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The styrene butadiene (SB) latex market share is expected to increase by USD 1.15 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.04%.
This styrene butadiene (SB) latex market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers styrene butadiene (SB) latex market segmentation by application (paper processing, fiber and carpet processing, glass fiber adhesives, adhesives, and others) and geography (APAC, Europe, North America, Middle East and Africa, and South America). The SB latex market report also offers information on several market vendors, including Asahi Kasei Corp., BASF SE, The Dow Chemical Co., EcoSynthetix Inc., General Industrial Polymers, HANSOLCHEMICAL, JSR Corp., Kumho Petrochemical Co. Ltd., LANXESS AG, Mallard Creek Polymers, MCTRON Inc., NANTEX Industry Co. Ltd., NISCHINTH, Rishiroop Polymers Pvt. Ltd., RPM International Inc., Synthomer Plc, Trinseo PLC, and LG Chem Ltd. among others.
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The growth in demand from APAC and Europe is notably driving the styrene butadiene latex market growth, although factors such as the rising preference for bio-based latexes may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the styrene butadiene (SB) latex industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Styrene Butadiene (SB) Latex Market Driver
One of the key factors driving the global styrene butadiene (SB) latex industry growth is the growth in demand from APAC and Europe, owing to the high demand for paper and paperboard, adhesives, carpets, and fibers in the construction and packaging industries. Moreover, the ban on plastic bags in European and APAC countries is boosting the consumption of cardboard and paper for packaging. EU aims to reduce the consumption of single-use and short-lived plastic by 20% by 2025, thereby encouraging the use of paper and paperboard for packaging. In the EU, Belgium is the leader in the carpet industry, followed by the Netherlands. SB latex back coatings enhance the performance of carpets, improve stability, and resist tuft loss at the cut edges of the carpets. Moreover, the increasing demand for pressure-sensitive adhesives, mortar additives, and paints and coatings from the construction industry will further boost the consumption of SB latex in the forecast period.
Key Styrene Butadiene (SB) Latex Market Trend
Rising preference for bio-based latexes is one of the key styrene butadiene SB latex market trends that is expected to impact the industry positively in the forecast period. Emulsion polymers are preferred owing to low VOC emissions and the absence of flammable constituents. Emulsion polymerization has become scientifically, technologically, and commercially important for the production of emulsion polymers with no or negligible VOCs. The global emulsion polymers market is expanding at a CAGR of approximately 6.41% and is expected to witness an incremental growth of USD 11.29 billion by 2025. SB latex is among the widely consumed emulsion polymers, which is used in paper and paperboard manufacturing, paints and coatings, and adhesives. SB latex is the most common type of SB emulsion polymer. The rising use of SB latex emulsion polymer in the production of high-quality coated paper, paperboards, and fabrics will be driving the market in the coming years.
Key Styrene Butadiene (SB) Latex Market Challenge
One of the key challenges to the global styrene butadiene latex industry growth is the rising preference for bio-based latexes. As the key raw materials used in the production of SB latex (styrene and butadiene) are petroleum products, fluctuations in crude oil prices affect their prices. For instance, in 2020, the average price of ethylene worldwide accounted for around USD 697 per metric ton. As of July 2021, the average price for that year rose to USD 1,014 per metric ton, an increase of more than 45% when compared to the previous year. An increase in crude oil prices reduces drilling activities, which results in a demand-supply imbalance for key petroleum-based raw materials. Owing to the resultant rise in raw material prices, manufacturers undertake cost-cutting measures, such as workforce layoffs, production shutdown, or production capacity reduction. Such factors will limit the market growth in the forecast period.
This styrene butadiene (SB) latex market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global styrene butadiene (SB) latex market as a part of the global commodity chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the styrene butadiene (SB) latex market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the styrene butadiene (SB) latex market encompasses successful business strategies deployed by the key vendors. The styrene butadiene (SB) latex market is fragmented and the vendors are deploying growth strategies such as product innovation to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The styrene butadiene (SB) latex market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the styrene butadiene (SB) latex market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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53% of the market's growth will originate from APAC during the forecast period. China, Japan, and South Korea are the key markets for styrene butadiene (SB) latex in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The high demand for SB latex from construction, pulp and paper, paints and coatings, and packaging industries will facilitate the styrene butadiene (SB) latex market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020 and early 2021, the SB latex market in the region witnessed certain challenges due to the outbreak of the COVID-19 pandemic. India, China, Bangladesh, and Pakistan are some of the most badly affected countries by the pandemic in the region. Containment measures such as the temporary closure of non-essential businesses, travel restrictions, quarantines, and other disruptive actions, negatively impacted the operations of SB latex manufacturing units across the region in 2020 and in early 2021. However, the ongoing COVID-19 vaccination drives are expected to reduce the number of COVID-19 cases during the forecast period. This will support the complete resumption of operations in SB latex manufacturing facilities by market vendors and also in end-user industries such as construction, pulp and paper, paints and coatings, and footwear manufacturing. This is expected to increase the demand for SB latex across end-user industries in APAC during the forecast period.
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The styrene butadiene (SB) latex market share growth by the paper processing segment will be significant during the forecast period. The growth is attributed to the use of SB latex in the processing and production of different types of papers, which include specialized paper, moisture-proof paper, and coated/pigmented paper. SB latex is also used in the manufacturing of paperboard coatings.
This report provides an accurate prediction of the contribution of all the segments to the growth of the styrene butadiene (SB) latex market size and actionable market insights on post COVID-19 impact on each segment.
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Styrene Butadiene (SB) Latex Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.04% |
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Market growth 2022-2026 |
$ 1.15 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
2.45 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 53% |
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Key consumer countries |
US, China, Japan, South Korea, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Asahi Kasei Corp., BASF SE, The Dow Chemical Co., EcoSynthetix Inc., General Industrial Polymers, HANSOLCHEMICAL, JSR Corp., Kumho Petrochemical Co. Ltd., LANXESS AG, Mallard Creek Polymers, MCTRON Inc., NANTEX Industry Co. Ltd., NISCHINTH, Rishiroop Polymers Pvt. Ltd., RPM International Inc., Synthomer Plc, Trinseo PLC, and LG Chem Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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