Synthetic Latex Polymers Market

Synthetic Latex Polymers Market Outlook (2023 to 2033)

The global synthetic latex polymers market is estimated at US$ 65.5 billion in 2023. Sales of synthetic latex polymers are projected to accelerate at a CAGR of 4.2% to top US$ 98.8 billion by 2033.

Laboratories produce synthetic latex polymers, which offer excellent water resistance, high performance, high strength, and flexibility, making them ideal for various industrial applications. These polymers have properties similar to natural polymers and are available at affordable prices when compared to similar alternatives.

Due to their unique properties, sales of synthetic latex polymers are expected to increase in the next decade as they continue to be widely used across various industries. The building and construction sector, in particular, is anticipated to present substantial opportunities for styrene acrylic, as it is increasingly being utilized in this industry.

• Demand for styrene acrylic is estimated to rise at a CAGR of 4.4% through 2033 and reach a valuation of US$ 22.5 billion by the end of 2033.

Synthetic latex polymers are commonly used in various construction products such as adhesives, sealants, and paints & coatings to improve their elastomeric properties. Furthermore, these polymers are utilized to prevent cracking. Additionally, several other factors, such as government policies aimed at the residential sector and the growing demand for larger commercial spaces, are expected to generate lucrative opportunities for polymer manufacturers in the construction industry.

Synthetic latex is widely used as a bonding agent with cement to provide adhesion to substrates and as a waterproofing agent due to its excellent chemical resistance and water impermeability. This mixture is suitable for both interior and exterior applications, further contributing to the widespread adoption of synthetic latex polymers in the construction industry.

The healthcare sector is increasingly utilizing synthetic latex polymers to produce various medical devices such as catheters, elastic bandages, surgical gloves, stethoscopes, and electrode pads. These polymers offer unique properties that enhance the quality and durability of these devices.

Furthermore, synthetic latex polymers are also utilized in the manufacture of water-based coating emulsions that serve as a coating solution to prevent the corrosion of metallic substrates. This property of synthetic latex polymers improves the resistance and durability of metallic surfaces against scuffs and scratches.

Fact.MR, a market research and competitive intelligence provider, offers a comprehensive evaluation of the synthetic latex polymers market in terms of drivers, trends, and segments in its recently published research report.

Report Attributes	Details
Market Size in 2023	US$ 65.5 Billion
Forecasted Market Value (2033)	US$ 98.8 Billion
Global Market Growth Rate (2023 to 2033)	4.2% CAGR
Canada Market Growth Rate (2023 to 2033)	3.5% CAGR
Germany Market Growth Rate (2023 to 2033)	2.8% CAGR
Forecasted Growth Rate of Styrene Acrylic (2023 to 2033)	4.4% CAGR
Key Companies Profiled	Apcotex Industries Limited Celanese Corporation Jubilant Agri and Consumer Products Ltd. Omnova Solutions, Inc. Shanxi Sanwei Group Co., Ltd. Sumitomo Chemical Co., Ltd. Trinseo LLC Wacker Chemie AG

Why are Synthetic Latex Polymers Gaining Popularity Around the World?

“Consumption of Styrene Butadiene Increasing in Paper & Paperboard Industry”

The paper industry often utilizes a latex formulation consisting of styrene and butadiene as a coating for items such as flyers, catalogs, and magazines. This coating provides a glossy finish, improved print quality, and protection against water and oil. As the demand for synthetic latex polymers in the paper and stationery sector increases and the paper packaging industry expands, new opportunities will emerge in this area.

For instance:

• Data from the Confederation of European Paper Industries (CEPI) indicates that the production of paper and paperboard in Europe amounted to approximately 21.4 million tons in Germany alone in 2019. This represents more than 25.1% of the total paper and paperboard production in Europe.

“Increasing Construction Activities Contributing to High Sales of Synthetic Latex Polymers”

Various construction products, such as adhesives, sealants, and paints & coatings, incorporate synthetic latex polymers to prevent cracking and improve binding properties. These polymers are also utilized to enhance the elastomer properties of materials. The rising number of construction activities can be attributed to several factors, including government and related organizations' supportive policies for the residential sector and the need for more extensive commercial spaces.

For instance:

• According to data from the United States Census Bureau, in 2020, over 1,380 thousand units of residential construction projects were initiated in the United States. The count increased by 16.8% to approximately 1,610 thousand units in 2021.

Increase in construction activities is generating demand for various construction products, such as adhesives, sealants, and paints & coatings, which is expected to drive the consumption of synthetic latex polymers.

What are the Factors Limiting the Sales of Synthetic Polymers?

“Increase in Crude Oil Prices Restricting Sales of Synthetic Polymers”

Certain chemical catalysts are used to collect synthetic latex polymers from emulsion polymers, which are based on crude oil components such as styrene and butadiene. The cost of raw materials used in the production of synthetic latex polymers is directly affected by the increasing prices of crude oil, leading to higher costs of the products.

For instance:

• Zeon Corp., in June 2022, announced an increase in the prices of synthetic rubber and synthetic latex products in Tokyo.

Which Region is Generating High Sales of Synthetic Latex Polymers?

“High Production of Automobiles in Asia Pacific Fueling Demand for Synthetic Latex Polymers”

Asia Pacific accounted for 48% of the global synthetic latex polymers market in 2022. The significant expansion of the building & construction and automotive industries may boost the demand for synthetic latex polymers in this region. The growth of the automotive industry is being propelled by critical factors such as the rapid pace of industrialization and an increase in per capita expenditure.

For instance:

• As per data provided by the OICA (Organisation Internationale des Constructeurs d’Automobiles), around 4,668,330 units of light commercial vehicles were produced in Asia Pacific in 2020. In the year 2021, this count reached 5,099,260 units, with a significant increase of 9% compared to 2020.

All in all, increasing production of automobiles in the Asia Pacific region is expected to fuel the demand for automotive parts, which will contribute to increased sales of synthetic latex polymers.

Country-wise Insights

What are the Growth Prospects for Synthetic Latex Polymer Suppliers in Japan?

“Expansion of Chemical and Industrial Processing Fueling Demand for Synthetic Latex Polymers”

Japan's market is anticipated to progress at a sluggish CAGR of 2.3% through 2033. Significant growth in the chemical and industrial processing industry is estimated to propel the demand for synthetic latex polymers in Japan.

How is Demand for Synthetic Latex Polymers Shaping Up in the United States?

“Increasing Construction of Commercial Structures Pushing Demand for Synthetic Latex Polymers”

The United States market was valued at US$ 172 million in 2022. Increasing construction of commercial structures and significant production of paints & coatings in the United States are boosting sales of synthetic latex polymers.

Why is Demand for Synthetic Latex Polymers Growing in Germany?

“Rising Production of Paper and Paperboard Driving Demand for Synthetic Latex Polymers”

Germany market is projected to advance at a CAGR of 2.8% from 2023 to 2033. Increasing production of paper and paperboards in Germany is estimated to contribute significantly to the demand for synthetic latex polymers in the country.

Category-wise Insights

Which Type of Synthetic Latex Polymer Will Bring in Higher Revenues for Industry Players?

“Styrene Acrylic-based Polymers Accounting for High Demand”

Sales of styrene acrylic-based synthetic latex polymers are estimated to progress at a CAGR of 4.4% from 2023 to 2033 and reach a valuation of US$ 22.5 billion by the end of 2033.

Which Industry Widely Uses Synthetic Latex Polymers?

“Paints & Coatings Sector Generating High Demand for Synthetic Latex Polymers”

Synthetic latex polymers are employed in various applications such as paints and coatings, processed paper, adhesives and sealants, packaging, non-woven fabrics, automotive parts, and rubber gloves. Demand for synthetic latex polymers from the paints & coatings sector is estimated to progress at a CAGR of 4.6% through 2033 and is predicted to hold a substantial share of the revenue.

Synthetic latex polymers possess important characteristics such as robust self-adhesion, high cohesive strength, high molecular weight, and high gel content. These attributes enable coatings to dry quickly and to be easily applied, making them a desirable choice for end users.

Another beneficial feature of synthetic latex polymers is the lack of gas emissions during the drying process, which can have a significant impact on the overall duration of the painting process.

Competitive Landscape

To maintain product standards and pursue profitable growth opportunities in the target industry, some major suppliers of synthetic latex polymer are increasing their expenditures and focusing on strengthening their supply chain management systems. This is one of the notable initiatives being undertaken by these suppliers.

Mergers & acquisitions will be increasingly adopted by key players to generate growth opportunities in the coming decade.

For instance:

• Hextar Global Berhad, a Malaysian-based supplier of synthetic latex polymers, acquired TufBond Technologies, another provider of synthetic latex polymers, in November 2021. This acquisition is expected to help Hextar broaden its reach and expand its market presence.

Key companies in the synthetic latex polymers market include Apcotex Industries Limited, Celanese Corporation, Jubilant Agri and Consumer Products Ltd., Omnova Solutions, Inc., Shanxi Sanwei Group Co., Ltd., Sumitomo Chemical Co., Ltd., Trinseo LLC, and Wacker Chemie AG.

Synthetic Latex Polymers Industry Segmentation

• By Type :

  • Styrene Acrylic
  • Styrene Butadiene
  • Acrylic
  • Vinyl Acetate Copolymer
  • Polyvinyl Acetate
  • Vinyl Acetate Ethylene
  • Others

• By Application:

  • Processed Paper
  • Adhesives & Sealants
  • Paints & Coatings
  • Packaging
  • Rubber Gloves
  • Automotive Parts
  • Non-woven Fabrics
  • Others

• By Region :

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa