Styrene butadiene latex is an emulsion polymer that contains styrene and butadiene, which are downstream derivatives of crude oil. Proportion of styrene is higher in styrene butadiene latex. This facilitates improved plasticity of the product. Content of styrene and butadiene fluctuates depending on end-user applications. Styrene butadiene latex is extensively used in applications such as paper processing, fiber processing, glass fiber processing, paints & coatings, adhesives, and mortar additives. One of the major applications of styrene butadiene latex is in the manufacture of coated paper. Additionally, styrene butadiene latex is usually used in the carpet industry, where it is employed for carpet backing, especially in the manufacture of tufted carpets.
Paper processing and fiber processing applications of styrene butadiene latex account for over 70% of the global styrene butadiene latex consumption. Key factors driving the demand for styrene butadiene latex are growth in carpet industry and high demand for paper coating in Asia Pacific. Styrene butadiene latex provides fast drying, higher adhesion to substrates, and greater binding strength during carpet manufacture. This latex acts as a building block for carpets on which the tuft is placed. Carpets are typically used for both residential and non-residential purposes. Residential applications account for major share of the carpets market, while commercial and industrial applications hold rest of the market share. Usage of styrene butadiene latex in paper coatings offers opacity, smoothness, gloss, brightness, and printability. Coated papers are used for various purposes such as advertising flyers, magazines, and catalogues. Some of the major players in the styrene butadiene latex market are expanding their production capacity in order to explore the potential demand that would arise due to growth of coated paper in Asia Pacific.
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The mortar additives segment of the styrene butadiene latex market is anticipated to gain potential during the forecast period. Rise in the global demand for cement due to increase in construction activities is likely to fuel the consumption of styrene butadiene latex. Presence of styrene butadiene latex in mortar additives provides bonding adhesion, compressive strength, water resistance, and tensile strength among others. These advantages of mortar additives, in turn, are likely to boost the demand for styrene butadiene latex in the cement market.
Asia Pacific is the major producer and consumer of styrene butadiene latex, accounting for over 40% share of the global market. China and Japan are primarily driving the demand in this region. Asia Pacific is dominating the market primarily due to increasing demand for coated paper. In terms of volume, demand for styrene butadiene latex in Asia Pacific is expected to rise at a CAGR of 3.6% between 2015 and 2023. Japan and China account for the bulk of demand for styrene butadiene latex. Developed regions such Europe and North America are expected to hold major share of the global styrene butadiene latex market despite slowdown of paper processing application in these regions. Demand for styrene butadiene latex in Latin America and Middle East & Africa (MEA) is anticipated to rise significantly during the forecast period. This is due to increase in construction industries in these regions coupled with rising demand for carpets.
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The global styrene butadiene latex market is fragmented in nature; several companies occupy the distributed market share. However, Trinseo S.A. and BASF SE hold significant share of the global styrene butadiene latex market. Major companies operating in the market include Trinseo S.A., BASF S.E., The Dow Chemical Company, Asahi Kasei Chemical Corporation, Synthomer plc, LG Chem Ltd., and OMNOVA Solutions, Inc.
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