jubilant Agri & Consumer Products Ltd., Kumho Petrochemical Co. Ltd., LG Chem Ltd., Lion Elastomers LLC, OMNOVA Solutions Inc., Sumitomo Chemical India Ltd., Synthomer plc, Dow Chemical Company, Trinseo S.A., Versalis SPA, Zeon Corporation, SIBUR International GmbH, The Lubrizol Corporation, The Goodyear Tire & Rubber Company, Eastman Chemical Company, Kuraray Co. Ltd., Synthomer Deutschland GmbH, Asahi Glass Co. Ltd., Nitriflex S/A Indústria e Comércio, Ansell Limited, Momentive Performance Materials Inc., Kraton Corporation
Technological Advancements Redefine The Synthetic Latex Polymers Market With Techsyn Tire Technology
Technological advancements have emerged as a key trend gaining popularity in the synthetic latex polymers market going forward. Major companies operating in the synthetic latex polymers market are focused on innovating new technologies to sustain their position in the market. For instance, in February 2021, Bridgestone, a Japan-based tire and rubber company, Arlanxeo, a Netherlands-based synthetic rubber producer, and Solvay, a Belgian-based chemical company, launched Techsyn, a brand-new, jointly created platform for tire technology that will allow for unmatched strength and environmental performance from tires. To achieve great performance, Techsyn blends chemically enhanced synthetic rubber with specially formulated silica. In a unique way, Techsyn can balance a tire's performance across rolling resistance, wear, and wet grip. It may also be further customized to fit different needs. Techsyn enables tires to achieve up to 30% greater wear efficiency and a rolling resistance reduction of up to 6%.
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Key Segments -
The synthetic latex polymers market covered in this report is segmented -
1) By Type: Styrene Acrylic, Styrene Butadiene, Acrylic, Vinyl Acetate Copolymer, Polyvinyl Acetate, Vinyl Acetate Ethylene, Other Types
2) By Application: Paints and Coating, Adhesives and Sealants, Nonwovens, Carpets, Paper and Paperboard, Other Applications
3) By End-Use: Construction Sector, Automotive Industry, Electronics Sector, Textile Industry, Healthcare Sector, Other End-User Industries
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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