Pune, India – According to a recent research report by Fact.MR, the global synthetic latex polymer market is projected to reach a value of US$ 98.8 billion by the end of 2033, expanding at a CAGR of 4.2% from 2023 to 2033.
Synthetic latex polymers encompass materials such as latex, rubber, and fiber, and recent technological advancements in their production are expected to create promising opportunities. Styrene acrylic based synthetic latex polymers, which are widely used in construction and roof coatings, are an example of these developments. Synthetic latex is also utilized in the manufacture of various electronic and architectural products. Additionally, synthetic latex polymers are essential components in the production of adhesives and sealants, paper, carpets, as well as paints and coatings.
Growing utilization of styrene-butadiene latex can be attributed to the increasing demand in various industries such as carpets, paper & paperboard, fibers, and adhesives. The ban on plastic bags worldwide has led to a surge in demand for environmentally friendly packaging solutions like cardboard and paper, which has further boosted the demand for styrene-butadiene latex. Additionally, the construction industry’s rising need for pressure-sensitive mortar additives, paints, coatings, and adhesives has also contributed to the increased utilization of styrene-butadiene latex.
Over the past few years, there has been a noticeable rise in commercial and residential construction activities, leading to increased demand for synthetic latex polymers. The paints and coatings industry is also expected to contribute to the growth of the synthetic latex polymer market, creating profitable opportunities. Furthermore, increased R&D efforts to produce more efficient synthetic latex polymers have also contributed to their increased demand. In the healthcare sector, sales of products such as electrode pads, surgical gloves, stethoscopes, catheters, wraps, and elastic bandages made with synthetic latex polymers are on the rise, further contributing to growth opportunities in the target industry.
Synthetic latex polymers are employed for a wide variety of medical purposes. Synthetic polymers are more flexible and are used significantly to develop light-activated adhesive materials, which help in resealing blood arteries at the time of vascular surgery. Synthetic latex polymers are also utilized in surgical glue to meet different requirements. Synthetic latex polymers come with the features of easy integration with human flesh, which will boost their demand in the healthcare industry.
Key Takeaways from Market Study
The global synthetic latex polymers market is valued at US$ 65.5 billion in 2023.
Sales of synthetic latex polymers are forecasted to increase at a CAGR of 4.2% from 2023 to 2033.
Demand for synthetic latex polymers is predicted to expand at a CAGR of 2.8% through 2033 in Germany.
Sales of synthetic latex polymers are anticipated to advance at a CAGR of 3.5% in Canada.
Demand for styrene acrylic-based synthetic latex polymers is estimated to expand at a CAGR of 4.4%.
Worldwide demand for synthetic latex polymers is expected to reach US$ 98.8 billion by the end of 2033.
Leading suppliers of synthetic latex polymers are Omnova Solutions, Inc., Apcotex Industries Limited, Sumitomo Chemical Co., Ltd., Celanese Corporation, Jubilant Agri and Consumer Products Ltd., Shanxi Sanwei Group Co., Ltd., Trinseo LLC, and Wacker Chemie AG.