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Synthetic Latex Polymers Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Synthetic Latex Polymers Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, October 2, 2024 /EINPresswire / -- The synthetic latex polymers market has experienced robust growth in recent years, expanding from $32.07 billion in 2023 to $33.76 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to industrialization and economic growth, expansion of construction and infrastructure activities, growing awareness of environmental impact, rising demand in the automotive sector, increasing use in healthcare and medical devices.
What Is The Estimated Market Size Of The Global Synthetic Latex Polymers Market And Its Annual Growth Rate?
The synthetic latex polymers market is projected to continue its strong growth, reaching $41.62 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to growing emphasis on bio-based polymers, expanding applications in water-based formulations, increased demand for customized formulations, rising importance of lightweight materials, global focus on green and sustainable practices, technological integration for enhanced product properties.
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Growth Driver Of The Synthetic Latex Polymers Market
An increase in the automotive industry is expected to propel the growth of the synthetic latex polymers market going forward. The automotive industry refers to the collection of companies, organizations, and activities involved in the design, development, production, marketing, and selling of motor vehicles. Synthetic latex polymers play a vital role in the growth of the automotive industry by serving as essential components in various applications. These polymers are commonly used in the manufacturing of coatings, adhesives, sealants, and elastomers, contributing to the overall performance and durability of automotive products. Coatings formulated with synthetic latex polymers provide protective layers on vehicles, enhancing resistance to weathering, corrosion, and abrasion.
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Which Market Players Are Driving the Synthetic Latex Polymers Market Growth ?
Key players in the market include Wacker Chemie AG, Apcotex Industries Limited, Arkema S.A., Arlanxeo Holding BV, Asahi Kasei Corporation, Bangkok Synthetics Co. Ltd., BASF SE, Celanese Corporation, Jubilant Agri & Consumer Products Ltd., Kumho Petrochemical Co. Ltd., LG Chem Ltd., Lion Elastomers LLC, OMNOVA Solutions Inc., Sumitomo Chemical India Ltd., Synthomer PLC, Dow Chemical Company, Trinseo S.A., Versalis SPA, Zeon Corporation, SIBUR International GmbH, The Lubrizol Corporation, The Goodyear Tire & Rubber Company, Eastman Chemical Company, Kuraray Co. Ltd., Synthomer Deutschland GmbH, Asahi Glass Co. Ltd., Nitriflex S/A Indústria e Comércio, Ansell Limited, Momentive Performance Materials Inc., Kraton Corporation.
What Are the Emerging Trends Shaping the Synthetic Latex Polymers Market Overview ?
Major companies operating in in the synthetic latex polymers market are into partnerships to strengthen their position in the market. A business strategic partnership refers to a structured affiliation between two or more commercial enterprises, typically established via one or more business agreements or contracts.
How Is The Global Synthetic Latex Polymers Market Segmented?
1) By Type: Styrene Acrylic, Styrene Butadiene, Acrylic, Vinyl Acetate Copolymer, Polyvinyl Acetate, Vinyl Acetate Ethylene, Other Types
2) By Application: Paints and Coating, Adhesives and Sealants, Nonwovens, Carpets, Paper and Paperboard, Other Applications
3) By End-Use: Construction Sector, Automotive Industry, Electronics Sector, Textile Industry, Healthcare Sector, Other End-User Industries
Geographical Insights: Asia-Pacific Leading The Synthetic Latex Polymers Market
Asia-Pacific was the largest region in the market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Synthetic Latex Polymers Market Definition
Synthetic latex polymers refer to a synthetic substitute for natural latex generated by combining the petrochemical chemicals styrene and butadiene to form SBR (styrene-butadiene rubber).
Synthetic Latex Polymers Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global synthetic latex polymers market report covering trends, opportunities, strategies, and more
The Synthetic Latex Polymers Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on synthetic latex polymers market size, synthetic latex polymers market drivers and trends and synthetic latex polymers market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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The Business Research Company
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