CHICAGO, Aug. 2, 2021 /PRNewswire/ -- According to the new market research report "Latex Binders Market by Type (Styrene Acrylic, Styrene Butadiene), End-use Industry (Paints & Coating, Adhesive & Sealant, Paper & Paperboard, Textile & Carpet, Construction & Fiber Bonding Materials), and Region - Global Forecast to 2026", published by MarketsandMarkets™, the global Latex Binders Market size is projected to grow from an estimated value of USD 6.6 billion in 2021 to USD 9.0 billion by 2026, at a CAGR of 6.5% during the forecast period. The growing application of styrene-butadiene binders at a global level in industries such as paints & coating, adhesive & sealants, textile & carpet, construction & fiber bonding materials, and others to drive the market demand for latex binders. Further, the increasing demand for latex binders from developing economies of the world owing to the growth of different application industries as well as the shift from high voC to low VoC towards more eco-friendly ones will additionally boost the latex binders market in the future.
Styrene-butadiene segment is estimated to dominate the overall latex binders market.
Styrene-butadiene is expected to be the most significant type of latex binders used globally in terms of value and volume. Styrene-butadiene binders is widely used in varied foam applications owing to its good handling property, ease of application, and high bonding strength. The growth of styrene-butadiene is supported by the increasing usage of the styrene-butadiene copolymer and styrene-butadiene rubber in various end-use industries. The growing demand for low-cost medium to formulate latex, making styrene bytadiene latex comparatively inexpensive. This latex binder is widely used in applications such as construction additives, paints & coating, adhesive & sealant, paper & paperboard, textile & carpet, and sports surfaces.
Paints & coating is projected to be the fastest-growing market for latex binders, by end-use industry, during the forecast period.
Paints & coating is projected to be the fastest-growing market for latex binders during the forecast period. paints & coatings require various types of latex binders such as acrylic, latex, and vinyl acetate, among others. Architectural paints are majorly manufactured using acrylic in the paints & coating industry. The paper & paperboard end-use industry requires the SB latex binder while the vinyl acetate latex binder is used in adhesive & sealant. The demand for the latex binder is majorly driven by paints & coating, while the market in the construction & fiber bonding materials segment is expected to grow at the highest CAGR during the forecast period
APAC is estimated to be the largest latex binders market during the forecast period.
APAC is projected to be the largest latex binders market during the forecast period. The growing paints & coating, adhesive & sealant, construction & fiber bonding materials, and other manufacturing industries are the major factors driving the growth of latex binders in the region. The region's rapid economic development, increased standard of living, rising per capita income are the factors driving the growth of the industries mentioned above. Also, the increasing usage of eco-friendly latex binders will drive the latex binders market in the region.
Trinseo (US), BASF (Germany), Wacker Chemie (Germany), Arkema (France), Celanese Corporation (UK), Dow (US), DIC Corporation (Japan), Synthomer Plc (UK), Omnova Solutions (US), Dairen Chemical Corporation (Taiwan) are the major players in the latex binders market.
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