Transparency Market Research has published a new report titled “Styrene Butadiene Latex Market by Applications (Paper Processing, Fiber Processing, Glass Fiber Processing, Paints & Coatings, Adhesives, and Mortar Additives): Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 – 2023.” According to the report, the global styrene butadiene latex market was valued at US$ 6,809.5 Mn in 2014 and is likely to reach US$ 9,120.3 Mn in 2023, expanding at a CAGR of 3.3% between 2015 and 2023.
Styrene butadiene latex is a downstream derivative of crude oil, containing styrene and butadiene. The composition of styrene butadiene latex varies depending on the proportion of styrene and butadiene content. The higher content of styrene enables styrene butadiene latex`s plasticity. Styrene butadiene latex is used in applications such as fiber processing, paper processing, glass fiber processing, adhesives, paints & coatings, and mortar additives. Styrene butadiene latex is also used as binder and for surface treatment in glass fiber processing applications. Furthermore, styrene butadiene latex is used in emulsion polymer for paints & coatings applications. The inclusion of styrene butadiene latex in paints & coating provides a classy look to walls, wood, etc. Paper processing application holds the major share of the market followed by fiber processing.
Market dynamics of styrene butadiene latex are highly region-oriented and exhibit distinct trends in different regions. In terms of demand, Asia Pacific accounted for major share of the global styrene butadiene latex market in 2014. Currently, China dominates the styrene butadiene latex market in Asia Pacific. In terms of volume, Asia Pacific held more than 40% share of the global styrene butadiene latex market in 2014. Europe followed Asia Pacific, while North America constituted the third largest share of the global styrene butadiene latex market in 2014. Both Europe and North America are likely to experience sluggish growth during the forecast period owing to the declining demand for coated paper in these regions. This, in turn, is estimated to hamper the styrene butadiene latex market. Despite the slowdown of the coated paper industry, the carpet industry is expected to grow and drive demand for styrene butadiene latex in North America. Various large companies operating in the coated paper market in North America were compelled to shut down their plants due to decreasing demand for coated paper. Economic instability coupled with declining demand for coated paper in Europe is expected to negatively affect the styrene butadiene latex market in the region. Germany and Finland are the largest producers of coated paper in Europe. The demand for styrene butadiene latex in Latin America and Middle East & Africa is likely to rise during the forecast period. In Latin America and Middle East & Africa, the usage of carpets for both residential and commercial purposes has increased over the last few years. This, in turn, is expected to boost the demand for styrene butadiene latex over the forecast period.
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Some major players of styrene butadiene latex are strengthening their production capacity to tap the potential demand that would arise due to growth of coated paper in the Asia Pacific market. Major companies operating in the market include Dow Chemical Company, Synthomer Plc, BASF S.E., Trinseo S.A., and LG Chem Ltd.
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