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Styrene Butadiene Latex Market in adhesives and sealants applications to cross 12 million tons by 2024

Author : Ronak Bora | Published Date : 2019-03-06 

Adhesives and sealants, which have widespread applications across major industries including automotive, electricals, building & construction, etc., are also liable to propel the demand for styrene butadiene latex market in the forthcoming years.

Styrene Butadiene Latex Market is forecast to exceed USD 9 billion; according to a new research report. Styrene butadiene latex market is growing at a great pace mainly due to the rising product demand in the paper and adhesives industry. Styrene butadiene latex is a carboxylate admixture created to provide vital adhesion to concrete, mortars, and cement bond coats for improved chemical resistance and bond strength. Paper demand is rapidly growing chiefly due to its applications across packaging, education, and various other sectors. For instance, China is the largest producer and consumer of paper and paper products. It produced over 108 million tons of paper and consumed over 106 million tons of paper and paper products. Therefore, the paper processing industry is projected to boost the styrene butadiene latex market in the near future.

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The volatility in its raw material prices is likely to be a major restraining factor for styrene butadiene latex market over the forecast spell. SB latex raw materials include styrene, butadiene, water, and emulsifiers. Styrene & butadiene are the direct by-products of crude oil, which are scarce and directly impact the latex production. However, continuous R&D activities by the market players for the unrestricted production of SB latex will have a positive impact on the styrene butadiene latex market over the forecast span.

Based on the butadiene content, styrene butadiene latex market for the medium segment is likely to grow at a healthy CAGR in the forthcoming years. It is a soft and self-crosslinking type with low formaldehyde, excellent waterproofing properties, dry cleaning, heat, and light resistance properties, which make it usable for wide-ranging applications including paper processing of impregnated and special papers.

According to applications, styrene butadiene latex market for adhesives was valued at over USD 280 million in 2016. The product's use across various end-user industries including automobile, construction, electricals, paper & fiber processing, etc., are likely to make a noteworthy contribution to the overall business by 2024. Low and high butadiene content SB latex is primarily used in the production of adhesives and used across aforementioned industries, which will help in attaining substantial gains over the forecast period.

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Based on region, styrene butadiene latex market in LATAM is experiencing the greatest demand surge and is anticipated to grow at a CAGR of about 5% in the near future. Rising demand for textile in the region is attributed to the growing population and rising socio-economic factors, which will help propel product demand as it is used in fiber processing. Furthermore, the growing construction industry, which is attributed to rapid industrialization & urbanization will surge the demand for adhesives that will help in attaining substantial gains to styrene butadiene latex market over the projected timespan. Additionally, the rising demand for paper items, mainly used in the packaging industry in Brazil and Mexico, will further propel product demand, positively impacting the business over the forecast spell.

Some prominent styrene butadiene latex market share contributors are The Dow Chemical, Trinseo, Asahi Kasei Corporation, Styron Europe, LG Chem, Synthetic Latex Pvt. Ltd., and Synthomer Plc. Most of these players have been making investments to upscale their production capacities to meet the rising product demand, which will help in attaining the competitive advantage in the industry. For instance, Styron bought The Dow Chemicals' SB latex's division in December 2012 to become the global leader in the styrene butadiene latex market.

Browse key industry insights spread across 142 pages with 135 market data tables & 23 figures & charts from the report, “Styrene Butadiene Latex Market” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/styrene-butadiene-sb-latex-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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