Global styrene butadiene latex market forecast to reach $9.12 billion by 2023
Friday, February 24, 2017
Albany, NY - 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 million in 2014 and is likely to reach $9,120.3 million in 2023, expanding at a CAGR of 3.3 percent between 2015 and 2023. The global styrene butadiene latex market is governed by regional market dynamics and demand from the largest end-use industries, namely coated paper manufacturing and carpet manufacturing industries in the respective regions. These end-user industries accounted for over 70 percent of the global styrene butadiene latex market in terms of volume in 2014. The market trends exhibited by these industries vary significantly among the developing and the developed regions. North America and Europe exhibit a declining trend, while Asia Pacific and Latin America are likely to witness robust demand in the near future. The paper processing segment holds the largest share of the global styrene butadiene latex market in terms of volume. The segment includes coated paper manufacturing process, which accounted for around 40 percent of the global styrene butadiene latex market in terms of volume in 2014. Demand for styrene butadiene latex in fiber processing, particularly carpet manufacturing, was the second largest in terms of volume, accounting for around 35% of the market in 2014. The paper processing application segment has witnessed strong growth in Latin America and Asia Pacific, while it has declined significantly in North America and Europe. The fiber processing application segment, however, is expected to grow at a faster rate during the forecast period. Mortar additives is anticipated to be the fastest growing application segment in terms of volume. The high growth rate in the construction industry, especially in Asia Pacific, the Middle East and Latin America is likely to boost demand for styrene butadiene latex during the forecast period. The styrene butadiene latex market in Asia Pacific would continue to witness strong growth during the forecast period due to high demand for coated paper in the region. Demand for styrene butadiene latex in Latin America and the Middle East and Africa (MEA) is likely to increase during the forecast period. The global styrene butadiene latex market is highly fragmented, with large number of players operating in the market. Trinseo SA and BASF SE are the leaders in the styrene butadiene latex market. The report provides an in-depth analysis of the styrene butadiene latex market in terms of volume (kilo tons) and revenue (US$ Mn). It includes current demand analysis and forecast for each application segment at the global and regional level. Regions analyzed include North America, Europe, Asia Pacific, Latin America (LATAM), and the Middle East and Africa (MEA). Each region has been sub-segmented into the major countries or regions.
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