Synthetic latex polymers are produced by emulsion polymerization or suspension polymerization. These polymers are used in different applications such as paints & coatings, adhesives & sealants, paper & paperboard, carpets, and nonwovens. The synthetic latex polymers market has been segmented on the basis of type, application, and region, in terms of value and volume. The Synthetic latex polymers market is estimated to be USD 27.58 billion in 2017 and is projected to reach USD 34.53 billion by 2022, at a CAGR of 4.6% from 2017 to 2022.
Based on type, the vinyl acetate ethylene segment of the synthetic latex polymers market is projected to grow at the highest CAGR between 2017 and 2022, in terms of volume. This growth can be attributed to the rising demand for exterior, interior, and textured coatings. Other factors driving the growth of the vinyl acetate ethylene segment is the increased use of non-VOC paints & coatings in several industries.
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Based on application, the paints & coatings segment of the synthetic latex polymers market is projected to grow at the highest CAGR between 2017 and 2022, in terms of volume. This growth can be attributed to the increasing use of paints & coatings in residential and commercial construction activities.
The use of synthetic latex polymers in paints & coatings application and the replacement of solvent-based adhesives with water-based adhesives are key factors anticipated to drive the growth of the synthetic latex polymers market. Companies operating in this market are focused on the adoption of key growth strategies, such as new product launches, expansions, and acquisitions, to cater the rising demand for synthetic latex polymers across various regions worldwide. Leading players operating in the synthetic latex polymers market include BASF (Germany), Dow Chemical (US), Wacker Chemie (Germany), Celanese Corporation (US), Synthomer (UK), and OMNOVA Solutions (US).
Besides new product launches and expansions, companies have also adopted joint ventures and acquisitions to expand their market share and distribution network. These strategies accounted for a significant share of all growth strategies adopted by key players in the synthetic latex polymers market between 2015 and 2017.
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Active Players in the Synthetic Latex Polymers Market
Wacker Chemie (US), one of the key market players, is engaged in the development of synthetic latex polymers. The company has adopted expansions as a key growth strategy to enhance its market share and widen its customer base. The company maintains a strong foothold in the synthetic latex polymers market, as it provides high-grade products for different applications. In 2017, the company established a technical center in Istanbul (Turkey) for construction, textile, and consumer-care applications. The facility was designed as a test laboratory for polymeric binders that are used in construction, textile, household, and cosmetics industries. Moreover, in 2017, the company established a new polymers lab in Dubai to provide technical support for vinyl acetate-ethylene copolymer formulations. This expansion strategy helped Wacker Chemie address the increasing demand for copolymer resins from the carpet and adhesives industries.
Synthomer (UK) is one of the largest innovation-driven companies in the synthetic latex polymers market. The company has adopted the strategy of new product launches and acquisitions to enhance its revenue. It intends to complete the acquisition of BASF Austrian SBR business by early 2018. This acquisition is expected to help Synthomer improve its SBR business, enhance the production capacity of synthetic latex polymers, and widen its presence in the European region.
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