Global Latex Binders Market - 2022-2029

Global Latex Binders Market - 2022-2029

Market Overview

The global latex binders market size was worth US$ XX million in 2021 and is estimated to record significant growth by reaching up to US$ XX million by 2029, growing at a CAGR of XX% within the forecast period (2022-2029).

Latex is a liquid dispersion of polymeric particles or droplets, which sounds simple enough. Synthetic latex (also known as an emulsion polymer) is more sophisticated in chemistry, mechanics and procedures. Emulsion polymerization produces a latex, usually 50% particles and % water.

Polymerization is the chemical reaction of monomers to generate polymer chains; emulsion polymerization is the polymerization of a monomer or amalgamation of monomers in an aqueous surfactant or colloidally stabilized solution to form latex.

Each year, more than 13 million tonnes of polymer emulsions are produced; the majority are sold in their original water-based state, while the remainder is dried into powder before being sold. Latex binders are a type of man-made material used to improve products' physical and mechanical qualities in various sectors. Petroleum compounds, styrene and butadiene, are the most common basic ingredients used to make latex binders. However, the latex binders are man-made.

Market Dynamics

Tremendously increasing demand for technical textiles across the globe. Improving demand for bio-based latex binders and high volatility in raw materials prices are hurdling the market's growth.

Tremendously increasing demand for technical textiles across the globe.

Technical textile is a fabric designed for a specific purpose and has unique and distinct features from conventional materials. The textile combines sophisticated technology with outstanding features such as mechanical resistance, elasticity, reinforcement, anti-dust, tenacity, thermal & fire resistance, UV ray resistance andinsulation.

Technical textiles are utilized in the automotive, personal hygiene, sports & leisure, industrial, packaging and textile industries for non-aesthetic applications. The increased usage of technical textiles in various applications is driving up demand for latex binders, which give technical textiles enhanced qualities. Solvent-resistant surface coatings, paint coatings and flocking applications require latex binders.

From construction to agriculture, packing andmedicine, technical textiles have played an important role in everyday life. Technical textiles are made using various production methods to provide high strength, lightweight, fire or water resistance, adaptability andoutstanding performance.

According to industry requirements, many types of technical textiles have played various roles. However, the introduction of the global pandemic has boosted the global technical textiles market in the medical sector due to increased demand for protective technology textiles. It has elevated the technical textiles market's growth expectations even higher than the pre-existing market's.

Furthermore, because technical textiles increase attractiveness and versatility in nonwoven fabrics, it is one of the most innovative product areas worldwide. The automobile industry's continued rise fuels the need for technical textiles. Emerging economies like China and India focus on implementing cutting-edge technologies and manufacturing processes across various industries. The increased demand for technical textiles has sparked the adoption of the product across a wide range of industries, resulting in increased demand for latex binders.

By investing a large amount in R&D, the government provides value to the rising research in technological textiles. For instance, in 2019, the Indian government introduced technical textiles policies targeting the defense and agriculture sectors. The new policy has made government extend support for domestic manufacturing and set standards to make India the hub for production units.

Improving demand for bio-based latex binders and high volatility in raw materials prices are hurdling the market's growth.

In Europe, bio-based latex became popular as a replacement for carboxylated styrene-butadiene and styrene acrylate binders. Starch, as well as other bio-based and chemical components, are used to make bio-based latex. These binders replace traditional SA and SB latex binders from the paper and board industry.

Besides being a healthier alternative to standard SA and SB latex binders, bio-based binders have other advantages for the paper and board sectors, such as greater binder performance and cost savings. It can be transported as a dry product, reducing the transaction costs associated with the shipment of SA and SB binders.

Other physical advantages of these binders include enhanced runnability, water retention, fiber coverage, coating holdout and binder performance. As a result, creating bio-based binders to replace SA and SB latex binders poses challenges, notably in the graphical paper portion of the paper & paperboard business.

Furthermore, raw material and energy costs are volatile in making latex binders. Latex binders are a type of man-made material used to improve products' physical and mechanical qualities in various sectors. Petroleum compounds, styrene and butadiene, are the most common basic ingredients used to make latex binders.

The latex binders, on the other hand, are synthetic. As a result, unexpected price hikes or cuts impact manufacturers' profit margins. Changes in energy and crude oil prices, which are utilized in the manufacturing and transportation of these materials, are also responsible for fluctuations in the final prices of the products. As a result of these variations, the pricing of finished goods is volatile.

COVID-19 Impact Analysis

Paints & coatings, automobiles, textile & carpet, adhesive & sealant, building & construction, automotive and electronics are just a few of the end-use sectors affected by COVID-19. The demand for latex binders has dropped dramatically due to the disturbance. Government rules force manufacturing facilities to close willingly due to a lack of demand.

In order to prevent the spread of COVID-19 worldwide, export activities have been substantially limited or completely halted. As a result, air, sea and land transportation has been suspended for nearly three months. These issues have reduced demand for foam products across industries, reducing the latex binders industry's market size, growth rate and prospective investment.

However, technical textile has seen unprecedented growth during COVID-19 due to increased demand for protective textile. Medical textiles are laminated and coated materials for different gowns for better protection from infections. The medical textile includes PPF gowns for the nurse, doctors and hospital staff by healthcare personnel as personal protective equipment, isolation gowns and patient and surgical gowns.

Pre-dominantly in COVID-19 technical textiles for the medical sector are also used to provide face masks, disposable nitrile gloves, FFP2 facial masks andothers, thus building the technical textile market medical sector during 2019-2020 to create market opportunities for latex binder to grow in the medical sector.

However, apart from the medical sector, the other technical textile sectors have seen a significant drop in the market growth due to the sudden shutdown of various production and manufacturing of technical textiles due to the COVID-19 lockdown, thus, leading to hampering the latex binder market.

Segment Analysis

The global latex binders market can be segmented on type, end-user and region.

Good handling properties, simplicity of application and strong bonding strength are only a few factors that improve the styrene-butadiene binders market.

The global latex binders market is segmented based on type into styrene acrylic, styrene-butadiene and others. Latex binder manufacturers significantly demand the styrene-butadiene binder used in various end-use sectors. Styrene-butadiene rubber and styrene-butadiene copolymer are two types of styrene-butadiene rubber. Good handling properties, simplicity of application and strong bonding strength are only a few of the benefits of styrene-butadiene binders. Because of their great aging resistance, these binders are expected to dominate the market.

Furthermore, SB Binders outperforms other paper coatings applications, notably for wet applications like paper drink carriers. Butyl acrylate-based solutions and the growing starch content in more traditional paper grades compete with SB Binders in other applications.

SB Binder's binders are commonly used on coated printing papers, including magazines, annual reports, label material, advertising flyers and catalogs. The rest coats commercially made coated paperboard items like folding cartons for food packing.

SB Binders enhance both brightness uniformity and print quality. It also improves glueability, stiffness, scoring, ink and varnish performance. Back coatings for tufted carpets are another prominent application for SB Binders. Binders and back coatings retain the tufts, anchoring the pile fibers improving stability and preventing fraying or tuft loss at the carpet's cut edges.

The Binders serve as a laminating glue for a secondary backing (most commonly polypropylene). Still, it can also serve as the carpet's real backing in some cases (so-called unitary back carpets). The styrene in SB Binders varies depending on the final product's physical characteristics.

Geographical Analysis

Asia-Pacific’s latex binders market is driven by the region's substantial manufacturing base for SB latex binders and the increasing use of this latex binder in various end-use industries.

Asia-Pacific is expected to be the largest latex binders market during the projected period. China, Japan, South Korea, India, Thailand, Indonesia and Asia-Pacific were the region's largest latex binders consumers in terms of value and volume in 2020. The region's latex binders market is being driven by the region's substantial manufacturing base for SB latex binders and the increasing use of these latex binders in various end-use industries.

Furthermore, the adhesives sector is a major consumer of styrene-butadiene. With an estimated manufacturing capacity of 8 million tonnes, Asia Pacific leads the worldwide production of adhesives, propelling the SB binder market. China and Japan are important carpet producers, accounting for over 40% of the total global carpet output.

Asia-Pacific region's paper sector is booming, propelling the market forward. Asia-Pacific is a major carpet and paper manufacturer and a large market for paper-based products, including textiles and apparel. The carpet and paper industries in Asia-Pacific are expanding rapidly, indicating significant growth opportunities for product demand in the coming years.

Competitive Landscape

The global latex binders market is highly competitive with local and global companies. Some prime companies contributing to the market's growth are Trinseo, BASF, Celanese Corporation, Dow, DIC Corporation, Wacker Chemie, Arkema, Synthomer Plc and Omnova Solutions, Dairen Chemical Corporation and others.

The major companies are adopting several growth strategies such as acquisitions, product launches and collaborations, contributing to the global growth of the latex binders market.

In May 2020, Trinseo revealed the use of their SB latex binders in building geogrid applications. Geogrids are often used as a reinforcement treatment on soft soil foundations, roadbeds, dams, slopes and mining projects to strengthen foundations and improve their protective qualities, consequently increasing bearing capacity and material stability. The styrene-butadiene (SB) latex from Trinseo is a key binding material for geogrids, allowing for superior fiber placement, adhesion and retention. This product helps infrastructure projects improve their overall quality and durability.

BASF

Overview: BASF develops chemistry for a long-term future. The BASF Group's approximately 122,000 people work to help the clients succeed in nearly every sector and country. Chemicals, materials, industrial solutions, surface technologies, nutrition & care and agricultural solutions are the six segments that make up the company’s offering. In 2018, BASF made roughly €63 billion in sales.

Product Portfolio:

STYROFAN® 1186: STYROFAN 1186 is a styrene-butadiene emulsion polymer that can be combined with concrete on-site to make latex-modified concrete with higher compressive strength than untreated concrete. STYROFAN 1186 can be used in ordinary concrete or extremely early set/rapid set concrete to satisfy reduced building durations. Wherever bridge decks are treated with chlorides and salt or exposed to coastal conditions, latex-modified concrete with STYROFAN 1186 is an experimentally proven solution for attaining strength and durability. The FHWA has pre-qualified STYROFAN 1186 under FHWA RD-78-35.

Key Development

In April 2021, Omya and BASF SE extended their paper and board coatings relationship for a minimum of four years. BASF SE is projected to continue to supply its binders and coating additives to formulate paper and board coatings under this agreement.

Why Purchase the Report?
• Visualize the global latex binders market segmentation by type, end-user and region, highlighting key commercial assets and players.
• Identify commercial opportunities in the latex binders market by analyzing trends and co-development deals.
• Excel data sheet with thousands of global latex binders market-level 4/5 segmentation points.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players

The global latex binders market report would provide approximately 53 market data tables, 45 figures and 210 pages.

Target Audience 2022
• Service Providers/ Buyers
• Paints & Coating Companies
• Research Laboratory
• Manufacturers
• Textile & Carpet companies
• Distributors