Synthetic Latex Polymers Market

Synthetic Latex Polymers Market Size (2023-2028)

The synthetic latex polymers market is expected to grow at a compound annual growth rate of 7.1% during the forecast period of 2023-2028. The current market value is expected at 29.5 billion USD in 2022, and it is determined to reach a value of about 34.5 billion USD by the end of 2028.

The growth rate in the synthetic latex polymers market is attributed to the rising demand for latex polymers across several end-user verticals in the world. The market is driven by the heavy implications of adhesives and sealants in various industries. Latex polymers are very economical and require fewer raw materials and thus it attracting different industry verticals. In addition to this, the trend for natural polymers is declining; synthetic latex polymers do not pose any substantial threat to the environment and thus are easy to adopt. The increased penetration of liner-less labels is a big threat to the industry. Liner-less labels expunge the usage of Synthetic Latex Polymers and do the same job, thus liner-less labels may be proven to be a restraining factor for the industry in the coming days. The increase in the worldwide construction sector is offering lucrative opportunities for the development of the paints and coatings sector, which, in turn, is driving the expansion rate in the global synthetic latex polymers industry.

Synthetic Latex Polymers Drivers and Restraints:

The market is showing great potential for growth during the forecast period of 2018-2023. The increasing population of the world is constantly demanding more and more resources. Within the last 50 years, the population of the world has more than doubled and it is expected to hit the 10 billion mark in 2050. The market is driven by growth in the construction sector, which is the largest consumer of synthetic latex polymers. With the increase in the mean disposable income across the world, the market is anticipated to see a boom in emerging economies. With the increase in the usage of water-based adhesives, the market is set to grow drastically in the upcoming years.

The rise in the volume of automobiles in the Asia Pacific, Latin America, and the Middle East, and Africa regions is also expected to propel the market. The increasingly turbulent political environment of the petroleum-producing nations due to internal conflicts, mismanagement, and external factors is hurting the market as many of the starting materials for the production of synthetic latex polymers are derivatives of petroleum. The market is experiencing increased anxiety due to the unpredictable presidency of Donald Trump and his foreign policies. The sanctions on Iran and Venezuela are particularly biting the market. Fluctuating oil prices and the uncertainty arising from them is restraining the market. Growing labor and transportation costs are only adding to the woes of the market.

SYNTHETIC LATEX POLYMERS MARKET REPORT COVERAGE:

Synthetic Latex Polymers Market Segmentation as per the research report until 2028.

Synthetic Latex Polymers Market - By Type:

• Acrylics

• Vinyl Acetate Copolymer

• VAE

• Styrene Acrylics

• Styrene-Butadiene

• VAC

The Vinyl Acetate copolymer market is anticipated to be the fastest-growing segment of the Synthetic Latex Polymer market.

The Vinyl acetate copolymer has gained widespread acceptance in the industry due to its superior performance and many salient features. It is widely used in the production of paints and coatings, adhesives and sealants, nonwoven mats, binders, paper, and paperboard coatings. It is expected to retain the top spot during the period of 2018-2023.

Synthetic Latex Polymers Market  - By Application:

• Nonwovens

• Paints & Coatings

• Paper & Paperboard

• Adhesives & Sealants

• Carpets

Due to the increased construction activity and growing population with automobiles, the market for paints and coatings is projected to be the largest during the analysis period with the highest growth rate among all the segments. Paints and Coatings to lead the Global Synthetic Latex Polymers market during the analysis period of 2018-2023.

Synthetic Latex Polymers Market - By Region:

• North America 

• Europe 

• Asia Pacific

• Latin America 

• The Middle East and Africa 

The synthetic Latex Polymers market is segmented by type as acrylics, VAE, and PVA. The styrene-acrylic segment is expected to dominate the market during the forecasted period as companies are adopting this material because of its usage in roof coatings, architectural coatings, and binders.  Developing economies in Asia are rising the demand for these acrylics and thus driving the overall business. Based on applications, the coatings and paintings segment is foreseen to dominate the global synthetic latex polymers market. The demand for adhesives is also growing in the construction segment and thus in parallel increases the demand for coatings and paints, supporting the developments in the worldwide synthetic latex polymers business.

Recent Developments 

1. Synthetic Latex Polymers were among the worst hit by the Trump sanctions on China. With the trade dispute between China and the US escalating the trade war fears seem to be coming true.

2. Biobased latex polymers are also expected to capture a big chunk of the global polymer market potentially acting as disruptors for the synthetic market.

3. Recently Kraton Performance Polymers faced tough times recently, with its decreasing stock price and brand value.

Synthetic Latex Polymers Market Key Players :

1. Dow Chemical Company (US)
2. OMNOVA Solutions (US)
3. Trinseo (US)
4. Celanese Corporation (US)
5. Wacker Chemie (Germany)
6. Synthomer (UK)
7. BASF (Germany)
8. Arkema (France)
9. ARLANXEO (Netherlands)
10. Asahi Kasei (Japan)