Styrene Butadiene Latex Market to Develop Rapidly by 2023
Styrene
butadiene latex is an emulsion polymer containing styrene and
butadiene. Feedstock required for the production of styrene butadiene
latex includes styrene, butadiene, water, and emulsifier. Carboxylic
acid is added in order to manufacture carboxylated styrene butadiene
latex. The mixture then undergoes polymerization reaction, following
which the unreacted monomers (light and heavy) are recovered from the
emulsion. Latex is generally manufactured through cold process for
which efficient refrigeration equipment is required. Finally, the
latex is stored and later packaged to be marketed. The main raw
materials for styrene butadiene latex are styrene and butadiene, both
of which are downstream derivatives of crude oil.
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The
prices of the two feedstock vary with the price of crude oil and
mostly exhibit similar trends. Based on the composition of styrene
butadiene latex, content of styrene is higher than butadiene. The
higher content of styrene facilitates improved plasticity of the end
product. The content of styrene and butadiene varies based on
end-user applications. Styrene butadiene latex finds extensive
applications in paper processing, fiber processing, glass fiber
processing, paints & coatings, adhesives, and mortar additives
among others. One of the major applications of styrene butadiene
latex is in manufacturing coated paper. Moreover, styrene butadiene
latex is generally used in the carpet industry as it is used for
carpet backing especially in manufacturing tufted carpet.
Paper
processing application accounted for the largest share of the global
styrene butadiene latex market in 2014. Styrene butadiene latex is
used for paper processing which includes manufacturing of coated
papers. In coated paper, the treatment of styrene butadiene latex
provides gloss, opacity, brightness, image quality, and printability.
Coated papers are used in advertising flyers, magazines, and
catalogues. Styrene butadiene latex is used in the manufacture of
carpets, as it acts as a binding agent to hold the tuft in the
carpet, and is crucial in carpet backing. Carpets are used both for
residential and non-residential purposes. Most manufactured carpets
are used in residential applications and the remaining is utilized in
commercial and industrial applications.
Mortar
additives are anticipated to be the most promising application of
styrene butadiene latex during the forecast period, as these
additives are used in cement in the construction industry. Mortar
additives offer compressive strength, bonding adhesion, water
resistance, and tensile strength when added to cement. Global demand
for cement due to rising construction activity is expected to
increase the consumption of styrene butadiene latex. Styrene
butadiene latex is also used as binder and for surface treatment in
glass fiber processing applications. Furthermore, it is used in
emulsion polymer for paints & coatings applications. The
inclusion of styrene butadiene latex in paints & coating provides
a classy look to walls, wood, etc. Styrene butadiene latex is also
used in other applications such as adhesives, molded foam, and hand
gloves.
Asia
Pacific is the major producer and consumer of styrene butadiene latex
accounting for more than 40% of the global market in 2014. The key
demand for styrene butadiene latex is a result of the growing carpet
industry along with high demand for paper coating in Asia Pacific. In
terms of volume, the demand for styrene butadiene latex in Asia
Pacific is expected to rise at a CAGR of 3.6% from 2015 and 2023. In
the Asia Pacific region, Japan and China account for the bulk of
demand for styrene butadiene latex. Developed regions such as Europe
and North America are expected to hold a major share of the global
market despite the slowdown of paper processing application in this
region. Latin America and Middle East & Africa (MEA) are expected
to see strong demand for styrene butadiene latex during the forecast
period. Latin America and Middle East & Africa (MEA) are
anticipated to experience significant demand due to the increasing
construction industry across the region coupled with growing usage of
carpets in this region.
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The
global styrene butadiene latex market is highly concentrated in
nature with the top two companies commanding majority of the market
share. Major companies operating in the market include Dow Chemical
Company, Trinseo S.A., BASF S.E., Synthomer Plc, LG Chem Ltd.,
Synthetic Latex Company (Pty) Ltd, NANTEX Industry Co., Ltd, Asahi
Kasei Chemical Corporation, and OMNOVA Solutions Inc. Some of the
major players of styrene butadiene latex are intensifying their
production capacity to tap the potential demand that would arise due
to growth of coated paper in the Asia Pacific market.
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