Styrene Butadiene (SB) Latex Market to Witness Steady Growth During the Forecast Period 2017-2024
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Paper industry growth will be a prime revenue generating driver for styrene butadiene latex market during the forecast period as SB latex acts as a strong binder in paper processing. Currently, Asia Pacific is the leading region in SB latex market. Mainly led by China, this region accounts for almost 40% of global product consumption as it has huge market for paper and paper board products.
Some major players in the styrene butadiene latex market are expanding their production capacity for tapping the potential demand that is likely to rise due to increased demand for coated paper in Asia Pacific market. A major hurdle in styrene butadiene latex market growth is the oscillating feedstock prices, which directly affects the production process of SB latex and hampers its growth.
Low butadiene content SB latex held a prominent share in global styrene butadiene latex market due to its extensive application in various end-user industries such as adhesives and textiles. The product is also used in non-woven fabrics and pressure sensitive adhesives.
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In 2016, paper processing segment accounted for a major share of overall styrene butadiene latex market. Asia Pacific and Latin American paper industry is growing tremendously from past few years. In last 20 years, the paper products usage has increased from 92 million tons to 208 million tons. This shall be a growth indicator for styrene butadiene latex market size growth in future.
Latin America is likely to witness prominent CAGR during the forecast timespan for styrene butadiene latex market and held a prominent share in 2016. Latin America is a growing market for paper and textile products, increasing per capita income of consumers in Brazil and Mexico, have has led to surged demand for both paper and textile. This positive trend will subsequently drive the product demand in the region over the next few years.
Asia Pacific, led by China, will expand at prominent growth rate over the forecast timeframe. Asia Pacific is a leading carpet and paper producer and an enormous market for the paper based and textile & garments industry. Both, carpet and paper industries in Asia Pacific are growing at prominent rates, which clearly indicates new growth avenues for product demand in the next few years.
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The styrene butadiene latex market is fragmented with many companies holding for the majority of the market share while Trinseo and BASF SE have emerged as market leaders. Key industry players include Trinseo, Dow Chemical Company, Styron Europe GmbH, Asahi Kasei Chemical Corporation. Other prominent styrene butadiene latex manufacturers include LG Chem, Mallard Creek Polymers, Synthomer Plc and Synthetic Latex Company (Pty) Ltd.
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