(MENAFN- America News Hour) Key Companies Covered in the Construction Equipment Market Research are Wacker Chemie, Arkema, Synthomer Plc, Celanese Corporation, Omnova Solutions, Dairen Chemical, Arlanxeo, Kalpana Polymers, and other key market players.
The global latex binders market size is projected to grow from USD 6.6 billion in 2022 to USD 9.0 billion by 2031, at a CAGR of 6.5% between 2022 and 2031.
The increasing demand from technical textiles, increase in demand for protective coatings for roofs and floors in industrial and commercial facilities, increasing demand from emerging economies, and rising per capita consumption of paints is driving the market for latex binders. However, volatility in raw material prices is expected to restrain this market. Increased demand for water-based acrylic latex binders in emerging markets, increase in industrial and commercial construction and increase in population and rapid urbanization leading to large number of construction projects are expected to offer significant growth opportunities to manufacturers of latex binders. The major challenges faced by players are the manufacture of low-VOC latex binders and rise in demand for bio-based latex binders in Europe.
In terms of value, the styrene-butadiene segment is projected to account for the largest share of the , by type, during the forecast period.
Styrene-butadiene is projected to be the largest type segment in latex binders market. Styrene-butadiene latex is classified into styrene-butadiene rubber and styrene-butadiene copolymer. These binders have good handling property, ease of application, and high bonding strength. Low-cost medium is used to formulate latex, making latex comparatively inexpensive. Latex is widely used in applications such as construction additives, paints & coating, adhesive & sealant, paper & paperboard, textile & carpet, and sports surfaces.
Paints & coating is projected to register the highest CAGR during the forecast period.
Paints & coating is the leading segment of the latex binders market. The latex binder is used to manufacture polymer emulsions for architectural paints. Latex polymer emulsions are majorly used to decorate and protect new constructions as well as to maintain existing structures including residential homes and apartments, public buildings, and plants & factories. When used for the end-use industries mentioned above, they are referred to as architectural or decorative paints & coating. Another use of the latex binder in paints & coating is that of decorating/protecting industrial products and construction spaces. Other miscellaneous end uses include traffic paints, vehicle refinishing, high-performance coatings for industrial plants and equipment, and the protection of marine structures and vessels. The latex binder is used for the manufacture of these emulsions for paints & coating.
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The APAC region leads the latex binders market in terms of value.
APAC is the fastest-growing region for latex binders market. The growth in demand for latex binders in the region can be largely attributed to factors such as high population, increasing industrial growth, and stringent environmental norms. Moreover, the rising number of end-use industries in the region is also leading to innovations and developments in the field of latex binders, thereby fueling the growth of the APAC latex binders market.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the latex binders market, and information was gathered from secondary research to determine and verify the market size of several segments.
By Company Type: Tier 1 – 40%, Tier 2 – 35%, and Tier 3 – 25% By Designation: C Level Executives– 35%, Directors – 40%, and Others – 25% By Region: APAC – 40%, Europe – 10%, North America – 25%, the Middle East & Africa – 15%, and South America- 10%
Major players operating in the global latex binders market include Trinseo (US), BASF SE (Germany), Wacker Chemie (Germany), Arkema (France), Synthomer Plc (UK), Celanese Corporation (US), Omnova Solutions (US), Dairen Chemical (Taiwan), Arlanxeo (Netherlands), Kalpana Polymers (India), Shandong Hearst Building Material (China), Visen Industries (India), Jesons (India), Acquos (Australia), Organik Kimya (Turkey), Puyang Yintai Industrial Trading (China), Bosson Union Tech (China), ADPL Group (India), Sakshi Chem Sciences (India), Apcotex (India), Bangkok Synthetics (Bangkok), Goodyear Chemical (US), Jubilant Agri & Consumer Products (India), Kumho Petrochemical (South Korea), Lion Elastomers (US), Lubrizol (US), Shanghai Baolijia (China), Shanxi Sanwei (China), Sibur (Russia), and Sumitomo Chemical (Japan).
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Research Coverage:
This report provides detailed segmentation of the latex binders market based on type and end-use industry. Based on type, the latex binders market has been segmented into styrene acrylic, styrene-butadiene, and others. Based on the end-use industry, the latex binders market has been segmented into paints & coating, adhesive & sealant, paper & paperboard, textile & carpet, construction & fiber bonding materials, and others.
Key Benefits of Buying the Report
From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market share ranking of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the latex binders market; high growth regions; and market drivers, restraints, opportunities, and challenges.
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