PUBLISHER: The Business Research Company | PRODUCT CODE: 1662358
PUBLISHER: The Business Research Company | PRODUCT CODE: 1662358
Synthetic latex polymers are man-made substitutes for natural latex produced by combining petrochemical chemicals like styrene and butadiene to create SBR (styrene-butadiene rubber).
The primary types of synthetic latex polymers include styrene acrylic, styrene-butadiene, acrylic, vinyl acetate copolymer, polyvinyl acetate, vinyl acetate ethylene, among others. Styrene acrylic refers to a copolymer emulsion derived from styrene and acrylate, enhancing alkali and water resistance significantly. These synthetic latex polymers find applications in various industries such as paints and coatings, adhesives and sealants, nonwovens, carpets, paper and paperboard, among others. These applications span across sectors including construction, automotive, electronics, textiles, healthcare, and various other end-user industries.
The synthetic latex polymers market research report is one of a series of new reports from The Business Research Company that provides synthetic latex polymers market statistics, including synthetic latex polymers industry global market size, regional shares, competitors with synthetic latex polymers market share, detailed synthetic latex polymers market segments, market trends, and opportunities, and any further data you may need to thrive in the synthetic latex polymers industry. This synthetic latex polymers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The synthetic latex polymers market size has grown steadily in recent years. It will grow from $33.54 billion in 2024 to $35.2 billion in 2025 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to industrialization and economic growth, expansion of construction and infrastructure activities, growing awareness of environmental impact, rising demand in the automotive sector, increasing use in healthcare and medical devices.
The synthetic latex polymers market size is expected to see strong growth in the next few years. It will grow to $44.67 billion in 2029 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to growing emphasis on bio-based polymers, expanding applications in water-based formulations, increased demand for customized formulations, rising importance of lightweight materials, global focus on green and sustainable practices, technological integration for enhanced product properties. Major trends in the forecast period include technological advancements in polymerization processes, increasing use in non-woven fabrics, growing demand in the Asia-Pacific region, stringent environmental regulations, resilience amid economic challenges.
The rising level of construction activity is anticipated to drive the growth of the synthetic latex polymers market in the future. Construction activities encompass tasks related to the construction, dismantling, assembly, alteration, installation, or equipping of buildings, structures, roadways, or their associated components. Synthetic latex polymers are utilized in construction products such as paints and coatings, adhesives, and sealants to enhance elastomer properties, provide binding, and prevent cracking. For example, in July 2023, the Australian Bureau of Statistics, an Australian government agency, reported that in the March quarter of 2023, the total number of dwellings under construction increased by 1.3%, reaching 240,813 units. This figure exceeds the previous record of 240,065 units set in the March 2022 quarter. Thus, the increase in construction activities is fueling the growth of the synthetic latex polymers market.
The growth of the automotive industry is expected to drive the expansion of the synthetic latex polymers market in the coming years. The automotive industry encompasses the range of companies, organizations, and activities involved in designing, developing, producing, marketing, and selling motor vehicles. Synthetic latex polymers are crucial to the growth of this industry as they serve as key components in various applications. These polymers are widely used in the production of coatings, adhesives, sealants, and elastomers, which enhance the overall performance and durability of automotive products. Coatings made with synthetic latex polymers create protective layers on vehicles, improving their resistance to weathering, corrosion, and abrasion. For example, in June 2023, GOV.UK reported that as of December 2022, the UK had 40.7 million licensed vehicles, marking a 1.0% increase compared to December 2021. Thus, the growth of the automotive industry is propelling the synthetic latex polymers market forward.
Technological advancements have become a significant trend gaining traction in the synthetic latex polymers market. Major companies in this sector are concentrating on innovating new technologies to maintain their competitive edge. For example, in August 2022, Constructive Bio, a UK-based biotechnology company, launched with a focus on scaling and commercializing synthetic biology breakthroughs from Professor Jason Chin's research. With an initial seed investment of $15 million and an exclusive license from the Medical Research Council, the company aims to develop innovative platform technologies for large-scale DNA assembly and genome reprogramming. Constructive Bio's mission is to leverage synthetic biology to address global challenges by creating novel therapeutics, improving agricultural practices, and producing sustainable materials, including biodegradable polymers. This initiative marks a significant advancement in synthetic genomics and promotes a more sustainable economy.
Major companies in the synthetic latex polymers market are forming partnerships to enhance their market position. A strategic business partnership is a structured alliance between two or more commercial entities, usually established through one or more business agreements or contracts. For example, in November 2022, LanzaTech Global, a US-based gas fermentation technology company, partnered with Sumitomo Riko Co. Ltd., a Japan-based rubber product manufacturing company. This collaboration aims to repurpose rubber, resin, and urethane waste for producing a key chemical intermediate, isoprene, which can create a new sustainable source of rubber through recycling while maintaining material integrity.
In April 2023, Teknor Apex, a US-based chemicals company, acquired Nu-Pro Polymers for an undisclosed amount. This acquisition aims to strengthen Teknor Apex's sustainability initiatives and broaden its product offerings in the flexible PVC market. Nu-Pro Polymers, a US-based polymer supplier, manufactures PVC recycled content-based compounds with various technical specifications, including hardness, specific gravity, and colors.
Major companies operating in the synthetic latex polymers market are Wacker Chemie AG, Apcotex Industries Limited, Arkema S.A., Arlanxeo Holding BV, Asahi Kasei Corporation, Bangkok Synthetics Co. Ltd., BASF SE, Celanese Corporation, Kumho Petrochemical Co. Ltd., LG Chem Ltd., Lion Elastomers LLC, OMNOVA Solutions Inc., Sumitomo Chemical India Ltd., Synthomer PLC, Dow Chemical Company, Trinseo S.A., Versalis SPA, Zeon Corporation, SIBUR International GmbH, The Lubrizol Corporation, Eastman Chemical Company, Kuraray Co. Ltd., Synthomer Deutschland GmbH, Nitriflex S/A Industria e Comercio, Momentive Performance Materials Inc., Kraton Corporation
Asia-Pacific was the largest region in the synthetic latex polymers market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the synthetic latex polymers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the synthetic latex polymers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The synthetic latex polymers market consists of sales of synthetic rubbers and synthetic latex such as carboxylate styrene-butadiene latex, nitrile latex, and high styrene rubber. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Synthetic Latex Polymers Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on synthetic latex polymers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for synthetic latex polymers ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The synthetic latex polymers market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.