The Infinium Global Research analyzes the Synthetic Latex Polymers Market over the period of 2020 to 2026. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in the global synthetic latex polymers market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of synthetic latex polymers. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the synthetic latex polymers market during the period. The global synthetic latex polymers market is projected to grow at a CAGR of 4.1% over the forecast period of 2020-2026.
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Increasing Demand for Synthetic Latex Polymers for Paints and Coatings is Driving Market Growth
The increasing demand for synthetic latex polymers for paints and coatings is driving market growth. Latex based paints and coatings have several advantages over oil-based paints and coatings including convenient usage, quick-drying, low or near zero VOCs, and easy to clean-up and re-coat. These advantages of synthetic latex polymers are anticipated to boost its adoption for paints and coatings applications. Moreover, the growing construction and automotive sectors are supporting the growth of the market. Construction and automotive industries widely use synthetic latex polymers for various applications including paints, coatings, adhesives, sealants, carpets, and nonwoven textiles.
Thus, the growing construction and automotive industries augment the growth of the synthetic latex polymers market as they are the leading end-use industries. However, as synthetic latex polymers are produced by combining monomers derived from refined sources of hydrocarbons such as crude petroleum, and natural gas, the fluctuating prices of crude oil are expected to hamper the market growth for synthetic latex polymers. Nevertheless, the growing demand for electrical and electronic goods from the developing regions is anticipated to boost market growth in the future. The majority of electrical and electronic products use synthetic latex for applications including adhesives and sealants. Thus, the growing production and sale of electrical and electronic goods in developing economies are anticipated to augment the market growth in the future.
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Global Synthetic Latex Polymer Market is Dominated By the Asia Pacific Region
In terms of region, the global synthetic latex polymer market is dominated by the Asia Pacific region. A large population of consumers along with improving economic conditions is augmenting the market growth in the region. Moreover, the higher sale of automobiles and electronic goods in the region augments the demand for synthetic latex polymers in the Asia Pacific. Furthermore, the growing urban population in the region is further supporting the market growth for synthetic latex polymers in the Asia Pacific.
On the other hand, the North American region accounted for the second-largest revenue in the global synthetic latex polymer market. The growing construction industry in North America is anticipated to boost the demand for synthetic latex polymers for paint, coating, construction, carpets, and nonwovens applications. Additionally, the increasing production and export of electrical and electronics goods in North America are further augmenting the growth of the market.
Synthetic Latex Polymers Market: Segmentation
The report on the global synthetic latex polymers market covers segments such as product and application. On the basis of product, the sub-markets include acrylics, PU (polyurethane), vinyl acetate copolymers, SB latex, polyvinyl alcohol, and others. On the basis of application, the sub-markets include paint and coating, adhesives and sealants, paper, construction, glove dipping, carpets and nonwovens, textiles, and others.
Synthetic Latex Polymers Market: Competitive Analysis
The report provides profiles of the companies in the market such as Arkema Group, Apcotex Industries Ltd, Bangkok Synthetics Co., Ltd., Celanese Corporation, Synthomer PLC, OMNOVA Solutions Inc., Lion Elastomers, LLC, Shanghai Baolijia Chemical Co., Ltd., Shanxi Sanwei Group Co, Ltd., and Sumitomo Chemical Co., Ltd.
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