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
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