(MENAFN - GetNews) Growing Public Interest Towards Building and Construction Will Further Enhance the Overall Demand for Latex Powder Market
Latex Powder Market is forecast to reach $1.5 billion by 2026, after growing at a CAGR of 1.4% during 2021-2026. With rise in construction sector, the Latex Powder market is witnessing an increase in demand. Growing public interest towards building and construction will further enhance the overall market demand for Latex Powder during the forecast period.
Latex Powder Market Segment Analysis - By Type
Vinyl acetate-ethylene copolymer segment held the largest share in the Latex Powder market. Vinyl acetate-ethylene copolymer emulsion (VAE Emulsion) is a copolymer of vinyl acetate and ethylene. It has been developed as a powerful base adhesive, offering the following unique characteristics: strong initial adhesion, high wet tack, good creep resistance, water/alkali-resistance, improved thickening response, and safe operation. VAEs are water-based emulsions, also sold in powder form (construction adhesives). VAEs offer unique moisture resistance, flexibility, improved tack and adhesion in low temperature and wet conditions. They adhere well to non-porous surfaces such as vinyl, aluminum and others. VAE copolymers find use in packaging adhesives and laminating applications.
Latex Powder Market Segment Analysis - By Application
Latex Powder sector has been the primary market for Latex Powder. Tile adhesive is ready-mixed and specially formulated from OPC, selected fine sand, and additives to improve its essential properties for laying tiles. High performance tile adhesive can be used to lay tiles on existing tiles, on polished cement, on wooden substrates (with the use of primer), or on other special substrates. Floor tile, that tile needs to thoroughly stick to its base surface. Demands placed on tile adhesive are both extensive and steep. Tile adhesive is expected to hold the tile in place not just for years but for decades—without fail. It must be easy to work with, and it must adequately fill in gaps between the tile and the substrate.
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Latex Powder Market Segment Analysis - Geography
APAC dominated the Latex Powder market with a share of more than xx%, followed by North America and Europe. Construction being the major application of latex rubber powder, there is a direct correlation between the growth in construction industry and latex rubber industry. Asia Pacific has witnessed robust economic growth in the past decade and this trend is expected to continue in the next few years. This rise in economic activity has led to growth in construction industry in this region, as well as in overall living standards. With the recovery of the global economic scenario, construction activities are expected to increase rapidly at a global scale. This growth in construction activities is anticipated to trigger the demand for latex rubber used for construction activities.
Latex Powder Market Drivers
Implementation of governments Regulations
Implementation of stringent government regulations related to Construction or infrastructure will increase the market demand for latex powder in the near future. In India government launches Pradhan Mantri Awas Yojana (Urban) Mission launched on 25th June 2015 which intends to provide housing for all in urban areas by year 2022. The Mission provides Central Assistance to the implementing agencies through States/Union Territories (UTs) and Central Nodal Agencies (CNAs) for providing houses to all eligible families/ beneficiaries against the validated demand for houses for about 1.12 cr. As per PMAY(U) guidelines, the size of a house for Economically Weaker Section (EWS) could be upto 30 sq. mt. carpet area, however States/UTs have the flexibility to enhance the size of houses in consultation and approval of the Ministry.
Latex Powder Market Challenges
Impact of COVID-19
The rapid spread of coronavirus has had a major impact on global markets as, major economies of the world are completely lockdown due to this pandemic. Because of this major lockdown, suddenly all the consumer market has started to show zero interest towards purchasing any goods. One of the major difficulties, market is facing are the shutdown of all kinds of transportation. Global crisis for all sectors including shipping, which was hit by slowing demand in goods' production and exports had slowdown the market for latex powder.
Stringent Governments implementation
The FDA (Food and Drug Administration) has the authority to ban a medical device intended for human use if it finds, on the basis of all available data and information, that the device presents a substantial deception to patients or users about the benefits of the device, or an unreasonable and substantial risk of illness or injury, which cannot be corrected by a change in the labeling. The FDA very rarely acts on this authority. Until 2016, the FDA banned only one other medical device, prosthetic hair fibers. The FDA found there was no public health benefit to this device. This device presented a substantial deception to patients or users about the benefits of the device.
Technology launches, acquisitions and R & D activities are key strategies adopted by players in the Latex Powder market. In 2020, the market of Latex Powder has been consolidated by the top five players accounting for xx% of the share. Major players in the Latex Powder Market are The DOW Chemical Company, Momentive Specialty Chemicals, Rogers-Ceramics, Akzo Nobel Chemicals AG, Henan Tiansheng Chemical, among others.
In November 2015, The DOW chemical company acquires the united states company DuPont of value 62.11 billion USD
Asia-Pacific dominates the Latex Powder market owing to increasing demand from applications such as concrete repair mortars, Ceramic Tile Adhesives and many more.
Whereas the growing construction sector, is likely to aid in the market growth of Latex Powder.
COVID-19 pandemic will create hurdles for the Latex Powder market.
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B. Styrene Butadiene Latex Market
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