Synthetic Latex Polymers Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Synthetic Latex Polymers Market Analysis
The market for Synthetic Latex Polymers is expected to grow at a CAGR of about 3% globally during the forecast period. Increasing application in paints & coatings and growing demand owing to its wide range of applications are driving the market growth. On the flip-side, diminishing demand for carpets is expected to hinder the market growth.
- Synthetic Latex Polymers Market is expected to grow during the forecast period owing to the increasing application in paints and coatings.
- Asia-Pacific region dominated the market across the globe with the largest consumption from the countries such as China, India and Japan.
Synthetic Latex Polymers Market Trends
This section covers the major market trends shaping the Synthetic Latex Polymers Market according to our research experts:
Increasing Application in Paints and Coatings
- Synthetic latex is petroleum-based and made from Styrene-Butadiene Rubber (SBR).
- The increasing buildings & construction sector is attributing to the growing application of synthetic latex polymers in paints and coatings thereby increasing its market.
- Apart from usage in paints and coatings optimized for the construction industry, processors also use these polymers to increase the adhesion, water resistance, durability, and flexibility of cement and asphalts.
- It is estimated that in the United Kingdom around 27,000 - 50,000 new homes are to be built every year till 2022 to address the housing demand.
- Pure Acrylic, styrene-acrylic, and styrene-butadiene synthetic latex add tremendous value to paints and coatings, delivering films that feature greater strength, flexibility, and excellent water resistance.
- Hence, owing to the growing demand for paints & coatings from the buildings & construction, especially in Asia-Pacific and North American countries, the demand for synthetic latex polymers is expected to increase over the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for synthetic latex polymers during the forecast period. Due to the increasing construction activities in countries like China, India and Japan the market for synthetic latex polymers has been increasing.
- The largest producers of synthetic latex polymers are located in Asia-Pacific region. Some of the leading companies in the production of synthetic latex polymers are BASF SE, Dow, Arkema Group, LG Chem, KUMHO PETROCHEMICAL.
- In 2018, the Indian government has announced an investment worth USD 31,650 billion for the construction of 100 cities, under the smart cities plan. 100 smart cities and 500 cities are likely to invite investments worth INR 2 trillion (~USD 28.18 billion), over the coming five years.
- The Chinese government has rolled out massive construction plans, including making provisions for the movement of 250 million people to its new megacities, over the next ten years creating a major scope for construction activity thereby increasing the market for synthetic latex polymers over the coming years.
- Apart from paints & coatings these synthetic latex polymers are also used in adhesives & sealants, textiles and non-woven fabrics, paper & paperboard and others.
- Styrene-Butadiene is the most common type of synthetic latex monomer unit which is widely used in multiple applications.
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for synthetic latex polymers during the forecast period.
Synthetic Latex Polymers Industry Overview
The global synthetic latex polymers market is fragmented with players accounting for a marginal share of the market. Few companies include BASF SE, Zeon Europe GmbH, Arkema Group, LG Chem, KUMHO PETROCHEMICAL.
Synthetic Latex Polymers Market Leaders
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Zeon Europe GmbH
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Dow
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Arkema Group
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LG Chem
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KUMHO PETROCHEMICAL
*Disclaimer: Major Players sorted in no particular order
Synthetic Latex Polymers Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Drivers
- 4.1.1 Increasing Application in Paints & Coatings
- 4.1.2 Growing Demand Owing to its Wide Range of Applications
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4.2 Restraints
- 4.2.1 Diminishing Demand for Carpets
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
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5.1 Synthetic Latex Polymer Type
- 5.1.1 Styrene-Butadiene
- 5.1.2 Acrylic
- 5.1.3 Vinyl Acetate
- 5.1.4 Polyvinyl Acetate
- 5.1.5 Others
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5.2 Application
- 5.2.1 Paints & Coatings
- 5.2.2 Adhesives & Sealants
- 5.2.3 Textiles and Non-Woven Fabrics
- 5.2.4 Paper & Paperboard
- 5.2.5 Others
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 France
- 5.3.3.4 Italy
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share/Ranking Analysis**
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Apcotex Industries Limited
- 6.4.2 Arkema Group
- 6.4.3 BASF SE
- 6.4.4 Dow
- 6.4.5 Jubilant
- 6.4.6 KUMHO PETROCHEMICAL
- 6.4.7 LG Chem
- 6.4.8 Lion Elastomers
- 6.4.9 SIBUR International GmbH
- 6.4.10 Zeon Europe GmbH
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Development of More Efficient Synthetic Latex Polymers
Synthetic Latex Polymers Industry Segmentation
The Synthetic Latex Polymers Market report include:
| Synthetic Latex Polymer Type | Styrene-Butadiene | |
| Acrylic | ||
| Vinyl Acetate | ||
| Polyvinyl Acetate | ||
| Others | ||
| Application | Paints & Coatings | |
| Adhesives & Sealants | ||
| Textiles and Non-Woven Fabrics | ||
| Paper & Paperboard | ||
| Others | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Synthetic Latex Polymers Market Research FAQs
What is the current Synthetic Latex Polymers Market size?
The Synthetic Latex Polymers Market is projected to register a CAGR of 3% during the forecast period (2024-2029)
Who are the key players in Synthetic Latex Polymers Market?
Zeon Europe GmbH , Dow, Arkema Group , LG Chem and KUMHO PETROCHEMICAL are the major companies operating in the Synthetic Latex Polymers Market.
Which is the fastest growing region in Synthetic Latex Polymers Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Synthetic Latex Polymers Market?
In 2024, the Asia Pacific accounts for the largest market share in Synthetic Latex Polymers Market.
What years does this Synthetic Latex Polymers Market cover?
The report covers the Synthetic Latex Polymers Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Synthetic Latex Polymers Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Synthetic Latex Polymers Industry Report
Statistics for the 2024 Synthetic Latex Polymers market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Synthetic Latex Polymers analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
