[ad_1]
NEW YORK , March 30, 2022 /PRNewswire/ — The “Styrene Butadiene (SB) Latex Market by Application (Paper processing, Fiber and carpet processing, Glass fiber adhesives, Adhesives, and Others) and Geography (APAC, Europe, North America, Middle Eastand Africaand South America) – Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. 53% of the market’s growth will originate from APAC during the forecast period. ChinaJapan, 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.
The potential growth difference for the styrene-butadiene (SB) latex market between 2021 and 2026 is USD 1.15 billion. To get the exact yearly growth variance and the YOY growth rate, Talk to our analyst.
Key Market Dynamics:
- Market Driver – The key factors driving the global styrene-butadiene (SB) latex industry growth is the growth in demand from APAC and Europeowing 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, paints, and coatings from the construction industry will further boost the consumption of SB latex in the forecast period.
- Market Challenges – The key challenge 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 2021the 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.
To learn about additional key drivers, trends, and challenges – Read our FREE Sample Report right now!
Segmentation Analysis
The styrene-butadiene (SB) latex market report is segmented by Application (Paper processing, Fiber and carpet processing, Glass fiber adhesives, Adhesives, and Others) and Geography (APAC, Europe, North America, Middle East, Africaand South America).
The styrene-butadiene (SB) latex market share growth in the paper processing segment will be significant for revenue generation. 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.
View our sample report for additional insights into the contribution of all the segments
Some Companies Mentioned
The styrene-butadiene (SB) latex market is fragmented and the vendors are deploying growth strategies such as product innovation to compete in the market.
·
- 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
- LG Chem Ltd.
- To gain access to more vendor profiles with their key offerings available with Technavio, Click Here
Related Reports:
- The sodium sulfate market share is expected to increase by 1427.55 thousand units from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 2.02%. Download a free sample now!
- The potash market share is expected to increase by USD 21.62 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.44%. Download a free sample now!
|
Styrene Butadiene (SB) Latex Market Scope |
|
|
Report Coverage |
Details |
|
| |
Full story available on Benzinga.com
[ad_2]
Source link
