The Synthetic Latex Polymer Market is to Touch $47.2 Billion by 2030; The surging adoption of styrene butadiene in the paper & paperboard industry and Bolstering construction industry propels market growth.

The Synthetic Latex Polymer Market size is estimated to reach $47.2 Billion by 2030, growing at a CAGR of 4.3% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Synthetic Latex Polymer Market – By Form (Liquid, Powder, Granules), By Product Type (Styrene Acrylic, Styrene Butadiene, Acrylic, Vinyl Acetate Copolymer, Polyvinyl Acetate, Vinyl Acetate Ethylene, and Others), By Application (Processed Paper, Adhesives & Sealants, Paints & Coatings [Architectural, Industrial, Special Purpose], Packaging, Rubber Gloves, Automotive Parts [Belt, Brake Pads, and Others], Non-woven Fabrics, and Others), By End-Use Industry (Building & Construction [Residential, Commercial, Industrial, Infrastructure], Automotive [Passenger Vehicles (PV), Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV)], Electrical & Electronics [Television, Computers, Smartphones, Wires & Cables, and Others], Textile, Paper & Paperboard, Healthcare, Cosmetics & Personal Care [Hair Care, Skin Care, and Others], and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”

Growth in bio-based raw materials and Expansion in medical & healthcare applications are expected to create growth opportunities in the market during forecast period.

APAC accounted for the largest share of 48.1% of the Synthetic Latex Polymer Market in 2023 followed by North America and Europe. For instance, according to the China Association of Automobile Manufacturers (CAAM), in 2023, the total number of cars manufactured in China was 30.1 million units, an increase of 11.6% over 2022. Therefore, the surge in the production of automobiles in Asia-Pacific is fueling the demand for automotive parts. As a result, it is expected the demand for synthetic latex polymers will surge. This, in turn, will propel the synthetic latex polymers market size growth. 

Because of their potential to produce low cost, high volume and versatile electronics, organic field-effect transistors (OFETs) have been a hot topic for the past decade. Currently, Synthetic Latex Polymer is the most studied suspension polymerizations to be used as a dielectric material in organic thin-film transistors due to its versatility, low cost, water-soluble polymer, non-toxicity, high dielectric consistency, flexible hydrophilic network, low leakage current, good film properties and, most importantly, its high dielectric permittivity and high insulating properties. The most promising factor currently being used as a dielectric gate in OFET structures is Synthetic Latex Polymer. Thus, the usage of Synthetic Latex Polymer is expected to increase in the electronics industry.

PVA, particularly in its partially hydrolyzed form, is highly valued in packaging applications for its excellent film-forming properties and biodegradability. As environmental concerns rise, there is a growing push towards eco-friendly packaging solutions to reduce plastic waste and enhance sustainability. PVA films are an attractive alternative to traditional plastics because they are water-soluble, allowing them to dissolve completely and leave no harmful residues. This characteristic is especially beneficial in applications such as single-use packaging, agricultural films, and protective coatings. As these trends continue, the packaging industry's reliance on PVA is expected to expand, reinforcing its position as a key driver in the Synthetic Latex Polymer market. 

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• In June 2023, Apcotex invests Rs. 200 crores last year on two expansion projects and is expanding its nitrile latex production capacity. This expansion is expected to increase their production by 85,000 MT over the next few years.

Key companies profiled in the Synthetic Latex Polymer Market are Apcotex Industries Limited, Arkema Group, BASF SE, The Dow Chemical Company, Jubilant, Kumho Petrochemical Co., Ltd., LG Chem, Lion Elastomers, SIBUR International GmbH, Zeon Europe GmbH, and Others.