synthetic latex polymers market growth and future analysis-2020

Posted by rohan on November 26th, 2020

synthetic latex polymers Market Overview:

The synthetic latex polymers market is expected to reach $ 42.48 billion by 2025 and grow at a CAGR growth rate of 7.9% during the forecast period 2020 to 2025. Synthetic Latex Polymers They are widely used in the production of textiles and coatings to achieve chemical bonding of the fibrous structure. They are mainly used to overcome the limitations of nonwovens in properties such as structure, stiffness, strength and ease of dry cleaning. These polymers are picked on the basis of cost and performance characteristics such as strength, durability and compatibility with additives. Some of the more commonly used polymers include styrene-butadiene (SBR) copolymers, acrylonitrile-butadiene copolymers, polychloroprene, acrylic polymers, vinyl acetate polymers, vinyl acetate-ethylene polymers, polymers and copolymers of vinyl chloride, polybutadiene, polyisoprene, etc. Global Synthetic Latex Polymer market is estimated and forecast in terms of revenue (USD Million) generated by the global market.

synthetic latex polymers Market drivers and restraints:

The growing call for synthetic latex polymers for paints and coatings is driving the growth of the market. Latex-based paints and coatings have several advantages over oil-based paints and coatings, including convenience in use, fast drying, low or near zero VOC, and easy to clean and recoat. These advantages of synthetic latex polymers are predicted to stimulate their adoption for paint and coating applications. In addition, the growing construction and automotive sectors are supporting the growth of the market. The construction and automotive industries widely use synthetic latex polymers for a variety of applications, including paints, coatings, adhesives, sealants, carpets and nonwovens. Hence, growing construction and automotive industries are increasing the growth of Synthetic Latex Polymers Market as they are the major end-use industries. However, as synthetic latex polymers are produced by combining monomers derived from refined sources of hydrocarbons like crude oil and natural gas, fluctuations in crude oil prices are expected to hamper the growth of the synthetic latex polymers market. However, the increasing demand for electrical and electronic products from developing regions is expected to drive the market growth in the future. Most electrical and electronic products use synthetic latex for applications including adhesives and sealants. Hence, the increasing production and sale of electrical and electronic products in developing economies is expected to increase the market growth in the future.

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