LONDON--(BUSINESS WIRE)--Technavio’s latest chemicals and materials industry report covers the present scenario and growth prospects of the global synthetic latex polymers market 2015-2019.
In this report, Technavio’s plastics, polymers, and elastomers research experts announce their key market highlights for the global synthetic latex polymers market. Their findings include:
Gradual shift toward water-based synthetic latex polymer dispersions leading to growth of the global synthetic latex polymers market
Technavio expects that the global synthetic latex polymers market will grow at a moderate pace during the forecast period, posting a CAGR of just close to 4%, despite the increased application of these polymers in various industries, such as construction, paint manufacturing, and adhesives. Emulsion polymers are rapidly replacing their solvent-based counterparts because of their eco-friendly characteristics. Governments across the world are heavily emphasizing the use of emulsion polymers for decorative and industrial painting applications because of their minimal volatile organic compounds (VOC) content.
“Volatile organic compounds are released into the atmosphere as solvent-based paints and coatings dry, making them hazardous for both human health and the environment. They can cause sick building syndrome in humans after prolonged exposure and can lead to acid rain and global warming. This has resulted in the replacement of solvent-based paints and coatings with various water-based synthetic latex polymers worldwide because of the eco-friendly characteristics of the latter,” says Debasish Nayak, a lead plastics, polymers, and elastomers analyst at Technavio.
In this regard, water-based PU dispersions are increasingly being used in the paint and coatings industry to replace their solvent-based counterparts. These dispersions have negligible VOC content and are better suited for the construction of healthcare buildings and cleanrooms.
APAC: leading consumer of synthetic latex polymers
In terms of volume, the synthetic latex polymers market in APAC shipped over 4 million dry tons in 2014 and is expected to ship more than 5 million dry tons by 2019, growing at a CAGR of over 4%. China, India, and Japan were the leading countries in terms of consumption in the synthetic latex polymers market in the region in 2014.
Increased economic and industrial development in China and India is beneficial to the synthetic latex polymers market in APAC. Synthetic latex polymer-based emulsions are increasingly being used in the construction and paints and coatings industries in this region because of increased awareness of the harmful effects of VOCs released by solvent-based paints.
The paint and coatings industry projected to be the major end-user of synthetic latex polymers through 2019
The report states the paint and coatings segment as the major end-user of synthetic latex polymers with the majority of the consumption share in 2014. The growth of this segment is being hugely affected by the rapid growth of the house remodeling and commercial housing segments in APAC. The aforementioned segment was followed by the adhesives and sealants, paper, and construction end-user segments.
“The consumption trend is expected to remain the same over the next five years, with the paper industry remaining in the top three end-users' segment. Synthetic latex polymer usage in paint and coating applications is driven mainly by a stringent regulatory policy frame work that insists manufacturers use low VOC content in their products. Consumer awareness of green and sustainable paint and coating products is also helping to drive the overall market,” says Debasish.
The report also states that vinyl acetate ethylene, which is mostly used in architectural paints, has the tendency to benefit from this trend due to good environmental credentials, i.e., low VOC content.
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- Global Emulsion Polymers Market 2015-2019
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