Growth Momentum Projected to Accelerate for Global Styrene Butadiene Latex Market
The styrene butadiene latex market is fragmented, and the degree of fragmentation is expected to decrease by 2023.
The global styrene butadiene latex market is forecast to grow at a CAGR of almost 2% from 2018-2023, according to a recent report from Technavio, and the market size will increase by 88.8 thousand tons from 2019-2023. Between 2018-2023, the styrene butadiene latex market will grow at a faster pace than the overall market growth in 2019. The growth momentum of the styrene butadiene latex market is expected to accelerate in the second half of the forecast period compared to the increase in the first half.
The styrene butadiene latex market is fragmented, and the degree of fragmentation is expected to decrease by 2023. An outlook of accelerating growth would provide opportunities to all market participants to grow. Market participants should focus on the opportunities on the demand side rather than getting overly impacted with the competitive dynamics. The accelerating growth momentum will be one of the contributing factors moderating the competitive intensity in the market over the forecast period.
Paper processing was the largest segment within the overall market in 2018 and will continue to remain so in 2023. The growth rate of the paper processing segments will be faster than the global market growth from 2019-2023. However, the growth rate of the fiber and carpet processing, glass fiber processing, adhesives, and others segment will be slower than the overall market growth.
Properties such as low volatile organic compound (VOC) emissions and absence of flammable constituents have boosted the demand for emulsion polymers in adhesives and sealants, paper and paperboard, and paints and coatings manufacturing. It is preferred in the manufacturing of paints as it enhances heat sensitivity, self-repairing ability, and performance. Since styrene butadiene latex is the most commonly used emulsion polymer, its growing demand in the production of fabrics and high-quality coated paper and paperboards will be one of the key trends that will fuel the growth of the styrene butadiene latex market during the next five years.
The demand for coated, moisture-proof, and release paper in assorted perishable and non-perishable product packaging is increasing. The ban on plastic bags has also contributed to the growth of the paper and paperboard packaging market. Styrene butadiene latex is widely used as a latex binder in the production of such coated/pigmented paper and packaging paper. Hence, the growth of the paper and paperboard packaging industry is bound to boost the demand for styrene butadiene latex and drive market growth.
Additional details are available at www.technavio.com.