The global styrene butadiene latex market is majorly concentrated in nature. According to a report by Transparency Market Research, the market is dominated by few players. The players in the market are engaging in increasing their production capacity to meet the demands of the market.
Some of the major players operating in the global styrene butadiene latex market are Trinseo S.A., Dow Chemical Company, Synthomer Plc, BASF S.E., NANTEX Industry Co., Ltd, OMNOVA Solutions Inc., Synthetic Latex Company (Pty) Ltd.
The global styrene butadiene latex market is anticipated to grow at a rising CAGR of 3.3% during the forecast period of 2015 to 2023. The global market was worth US$6,809.5 mn during 2014 and is expected to rise at a valuation of US$9,120.3 mn by the end of 2023. The global styrene butadiene latex by segment is led by application. The mortar additives are leading the application segment and is expected to show promising growth during the forecast period. The global styrene butadiene latex market is spread across regions, among these, Asia pacific is leading the market as it held 40% of the total share during 2014 owing to countries such as China and Japan. This region is expected to rise at a CAGR of 3.6% during the forecast period of 2015 to 2023.
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The global styrene butadiene latex market is anticipated to rise in the market due to rise in demand from paper coatings market. Styrene butadiene latex is dominantly used for binding coated papers. It provides enhanced and high coating speed along with binding power that results in water resistance, opacity, brightness, high gloss level, and smoothness. Styrene butadiene latex provide these results at a much lower cost compared to other alternatives. Styrene butadiene latex is used in catalogs, advertising flyers, label stock, annual reports, and magazines.
The styrene butadiene latex find applications in various other industries such as mortar additives, adhesives, coatings & paints, glass fiber processing, fiber processing, and paper processing. It is also used extensively in carpet industry for manufacturing tufted carpet. The styrene butadiene latex finds application in adhesive that is used in electrical, automobile, and construction industry. These industries are consuming styrene butadiene latex majorly thus, increasing its demand in the market.
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The global styrene butadiene latex market is expected to face some restrains in market growth during the forecast period. Constant fluctuating prices of raw materials is one of the major challenges for the market growth. This can result in instability of the market. The raw materials used in styrene butadiene latex industry are water, emulsifier, styrene, and butadiene. Butadiene and styrene are derived from crude oil. Thus, changing prices of crude oil also affects the styrene butadiene market. All other related industry that styrene butadiene latex finds application in also suffers due to this reason.
The information in this review is based on the findings of a report by Transparency Market Research, titled “Styrene Butadiene Latex Market for Paper Processing, Fiber Processing, Glass Fiber Processing, Paints & Coatings, Adhesives, Mortar Additives and Other Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023.”
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