Latex Binders Market: Introduction
- Latex binders are man-made and essential materials used in various end-use industries to enhance the physical and mechanical properties of products
- Major raw materials used in the manufacture of latex binders are petroleum compounds, styrene, and butadiene
- Latex binders possess low viscosity. Therefore, it is easy to apply them. These binders provide toughness, improve adhesion, increase bonding, and reduce cracking.
Key Drivers and Restraints of Latex Binders Market
Increasing demand for technical textiles is boosting the demand for latex binders. Technical textiles is one of the most innovative product segments in the global textile industry due to its increasing attractiveness and adaptability in nonwoven fabrics. Continuous growth of the automotive industry is fueling the demand for technical textiles. However, volatility in raw material prices and the cost of energy used in manufacturing latex binders are some of the major factors that are adversely affecting the latex binders market.
Latex Binders Market: Type Segment
- Based on type, the latex binders market can be segmented into styrene acrylic, styrene-butadiene, and others
- The styrene-butadiene segment is projected to dominate the global latex binders market during the forecast period
- Demand for styrene-butadiene binders is high demand among latex binder manufacturers for applications in various end-use industries
- Styrene-butadiene is classified into styrene-butadiene rubber and styrene-butadiene copolymer. Some of the primary advantages of styrene-butadiene binders are good handling properties, ease of application, and high bonding strength. The styrene-butadiene segment is projected to dominate the market in the near future.
- Styrene-butadiene binders are widely used in applications such as construction additives, paints & coatings, adhesives & sealants, paper & paperboard, textile & carpet, and sports surfaces
Latex Binders Market: End-use Industry Segment
- Based on end-use industry, the latex binders market can be divided into paints & coatings, adhesives & sealants, paper & paperboard, textile & carpet, construction & fiber bonding materials, and others
- The paints & coatings segment is projected to dominate the global latex binders market during the forecast period
- Latex binders are used as emulsion in architectural paints. The primary function of the latex binder in the paints & coatings segment is to decorate and protect new construction as well as maintenance of existing structures. Other miscellaneous applications of latex binders in this segment include traffic paints, vehicle refinishing, high-performance coatings for industrial plants and equipment, and protection of marine structures and vessels.
COVID-19 Impact on Global Latex Binders Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- COVID-19 has created disruption in all end-use industries of latex binders such as paints & coatings, automotive, textile & carpet, adhesives & sealants, building & construction, and electronics. Demand for latex binders has decreased significantly during the pandemic. Manufacturing facilities have been compelled to close down due to stringent governmental regulations or lack of demand.
- Export activities have decreased significantly to prevent the spread of COVID-19 across the world
Asia Pacific to Hold Leading Share of Global Latex Binders Market
- In terms of region, the latex binders market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is expected to hold major share of the global latex binders market, followed by North America and Europe, during the forecast period
- China was the major consumer of latex binders in Asia Pacific in 2020 in terms of value as well as volume
Key Manufacturers Operating in Global Latex Binders Market
The global latex binders market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the latex binders market include:
- DIC Corporation
- ARKEMA S.A.
- BASF SE
- Mallard Creek Polymers
- Wires and Fabriks (S.A.) Ltd.
- Wacker Chemie AG
Latex Binders: Research Scope
Latex Binders Market, by Type
- Styrene Acrylic
Latex Binders Market, by End-use Industry
- Paints & Coatings
- Adhesives & Sealants
- Paper & Paperboard
- Textile & Carpet
- Construction & Fiber Bonding Materials
Latex Binders Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.