Rockville, March 24, 2023 (GLOBE NEWSWIRE) -- Increasing construction activities worldwide has led to a surge in the demand for paints and coatings, which is expected to drive the sales of synthetic latex polymers. According to a recent research report by Fact.MR, a provider of market research and competitive intelligence, the global synthetic latex polymers market is projected to reach a value of US$ 98.8 billion by the end of 2033, expanding at a CAGR of 4.2% from 2023 to 2033.
Synthetic latex polymers encompass materials such as latex, rubber, and fiber, and recent technological advancements in their production are expected to create promising opportunities. Styrene acrylic based synthetic latex polymers, which are widely used in construction and roof coatings, are an example of these developments. Synthetic latex is also utilized in the manufacture of various electronic and architectural products. Additionally, synthetic latex polymers are essential components in the production of adhesives and sealants, paper, carpets, as well as paints and coatings.
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Growing utilization of styrene-butadiene latex can be attributed to the increasing demand in various industries such as carpets, paper & paperboard, fibers, and adhesives. The ban on plastic bags worldwide has led to a surge in demand for environmentally friendly packaging solutions like cardboard and paper, which has further boosted the demand for styrene-butadiene latex. Additionally, the construction industry's rising need for pressure-sensitive mortar additives, paints, coatings, and adhesives has also contributed to the increased utilization of styrene-butadiene latex.
Over the past few years, there has been a noticeable rise in commercial and residential construction activities, leading to increased demand for synthetic latex polymers. The paints and coatings industry is also expected to contribute to the growth of the synthetic latex polymer market, creating profitable opportunities. Furthermore, increased R&D efforts to produce more efficient synthetic latex polymers have also contributed to their increased demand. In the healthcare sector, sales of products such as electrode pads, surgical gloves, stethoscopes, catheters, wraps, and elastic bandages made with synthetic latex polymers are on the rise, further contributing to growth opportunities in the target industry.
Synthetic latex polymers are employed for a wide variety of medical purposes. Synthetic polymers are more flexible and are used significantly to develop light-activated adhesive materials, which help in resealing blood arteries at the time of vascular surgery. Synthetic latex polymers are also utilized in surgical glue to meet different requirements. Synthetic latex polymers come with the features of easy integration with human flesh, which will boost their demand in the healthcare industry.
Key Takeaways from Market Study
- The global synthetic latex polymers market is valued at US$ 65.5 billion in 2023.
- Sales of synthetic latex polymers are forecasted to increase at a CAGR of 4.2% from 2023 to 2033.
- Demand for synthetic latex polymers is predicted to expand at a CAGR of 2.8% through 2033 in Germany.
- Sales of synthetic latex polymers are anticipated to advance at a CAGR of 3.5% in Canada.
- Demand for styrene acrylic-based synthetic latex polymers is estimated to expand at a CAGR of 4.4%.
- Worldwide demand for synthetic latex polymers is expected to reach US$ 98.8 billion by the end of 2033.
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Competitive Landscape
To maintain product standards and pursue profitable growth opportunities in the target industry, some major suppliers of synthetic latex polymer are increasing their expenditures and focusing on strengthening their supply chain management systems. This is one of the notable initiatives being undertaken by these suppliers.
Mergers & acquisitions will be increasingly adopted by key players to generate growth opportunities in the coming decade.
For instance:
Hextar Global Berhad, a Malaysian-based supplier of synthetic latex polymers, acquired TufBond Technologies, another provider of synthetic latex polymers, in November 2021. This acquisition is expected to help Hextar broaden its reach and expand its market presence.
Key Market Players
- Apcotex Industries Limited
- Celanese Corporation
- Jubilant Agri and Consumer Products Ltd.
- Omnova Solutions, Inc.
- Shanxi Sanwei Group Co., Ltd.
- Sumitomo Chemical Co., Ltd.
- Trinseo LLC
- Wacker Chemie AG
Synthetic Latex Polymers Industry Segmentation
- By Type:
- Styrene Acrylic
- Styrene Butadiene
- Acrylic
- Vinyl Acetate Copolymer
- Polyvinyl Acetate
- Vinyl Acetate Ethylene
- Others
- By Application:
- Processed Paper
- Adhesives & Sealants
- Paints & Coatings
- Packaging
- Rubber Gloves
- Automotive Parts
- Non-woven Fabrics
- Others
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the synthetic latex polymers market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights on the market based on type (vinyl acetate ethylene, styrene acrylic, styrene-butadiene, acrylic, polyvinyl acetate, vinyl acetate copolymer, others) and application (processed paper, paints & coatings, adhesives & sealants, packaging, automotive parts, rubber gloves, non-woven fabrics, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
Key Questions Covered in the Synthetic Latex Polymers Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Synthetic Latex Polymers sales grow until 2033?
- Which are the factors hampering the Synthetic Latex Polymers demand?
- Which region will spearhead the growth in the global industry during 2023-2033?
- Which are the factors driving sales in the Synthetic Latex Polymers Market during the forecast period?
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Construction Polymers Market Research: The global construction polymers market research consists of well-diversified global and regional players with the global players accounting for a substantial market share. The construction polymers market is highly fragmented into major countries such as China, India, United States, etc. and is consists of large number of local players.
Medical Polymers Market Sales: Based on the analysis by Fact.MR, the global medical polymers market sales is valued to be US$ 10.4 billion in 2023 and it is anticipated to grow at a CAGR of 8.4% to reach US$ 23.4 billion by the end of 2033.
Detergent Polymers Market Share: The global Detergent Polymers market share is estimated to hold a valuation of US$ 367.4 million in 2022 and is projected to grow at a CAGR of 4.9% to reach a valuation of US$ 590.9 million by 2032.
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