Market Trends of Synthetic Latex Polymers Industry
This section covers the major market trends shaping the Synthetic Latex Polymers Market according to our research experts:
Increasing Application in Paints and Coatings
- Synthetic latex is petroleum-based and made from Styrene-Butadiene Rubber (SBR).
- The increasing buildings & construction sector is attributing to the growing application of synthetic latex polymers in paints and coatings thereby increasing its market.
- Apart from usage in paints and coatings optimized for the construction industry, processors also use these polymers to increase the adhesion, water resistance, durability, and flexibility of cement and asphalts.
- It is estimated that in the United Kingdom around 27,000 - 50,000 new homes are to be built every year till 2022 to address the housing demand.
- Pure Acrylic, styrene-acrylic, and styrene-butadiene synthetic latex add tremendous value to paints and coatings, delivering films that feature greater strength, flexibility, and excellent water resistance.
- Hence, owing to the growing demand for paints & coatings from the buildings & construction, especially in Asia-Pacific and North American countries, the demand for synthetic latex polymers is expected to increase over the forecast period.
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Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for synthetic latex polymers during the forecast period. Due to the increasing construction activities in countries like China, India and Japan the market for synthetic latex polymers has been increasing.
- The largest producers of synthetic latex polymers are located in Asia-Pacific region. Some of the leading companies in the production of synthetic latex polymers are BASF SE, Dow, Arkema Group, LG Chem, KUMHO PETROCHEMICAL.
- In 2018, the Indian government has announced an investment worth USD 31,650 billion for the construction of 100 cities, under the smart cities plan. 100 smart cities and 500 cities are likely to invite investments worth INR 2 trillion (~USD 28.18 billion), over the coming five years.
- The Chinese government has rolled out massive construction plans, including making provisions for the movement of 250 million people to its new megacities, over the next ten years creating a major scope for construction activity thereby increasing the market for synthetic latex polymers over the coming years.
- Apart from paints & coatings these synthetic latex polymers are also used in adhesives & sealants, textiles and non-woven fabrics, paper & paperboard and others.
- Styrene-Butadiene is the most common type of synthetic latex monomer unit which is widely used in multiple applications.
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for synthetic latex polymers during the forecast period.
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