Styrene-Butadiene Latexes Market Analysis
Styrene-Butadiene Latexes Market - Size, Share, Trends, and Forecast 2019 - 2027
Styrene-butadiene latex is one of the common stable emulsions, which is derived from butadiene and styrene and belongs to families of synthetic rubber. Natural latex is majorly used in medical gloves, whereas styrene-butadiene rubber (SBR) is used for mass production of tires. SBR latex consists of low styrene content, that’s why it is more elastomeric. On the contrary, SB latex contains styrene content and hence acts like plastic. SB latex has greater crosslink density, which makes it tougher and string along with better elasticity than artificial rubber. Moreover, SB latex products are diverse, as manufacturers can create different polymer compositions with different performance results. SB latex accounts for the largest share, while SBR is a smaller segment used for adhesives and molded foams.
Global styrene-butadiene latexes market size is estimated to be valued at US$ 9,120.3 million by 2023, exhibiting a CAGR of 3.5% during the forecast period. Rapid growth of paper coating market is expected to increase the demand for styrene-butadiene and subsequently propel the market growth in the near future. Styrene-butadiene latex is majorly used for binding coated papers as it offers augmented and high coating speed coupled with binding power, which increases its brightness, smoothness, water resistance, and opacity. Moreover, it is more cost-effective than other additives, making it profitable for manufacturers. Increasing demand for styrene-butadiene latex from various industries is expected to drive growth of the market in the near future. SB latex finds applications in various industries such as additives, coatings and paints, glass fiber processing, adhesives, paper processing, and fiber processing. SB latex finds application in adhesives, which is used in construction, electrical, and automobile industry. Such high demand from various industries is expected to boost the market growth.
However, continuously fluctuating prices of raw materials are expected to restrain the global styrene-butadiene latexes market during the forecast period. Butadiene and styrene are derived from crude oil and crude oil prices keep on fluctuating, which is expected to market growth. Moreover, growing awareness among governments and people to conserve trees is expected to hamper growth of the market.
Market Regional Analysis
Developed regions such as Europe is expected to hold the largest market share in global styrene-butadiene latexes market during the forecast period. This is owing to increasing consumption of styrene-butadiene latex in the region. Furthermore, North America and Asia Pacific are expected to account for significant market share during the forecast period.
Key players operating in the global styrene-butadiene latexes market are Zeon, Styron Europe GmbH, The Dow Chemical Company, and BASF SE.