Transparency Market Research has published a new report titled “Styrene Butadiene Latex Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.” According to the report, the global styrene butadiene latex market was valued at $6,809.5 Mn in 2014 and is likely to reach $9,120.3 Mn in 2023, expanding at a CAGR of 3.3 percent between 2015 and 2023.
Styrene butadiene latex is a petroleum derivative comprising styrene and butadiene. The composition of styrene and butadiene is based on the end-use application of the latex. This latex finds applications in several end-user industries. It is widely used in the processing of coated paper. Pretreatment of paper by styrene butadiene latex provides smoothness, gloss, brightness, opacity, and printability to coated paper. In terms of volume, demand for styrene butadiene latex stood at 3,016.1 kilo tons in 2014.
Based on application, the styrene butadiene latex market has been segmented into paper processing, fiber processing, glass fiber processing, paints & coatings, adhesives, mortar additives, and others. The paper processing and fiber processing segments account for a share of 70 percent of the global styrene butadiene latex market in terms of volume in 2014. Although paper processing is a major application, it is expected to expand at a sluggish CAGR of 0.5 percent globally. However, the growth rate is not indicative of the exact market scenario as the market in North America and Europe is estimated to decline, while considerable growth is expected in Asia Pacific and Latin America. The mortar additives application segment is likely to witness the fastest growth during the forecast period. Demand for styrene butadiene latex as mortar additive is estimated to increase at a CAGR of 3.3 percent in terms of volume from 2015 to 2023.
In terms of volume, Asia Pacific accounted for around 45% of the global styrene butadiene latex market in 2014. The highest consumption in this region could be attributed to China and Japan. Europe and North America held the second and third largest shares, respectively, in 2014. Asia Pacific is likely to witness significant growth during the forecast period due to high demand for coated paper. This, in turn, is likely to fuel demand for styrene butadiene latex in the region. Demand for styrene butadiene latex in Latin America and the Middle East and Africa (MEA) is anticipated to increase during the forecast period. The styrene butadiene latex market is highly fragmented, with large number of players operating in the market. Trinseo SA and BASF SE account for the largest share of 40% of the global styrene butadiene latex market.
