The synthetic latex polymers market refers to the industry that produces and distributes polymers made from synthetic materials such as styrene-butadiene, acrylics, vinyl acetate, and others. Synthetic latex polymers are materials that are created through the polymerization of synthetic monomers, such as styrene-butadiene, acrylics, and vinyl acetate, among others. These polymers are used in a wide range of applications across various industries, including adhesives, coatings, paints, paper, textiles, and more.
The driving factor of the market is attributed to the growing demand for eco-friendly and sustainable products. The product is preferred over traditional solvent-based polymers due to their lower environmental impact, as they are water-based and emit fewer volatile organic compounds (VOCs). This trend is expected to continue, as governments and regulatory bodies around the world are increasingly implementing regulations to reduce VOC emissions.
Furthermore, the growth of the market is also fueled by the rise in disposable incomes, changing lifestyles, and increasing consumer demand for quality products that are durable, long-lasting, and cost-effective. The market is also driven by advancements in technology, increasing R&D investments, and the development of new and innovative products by key players in the industry.
The synthetic latex polymers market is broadly segmented into form, product type, and application. The form segment is further categorized into liquid, powder and granules. The product type segment is further sub-divided into styrene acrylic, styrene butadiene, acrylic, polyvinyl acetate, vinyl acetate ethylene, vinyl acetate copolymer, and others. The application segment is further categorized into paper & paperboard, adhesives & sealants, paints & coatings, carpets, nonwovens and others.
Some of the key players operating in the market include Apcotex Industries Limited, Arkema Group, BASF SE, Dow, Jubilant, KUMHO PETROCHEMICAL, LG Chem, Lion Elastomers, SIBUR International GmbH, Zeon Europe GmbH, The Lubrizol Corporation, Sumitomo chemical co. ltd, and Celanese Corporation. Prominent players involved in the marketplace are continuously focusing on business expansion activities through collaborations and partnerships across the value chain. For instance, in August 2021, Hextar Global Bhd announced that it had acquired a 70% stake in TufBond Technologies Sdn Bhd, a Malaysian company engaged in the manufacturing of adhesive and sealant products. The acquisition of TufBond Technologies Sdn Bhd allows Hextar Global Bhd to expand its presence in the synthetic latex polymers market, which is a growing industry in Malaysia and Southeast Asia.
Overall, the market is expected to see significant growth in the coming years by growing demand for packaging materials and the spreading utilization of synthetic latex polymers in the automotive industry.
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