Styrene Butadiene (SB) Latex Market Size

Styrene Butadiene Latex Market Size

Styrene Butadiene (SB) Latex Market size was more than USD 7 billion in 2016 and will witness 3.5% CAGR during the projected timespan.
 

Rising demand for paper and steadily growing carpet industry will play a crucial role in accelerating styrene butadiene latex market size over the forecast duration. Paper industry is a key end-user, hence technological advancements in paper industry will drive product demand over the next few years. The total paper and paperboard production was approximately 407.6 million tons in 2015 which was a significant rise from 370.5 million tons in 2009. In 2014, according to Pulp and Paper International, China was the biggest producer and consumer for paper, amounting to 1 million tons of paper production and consumption. The paper industry is poised to expand at significant rate over the forecast timespan. Asia Pacific and Latin America having huge growth potential in paper industry and similarly for the industry growth.
 

Carpet industry is an important end-user in styrene butadiene latex market. The carpet industry is likely to witness tremendous growth over the forecast timeframe. China, Japan and the U.S. are major carpet producers and account for more than 40% of total carpet production across the globe. Adhesives industry is a key user of styrene butadiene market. Asia Pacific led the global adhesives production in 2014, with production capacity of approximately 8 million tons and will subsequently propel the SB latex market size.
 

The only major challenge for styrene butadiene latex market is the constant fluctuation in raw material prices, which lead to instability in SB latex production. Raw materials in the industry includes butadiene, styrene, emulsifier and water. Both styrene and butadiene are downstream derivatives of crude oil. For instance, OMNOVA Solutions increased price of USD 0.12 per dry pound on SB latex for carpet and related industries due to escalation in raw material costs. This will directly affect business growth in the next few years. However, R&D initiatives by market share contributors to produce styrene butadiene latex through different methods, will positively influence product demand during the forecast timespan.