Styrene Butadiene (SB) Latex Market size is set to grow by USD 1.50 billion from 2024-2028, Growing demand for SB latex from APAC and Europe to boost the market growth, Technavio

NEW YORK, June 13, 2024 /PRNewswire/ -- The global styrene butadiene (SB) latex market  size is estimated to grow by USD 1.50 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  3.68%  during the forecast period. Growing demand for SB latex from APAC and Europe is driving market growth, with a trend towards rising preference for bio-based latexes. However, fluctuations in crude oil prices  poses a challenge. Key market players include Asahi Kasei Corp., BASF SE, Dow Chemical Co., EcoSynthetix Inc., Fosroc International Ltd., General Industrial Polymers, Hansol Holdings, JSR Corp., Jubilant Industries Ltd., Kumho Petrochemical Co. Ltd., Lanxess AG, LG Chem Ltd., Mallard Creek Polymers, MCTRON Inc., NANTEX INDUSTRY Co. Ltd., Rishiroop Polymers Pvt. Ltd., RPM International Inc., S.R. Chemical, Synthomer Plc, and Trinseo PLC.

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Key Market Trends Fueling Growth

The demand for bio-based latexes, such as starch-derived latex, is increasing due to concerns about synthetic latex materials and price fluctuations in styrene and butadiene. Paper companies are seeking alternatives to petroleum-derived latex for manufacturing paper and paperboard. Bio-based latex, like EcoSynthetix Inc.'s EcoSphere binders, consumes less energy and reduces carbon footprint by up to 67%. This shift to bio-based latex may negatively impact the global SB latex market during the forecast period. 

The Styrene Butadiene (SB) latex market is currently experiencing significant growth. Producers are focusing on increasing capacity and improving production processes to meet rising demand. Coating and adhesives are the primary applications for SB latex. In the coming years, the trend is expected to continue with a strong focus on sustainability and eco-friendliness.

Carboxylated and acrylic-modified SB latex are gaining popularity due to their superior performance and environmental benefits. The market is also witnessing increased demand from the automotive and construction industries. Additionally, the use of SB latex in textiles and fibers is on the rise, providing new opportunities for market expansion. Overall, the SB latex market is poised for continued growth and innovation. 

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Market Challenges

• Crude oil price fluctuations significantly impact the SB latex market by increasing the cost of key raw materials, styrene and butadiene, which are petroleum products. In 2020, the average price of ethylene was USD697 per metric ton, but by July 2021, it had risen to USD1,014 per metric ton, a 45% increase. This increase in raw material prices forces manufacturers to take cost-cutting measures, such as workforce reductions, production shutdowns, or capacity reductions. As a result, crude oil price fluctuations may negatively impact the growth of the global SB latex market.
• The Styrene Butadiene (SB) latex market faces several challenges. Industry experts indicate a significant increase in raw material costs, particularly for butadiene and styrene monomers. Additionally, the industry is dealing with rising energy prices, which impact production costs.
• Furthermore, the market is experiencing intense competition, with numerous players vying for market share. Regarding sustainability, there is a growing demand for eco-friendly alternatives to SB latex. Lastly, regulatory compliance remains a challenge, with stringent regulations governing the production and use of SB latex. Despite these challenges, the market continues to grow, driven by increasing demand for latex products in various industries.

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Segment Overview 

1. Type 
• 1.1 Low
• 1.2 Medium
• 1.3 High
2. Application 
• 2.1 Paper processing
• 2.2 Fiber and carpet processing
• 2.3 Glass fiber adhesives
• 2.4 Adhesives
• 2.5 Others
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Low-  The Styrene Butadiene (SB) latex market experiences growth due to the rising demand for products made with low butadiene SB latex. This type of latex offers enhanced chemical and UV resistance, durability, and improved mechanical properties, making it suitable for industries prioritizing strength and sustainability. By minimizing hydrocarbon compound use, this latex contributes to lowering Volatile Organic Compound (VOC) emissions and enhancing environmental footprints.

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Research Analysis

The Styrene Butadiene (SB) Latex market is a significant segment in the adhesives, coatings, and sealants industry. SB Latex is derived from the polymerization reaction of Butadiene and Styrene monomers, serving as a crucial feedstock in various applications. In the Carpet industry, SB Latex is employed as an essential component in the production of pressure-sensitive adhesives. Meanwhile, in the Adhesives industry, it is used as an emulsifier in the impregnation process.

In the Paper processing segment, SB Latex is utilized in paper coatings to enhance their properties, such as plasticity and fiber processing. Glass fiber processing also benefits from SB Latex, as it acts as a bonding agent during the manufacturing process. Furthermore, in the Paints and coatings sector, SB Latex is used as a raw material due to its excellent adhesion properties.

Refrigeration equipment is essential in the production of SB Latex, as the polymerization reaction requires controlled temperatures. Carboxylic acids are sometimes used as catalysts in the polymerization process to improve the reaction rate and product quality. Overall, the Styrene Butadiene Latex market plays a vital role in various industries, including the Carpet and Adhesives industries, as well as the Paper and Paints and coatings sectors.

Market Research Overview

The Styrene Butadiene (SB) Latex market refers to the production and sale of styrene butadiene rubber, which is a type of elastomer used in the manufacturing of latex. This elastomer is produced through the polymerization of styrene and butadiene monomers. The SB latex market is significant due to its wide range of applications in various industries, including automotive, construction, consumer goods, and healthcare.

The demand for SB latex is driven by its excellent properties such as high tensile strength, elasticity, and resistance to oil, heat, and cold. The production process involves the emulsion polymerization of styrene and butadiene monomers, resulting in latex particles that can be coagulated to form rubber. The global SB latex market is expected to grow due to increasing demand for rubber products in various end-use industries.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• Low
• Medium
• High
• Application
• Paper Processing
• Fiber And Carpet Processing
• Glass Fiber Adhesives
• Adhesives
• Others
• Geography
• APAC
• Europe
• North America
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio