Global Styrene Butadiene Latex Market to Register 3.3% CAGR to 2023: Transparency Market Research
By Business Wire News
By Business Wire News
The styrene butadiene latex market stood at US$6,809.5 million in 2014 and, expanding at a 3.3% CAGR from 2015 through 2023, will value US$9,120.3 million in 2023, says Transparency Market Research’s new report, “Styrene Butadiene Latex Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015-2023”.
The growth of the market for styrene butadiene latex is largely influenced by demand from the key end-use industries of carpet manufacturing and coated paper manufacturing. These end-use sectors held a predominant share over 70% by volume of the market in 2014.
As of 2014, the majority of the styrene butadiene latex market – in volume terms – was held by the paper processing segment. This segment comprises the coated paper manufacturing process, which represented 40% of the market for styrene butadiene latex in volume terms in 2014. Trailing closely behind paper processing in 2014 was the fiber processing segment, with 35% of total demand in the styrene butadiene latex market. The expansion of the paper processing segment has been appreciable in Latin America and Asia Pacific, whereas it has remained tepid in Europe and North America.
TMR analysts project that the application segment of fiber processing will demonstrate a faster growth rate through the forecast period. However, the fastest growth will be seen in mortar additives thanks to the robust expansion of the construction industry in emerging regions.
Strong coated paper demand in Asia Pacific will accelerate the market for styrene butadiene latex here. In the Middle East and Latin America, an upswing in demand is expected. The report also studies the competitive landscape of the global market for styrene butadiene latex, which is greatly fragmented, but is led by BASF SE and Trinseo SA.
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Transparency Market Research (TMR) is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.