Global synthetic latex polymers market forecast at $39.2 billion by 2028

Dublin, Ireland – The global synthetic latex polymers market achieved a size of US$ 31.8 billion in 2022 and is projected to reach US$ 39.2 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 3.4% during the period from 2023 to 2028, according to a recent market report according to Research and Markets.

Synthetic latex is an artificially synthesized compound created in laboratories as an aqueous dispersion of petroleum polymers. It exhibits high-strength, flexibility, and water-resistance properties. These polymers are derived from styrene and butadiene using chemical catalysts obtained through emulsion polymerization. Synthetic latex polymers find applications in various industries, including paints, coatings, textiles, medical equipment, belts, and seals.

The global synthetic latex polymers market is experiencing growth due to several key factors. One of the primary drivers is the burgeoning construction industry. The increasing number of commercial and residential construction activities has led to higher demand for coatings and paints, which, in turn, is contributing to market growth. Synthetic latex is used as a bonding and waterproofing agent with cement, providing water impermeability, adhesion to substrates, and excellent chemical resistance. It is suitable for both interior and exterior applications, making it widely adopted in the construction industry.

Additionally, synthetic latex is used to produce water-based coating emulsions that help prevent corrosion of metallic substrates. It enhances durability and resistance against scratches and scuffs on metallic surfaces. The healthcare industry also relies on synthetic latex to manufacture latex-based surgical gloves, catheters, electrode pads, stethoscopes, elastic bandages, and wraps.

The market is further driven by the introduction of bio-adhesives compatible with latex and compliant with environmental standards. Increasing research and development (R&D) activities are expected to propel market growth.

The competitive landscape of the industry includes key players such as ALBERDINGK BOLEY GmbH, Apcotex Industries Limited, Arkema group, ARLANXEO Group, Asahi Kasei Corporation, BASF SE, 3M Company, Celanese Corporation, Dow Chemical Company, LG Chem, Lubrizol (Berkshire Hathaway), Synthomer plc, Trinseo S.A., and Wacker Chemie AG.