Synthetic Latex Polymers Market: Overview
- Synthetic latex polymers is an attractive class of materials due to its ability to modify material properties for specific applications such as alteration of the molecular weight to influence degradation or mechanical properties
- Synthetic latex polymers are aqueous dispersions of polymers obtained by emulsion polymerization. Since the natural latex is expensive, synthetic latex can be produced on large scale due to its lower cost, depending upon the monomer used.
Key Drivers of Synthetic Latex Polymers Market
- Increase in demand for synthetic latex polymers in paints & coatings is expected to drive the global synthetic latex polymers market during the forecast period
- The global paints & coatings industry is majorly driven by the increase in construction activities. This, in turn, is anticipated to boost the global synthetic latex polymers market during the forecast period.
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Fluctuation in Prices of Crude Oil Hampering Synthetic Latex Polymers Market
- Fluctuation in prices of crude oil is a major factor restraining the synthetic latex polymers market
- Limited availability of crude oil reserves is adversely affecting the synthetic latex polymers market, as these polymers are highly dependent on manufacture of petroleum products from crude oil
Styrene Acrylics to be Rapidly Growing Segment
- The styrene acrylics segment accounted for major share of the global synthetic latex polymers market in 2018. It is expected to be a dominant segment during the forecast period.
- Styrene acrylics are majorly employed in the manufacture of architectural paints. Growth of the styrene acrylics segment can be ascribed to the expansion of the global construction industry, which is key consumer of paints, coatings, adhesives, and sealants.
- Vinyl acetate ethylene is also estimated to be a growing segment of the market during the forecast period. Growth of vinyl acetate ethylene can be ascribed to its industry-wide acceptance due to its enhanced performance and superior characteristics.
Paints & Coatings Application to Account for Major Share
- The paints & coatings segment accounted for key share of the global synthetic latex polymers market in 2018. It is anticipated to dominate the global synthetic latex polymers market during the forecast period.
- Synthetic latex polymers, manufactured from monomeric materials such as vinyl acetate and other acrylates, are key ingredients of any paint formulation. Use of synthetic latex polymers in interior, exterior, and architectural coatings has been increasing. This is projected to drive the paints & coatings segment of the global synthetic latex polymers market.
Asia Pacific Expected to Hold Major Share of Global Synthetic Latex Polymers Market
- Geographically, the global synthetic latex polymers market can be split across five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- In terms of volume, Asia Pacific held significant share of the global synthetic latex polymers market in 2018. It is expected to dominate the global synthetic latex polymer market during the forecast period. China is a key region of the synthetic latex polymer market in Asia Pacific.
- Dominance of Asia Pacific can be ascribed to the increase in construction activities in the region in countries such as India and China. Increase in construction activities in India and China can primarily be ascribed to the rise in population, growth in per capita income, and surge in urbanization. These, in turn, are boosting the demand for new houses in urban areas, thereby propelling the demand for paints and coatings and indirectly that for synthetic latex polymers.
- New product launches, market development, and mergers & acquisitions are key strategies adopted by leading manufacturers in Asia Pacific
- North America is also key region of the global synthetic latex polymers market. Increase in commercial construction activities and major production of paints and coatings in countries such as the U.S. are expected to drive the synthetic latex polymers market in North America during the forecast period.
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Key Players in Market
Prominent players operating in the global synthetic latex polymers market include:
- BASF SE
- Wacker Chemie AG
- Synthomer plc
- Celanese Corporation
- Asahi Kasei Corporation
- OMNOVA Solutions Inc.
- Apcotex Industries Limited
- Bangkok Synthetics
- LG Chem
Global Synthetic Latex Polymers Market: Research Scope
Global Synthetic Latex Polymers Market, by Type
- Styrene Acrylic
- Styrene Butadiene
- Vinyl Acetate Ethylene
- Poly Vinyl Acetate
- Vinyl Acetate Copolymers
Global Synthetic Latex Polymers Market, by Application
- Paints & Coatings
- Adhesives & Sealants
- Paper & Paperboard
- Carpets & Nonwovens
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