CHICAGO, May 23, 2024 /PRNewswire/ -- The report "Synthetic Latex Polymers Market by Type (Styrene Acrylic, Acrylic, Styrene Butadiene, Vinyl Acetate Ethylene, Polyvinyl Acetate, Vinyl Acetate Copolymer), Application (Paints & Coatings, Adhesives & Sealants, Nonwovens), & Region - Global Forecast to 2029", is projected to reach USD 53.2 billion by 2029, at a CAGR of 5.5% from USD 40.6 billion in 2024. The synthetic latex polymers market is driven by increasing demand in the paints and coatings industry, rapid urbanization and infrastructure projects in emerging economies, stringent environmental regulations regarding VOC emissions, and rising demand for biobased, eco-friendly, and biodegradable synthetic latex polymers.
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"Acrylic is the second largest type of the synthetic latex polymer, in terms of value."
Acrylic synthetic latex polymers offer enhanced durability, enhancing the longevity and performance of products such as paints, coatings, and adhesives. This durability ensures that these materials endure wear and tear, making them well-suited for applications demanding enduring finishes. These synthetic latex polymers offer outstanding water resistance, rendering them appropriate for situations necessitating protection against moisture. This attribute proves particularly advantageous in industries such as construction, where materials must withstand exposure to water and humidity. Acrylic latex polymers deliver a favorable blend of flexibility and strength, making them applicable in scenarios requiring materials capable of bending and stretching without compromising their structural integrity.
"North America captures the second largest share in the synthetic latex polymers market during the forecast period, in terms of value."
The expansion of the electronics industry in North America creates lucrative growth opportunities for synthetic latex polymer manufacturers by increasing demand for specialized materials, driving innovation in product development, and emphasizing the importance of sustainability and environmental responsibility in manufacturing processes. In North America, the construction sector serves as a significant market for synthetic latex polymers, employing them in paints, coatings, adhesives, and sealants across residential and commercial projects alike. These polymers offer crucial properties such as adhesion, durability, and water resistance, playing a vital role in safeguarding surfaces and prolonging the lifespan of buildings and structures.
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Mergers, new product launches and expansions are the major growth strategies adopted by the key players in the market. The key global players in the synthetic latex polymers market include Arkema (France), Wacker Chemie AG (Germany), Synthomer PLC (UK), LG Chem (South Korea), Celanese (US), Trinseo (US), Dow (US), BASF SE (Germany), Apcotex (India), ARLANXEO (The Netherlands), H.B. Fuller (US), Asahi Kasei Corporation (Japan), The Lubrizol Corporation (US), and ZEON CORPORATION (Japan).
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