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Styrene Butadiene Latex Market share research by applications and regions from 2017 to 2024

Author : Ronak Bora | Published Date : 2019-05-06 

As per the report by Global Market Insights, Inc., “Worldwide Styrene Butadiene Latex Market was valued USD 7 billion in 2017 and will surpass a revenue collection of USD 9 billion by 2024 with an annual growth rate of 3.5% over 2017 to 2024.”

With a recorded market share of USD 7 billion in 2016, the growth map of styrene butadiene latex market, as per industry analysts, is claimed to be steady over the coming seven years. One of the chief trends that has played its card in proliferating the revenue graph of SB latex industry in the recent years is the expansion in the paper industry. The sector being one of the key end-users of SB latex market has overtly generated a substantial product demand over the years. Reports affirm the total paper and paperboard production to have witnessed a significant rise in the demand of over 370 million tons in 2009 to over 407.6 million tons in 2015. In this backdrop, SB latex is gaining increasing consideration as an emulsion polymer with excellent aging stability and abrasion resistance properties. Subject to these characteristics, SB latex is also witnessing tremendous demand from the adhesives, sealants, and paint industry.

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Elaborating further on the scope of styrene butadiene latex market in the pulp & paper industry, the product is extensively used in paper processing as it provides opacity, image quality, gloss, brightness, and printability. Leading paper & carpet industry manufacturers are widely using SB latex as a binder for carpet backing, wood lamination, and paper coating applications. Given the massive demand for SB latex in coated paper market for printing and packaging application, analysts predict this trend to have a major impact on the revenue streams of styrene butadiene latex industry. Applications of coated paper that runs a gamut from printing magazines, catalogues, advertising flyers, packaging of containers for food and cosmetics are undeniably gaining considerable traction of late, which according to experts is attributable to the substantial growth of styrene butadiene latex market.

While the growth of paper industry spans across myriad regions, reports claim China, the United States, and Japan to rank in top three largest paper manufacturing countries. According to estimates, these three regions accounted for half of the world’s total paper production. Among these, China stood as the largest producer and consumer of paper, amounting to 100 million tons in 2016. In essence, it wouldn’t be wrong to consider the tremendous paper production and consumption rate from the aforementioned regions to have a pronounced impact on the regional trends of the styrene butadiene latex market.

Latin America is likely to witness prominent CAGR during the forecast timespan for styrene butadiene latex market and held a prominent share in 2016. Latin America is a growing market for paper and textile products, increasing per capita income of consumers in Brazil and Mexico, have has led to surged demand for both paper and textile. This positive trend will subsequently drive the product demand in the region over the next few years.

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Asia Pacific, led by China, will expand at prominent growth rate over the forecast timeframe. Asia Pacific is a leading carpet and paper producer and an enormous market for the paper based and textile & garments industry. Both, carpet and paper industries in Asia Pacific are growing at prominent rates, which clearly indicates new growth avenues for product demand in the next few years.

The styrene butadiene latex market is fragmented with many companies holding for the majority of the market share while Trinseo and BASF SE have emerged as market leaders. Key industry players include Trinseo, Dow Chemical Company, Styron Europe GmbH, Asahi Kasei Chemical Corporation. Other prominent styrene butadiene latex manufacturers include LG Chem, Mallard Creek Polymers, Synthomer Plc and Synthetic Latex Company (Pty) Ltd.

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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