New York, NY -- (SBWIRE) -- 12/18/2020 -- The styrene butadiene latex market is projected to grow at a rate of 3% from 2020 and reach a value of USD 9.68 Billion by the year 2027. Styrene butadiene latex has widespread applications in formulations as a coating in paper products, including magazines, catalogues, flyers, and paperboard products to get good printability, high gloss, and resistance to oil and water. It also acts as a raw material for the glass fibre, carpet processing, adhesives, and many other industries.
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Market Drivers
The market growth mainly owes to the huge amount of demand growth for carpet and paper. The waterproof properties of styrene butadiene latex is a significant factor in driving the market growth during the forecast period. The extra smooth and shiny appearance imparted by the use of styrene-butadiene is the reason for its increasing use in the manufacture of paper for magazines, flyers, catalogues, etc. The recent pandemic has induced greater use of gloves by community workers to prevent contamination from the disease. Styrene butadiene latex, primarily used as a raw material for making gloves, is expected to face a rise in demand due to the pandemic.
Further key findings from the report suggest
Cationic emulsion polymers impart industrial coatings products scrub resistance, block resistance, alkali resistance, scuff resistance, enhanced flow, and leveling, among others.
By butadiene content, medium butadiene content styrene-butadiene latex held a substantial market share in the year 2019.
By distribution channel, the online distribution channel is projected to grow at a faster rate of 6.3% in the period 2020-2027, as this mode of distribution has the advantage of providing a broader exposure to the product produced by the manufacturers, especially with the proliferation of smart devices and internet connectivity.
By application, fiber & carpet processing contributed to the second largest market share in 2019 and is expected to grow at a rate of 3.1% in the forecast period. Styrene-butadiene latex is used as the back coating material in textiles such as tufted carpets. The back coating gives water resistance and keeps the tufts in place, which enhances the stability and decreases fraying at the edge.
Key participants include BASF SE, Asahi Kasei Corporation, LG Chem, DowDuPont, Trinseo, Synthomer PLC, Omnova Solutions PLC, Zeon Corporation, Lanxess, and NANTEX Industry Co. Ltd., among others.
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For the purpose of this report, Reports and Data have segmented the global synthetic butadiene latex market on the basis of emulsion type, butadiene content, distribution channel, application, and region:
Emulsion Type Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027)
Cationic
Anionic
Butadiene Content Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027)
Low
Medium
High
Distribution Channel Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027)
Online
Offline
Application Channel Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027)
Paper Processing
Fiber & Carpet Processing
Glass Fiber Processing
Adhesives
Others
Regional Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027)
North America
Europe
Asia Pacific
Latin America
MEA
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Regional Outlook
The Asia Pacific region has been the highest shareholder of the market in 2019 and is forecasted to have the highest growth rate during the forecast period. The market growth in the region attributes to the growing paper industry and rising demand for carpets in the region. The North American market, led by the U.S., is forecast to grow at a rate of 2.4% during the forecast period.
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