The report titled 'Global Synthetic Latex Polymer Market - Growth, Share, Opportunities, and Competitive Analysis, 2023 - 2032' offers strategic visions into the global synthetic latex polymer market along with the market size (Revenue - US$ Million).
The said research study covers in-depth analysis of multiple market segments based on product, end user, and study across different topographies. The report is also inclusive of competitive profiling of the leading synthetic latex polymer vendors, and latest developments. Synthetic latex was invented after Second World War and the pace of its development was spurred by the urgent search for a viable synthetic substitute for natural rubber to sustain the war machine. This further led to the advent of emulsion polymerization theories.
Gradually the use of synthetic latex for glove making came into picture since 19th century in North America, which led it to be the largest consumer of synthetic latex polymers. Hence, North America accounts for more than 30% of the total market share in 2017. In addition, the increased demand for paints, coatings, and adhesives and sealants due to the global recovery of the housing market is driving the market growth.
The housing market in countries such as China, Russia, Turkey, Luxemburg, Singapore, Columbia, and India are witnessing considerable growth thereby driving the demand for latex polymer based paints and coatings. The global synthetic latex polymer market is expected to expand at a CAGR of 4.0% from 2019 to 2024 to reach a market size of US$ 30 Billion by 2024. The key factor driving growth of global synthetic latex polymer market is the increase in investments in the development of commercial infrastructure in Asia Pacific and Latin America.
Furthermore, the growing demand for synthetic latex polymers for manufacturing latex gloves and bio-adhesives for the ever-increasing healthcare industry in several developing economies is projected to spur market growth. On the contrary, poor performance of some major consuming applications may significantly hamper the growth of synthetic latex polymer market in the coming years.
The global synthetic latex polymer market has been segmented based on product, end user, and geography. Based on product, the global synthetic latex polymer market has been segmented into acrylics, SB latex, PVA, Vinyl copolymers, PU, and others. Based on end user, the global synthetic latex polymer market has been segmented into paints & coatings, adhesives & sealants, paper, construction, glove dipping, and carpets & nonwovens. Among various applications, paints & coatings accounted for major share in the global synthetic latex polymer market in 2017 and this segment is further expected to remain dominant in the near future expanding at a CAGR of 4.2% from 2018 to 2024. The prompt development of the house remodeling and commercial housing segments in the Asia Pacific region are the key drivers for the growth of this segment. Based on geography, the global synthetic latex polymer market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America comprises U.S., Canada, and Mexico whereas Europe would primarily cover Germany, France, UK, Italy, and Rest of Europe. The key countries included under Asia Pacific are China, Japan, India, Australia, and Rest of Asia Pacific. In Latin America, Brazil, Argentina, and Rest of Latin America are the key segments whereas in Middle East & Africa, South Africa and Rest of MEA are the key segments covered in the report. APAC accounted for the largest market share during 2017 and is predicted to retain its leadership until the end of 2024 with a growth rate of 4.8%.
The primary reason being augmented economic and industrial development in this region, particularly in China and India is driving the market growth. The global synthetic latex polymer market is concentrated with leading manufacturers such as BASF, Celanese, Dow Chemical, Styrolution, and Synthomer having strong hold on the global market. Other key manufacturers of synthetic latex polymers in the global market include 3M, Akzo Nobel, Alberdingk Boley, AP Resinas, Arkema, Asahi Kasei, Asian Paints, Bayer MaterialScience, Berkshire Hathaway, Chemec, Clariant, Dairen Chemical, Dow Corning, and Eastman Chemical among others.
By End User
The Synthetic Latex Polymer analysis market has been assessed for the years 2022 to 2032.
Based on type, the Synthetic Latex Polymer market is segmented into product, end user, and geography.
Major players operating in the global Synthetic Latex Polymer market include BASF, Celanese, Dow Chemical, Styrolution, and Synthomer having strong hold on the global market. Other key manufacturers of synthetic latex polymers in the global market include 3M, Akzo Nobel, Alberdingk Boley, AP Resinas, Arkema, Asahi Kasei, Asian Paints, Bayer MaterialScience, Berkshire Hathaway, Chemec, Clariant, Dairen Chemical, Dow Corning, and Eastman Chemical among others..
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