Synthetic latex polymers are essential components of many consumer and industrial products. These polymers are governed by several different application markets, ranging from paints, adhesives, and construction to tires, leather, and more. The synthetic latex polymers market, as studied by Kline for close to 50 years, broadly depends on a combination of industrial output trends and consumer market trends in each country or region. More specifically, their markets in individual applications depend on end-use industry factors.
Globally, North America is the biggest market of synthetic latex polymers; it is now very closely followed by China, while the fastest growth is observed in India and Southeast Asia. Each regional market presents a unique set of characteristics for the latex polymers market. While paints and coatings is the biggest application in North America, adhesives and sealants is the largest application market in China, and glove dipping is the largest in Southeast Asia. The preferences for latex chemistries also vary widely among the different regional markets. The Middle East market presents an interesting combination of the characteristics of developing and developed markets across its many countries.
The COVID-19 pandemic continues to cause disruptions in industrial activities and consumer markets in many countries globally. As the virus continues to spread, different countries are at different stages of the pandemic and countermeasures. The impact of the pandemic varies across the different application segments. Even though paints, adhesives, and construction together make up close to two-thirds of global consumption, there are around 18 sizeable application markets for synthetic latex polymers overall, and the impact on each is different.
The Middle East is one of the heavily impacted regional markets, not only because of the COVID-19 pandemic but also because of the concurrent drop in oil prices. As most application markets struggle this year, there are also many factors that could be instrumental in market recovery.
Kline’s upcoming webinar, Synthetic Latex Polymers – Post-COVID Market Developments in the Middle East and Globally will present the market scenario pre- and post-COVID-19 globally, with a special focus on the Middle East market.