Europe Styrene Butadiene (SB) Latex Market Analysis Europe - Germany, France, Italy, Spain, Rest of Europe - Size and Forecast 2024-2028

Europe Styrene Butadiene Latex Market Size 2024-2028 

The Europe styrene butadiene (SB) latex market size is forecast to increase by USD 331.19 million at a CAGR of 3.54% between 2023 and 2028. The market is witnessing significant growth due to the increasing demand for SB latex in various industries such as paper, carpet, and adhesives. The paper industry is a major consumer of SB latex, particularly in the production of coated paper and printing and packaging applications. In the carpet industry, SB latex is used as a binder in the manufacturing process, contributing to its growing demand. The carboxylated SB latex, which is used as an emulsifier in adhesives, is also experiencing increased usage due to its superior performance characteristics. However, the market growth is influenced by factors such as fluctuations in crude oil prices, which impact the production costs of butadiene and styrene monomers, key raw materials for SB latex.

Furthermore, another trend gaining momentum in the market is the rising preference for bio-based latexes, which offer environmental benefits and improved performance.

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Styrene Butadiene Latex (SBL) is a synthetic polymer emulsion widely used in various industries, including paper processing, mortar additives, coatings, adhesives, and sealants. The European SBL market is driven by the growing demand from the paper industry, particularly in the production of coated paper for printing and packaging applications. The market can be segmented into low, middle, and high segments based on butadiene content. The low segment, with a butadiene content of up to 30%, is primarily used in paper processing and mortar additives. The middle segment, with a butadiene content of 30-65%, is used in the carpet industry, adhesives industry, and wood products.

Furthermore, the high segment, with a butadiene content of over 65%, is used in glass fiber adhesives and general industrial polymers. The European SBL market is expected to exhibit a y-o-y growth rate due to the increasing demand from the coatings and adhesives industry. The use of SBL in the production of paints and coatings is also on the rise, due to its excellent properties such as high adhesion, flexibility, and resistance to chemicals and weathering. SBL is produced by the polymerization of butadiene and styrene in the presence of an emulsifier and water. The raw materials, butadiene, and styrene, are sourced from refineries and petrochemical plants.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Type
  • Low
  • Medium
  • High
• Application
  • Paper processing
  • Fiber and carpet processing
  • Glass fiber adhesives
  • Adhesives
  • Others
• Geography
  • Europe
    • Germany
    • France
    • Italy
    • Spain

By Type Insights

The low segment is estimated to witness significant growth during the forecast period. Styrene Butadiene (SB) latex is extensively used in various industries, including paper coatings and carpet backing, due to its superior properties. However, there is a growing trend towards using eco-friendly alternatives to SB latex, such as acrylic, vinyl, and polyurethane, in response to environmental concerns. One way to make SB latex more sustainable is by reducing its butadiene content. Butadiene is a hydrocarbon compound that contributes to volatile organic compound (VOC) emissions, which can negatively impact the environment. SB latex with low butadiene content, also known as Extended Styrene-Butadiene Latex (ESBL) and Styrene-Sulfonated Butadiene Latex (S-SBL), is gaining popularity due to its improved environmental profile.

Furthermore, these water-based products offer enhanced mechanical properties, including increased tensile strength and abrasion resistance, making them suitable for demanding applications. Moreover, they provide better chemical and UV resistance, ensuring the durability of coatings and adhesives. Consequently, the demand for low-butadiene SB latex is expected to increase in green building projects and other industries that prioritize sustainability.

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The low segment accounted for USD 730.16 million in 2018 and showed a gradual increase during the forecast period.

Our market researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Market Driver

Growing demand for SB latex in Europe is the key driver of the market. The European Styrene Butadiene (SB) Latex Market is experiencing notable growth, particularly in countries such as Germany, the UK, and France. This expansion is primarily driven by the increased demand for paper and paperboard in industries like construction and packaging. The European Union's efforts to reduce single-use plastic consumption by 20% by 2025 is further fueling the demand for paper and paperboard, leading to a higher consumption of SB latex in these sectors. In the EU, Belgium stands out as a significant player in the carpet industry, followed by the Netherlands. SB latex, a synthetic polymer emulsion, is widely used in various applications including paper processing, mortar additives, coatings, adhesives, and sealants in these industries.

The low segment of the SB latex market includes applications with butadiene content below 30%, while the high segment consists of those with butadiene content above 30%. Overall, the European SB latex market is poised for steady growth due to the increasing demand for sustainable and eco-friendly alternatives in various industries.

Market Trends

Rising preferences for bio-based latexes is the upcoming trend in the market. The European market for Styrene Butadiene (SB) latex has witnessed significant growth due to its extensive applications in various industries, particularly in paper processing and as mortar additives. However, concerns regarding the environmental impact and potential health hazards associated with synthetic polymer emulsions, such as SB latex, have led to an increasing demand for alternative, eco-friendly options. One such alternative is bio-based latex, derived from natural sources like starch. This trend is particularly noticeable in the paper industry, which is the largest end-user of SB latex, as paper companies seek to reduce their reliance on petroleum-derived latex to mitigate price volatility in styrene and butadiene.

Furthermore, manufacturers of SB latex have responded by developing bio-based latex binders, such as EcoSynthetix's EcoSphere, for use in coatings for paperboard, catalogs, and packaging board. The adoption of bio-based latex is not only environmentally friendly but also more sustainable, as it consumes less energy compared to SB latex and other synthetic latex binders.

Market Challenge

Fluctuations in crude oil prices is a key challenge affecting the market growth. The European Styrene Butadiene (SB) latex market experiences significant fluctuations due to the volatility of crude oil prices, which directly impact the demand for this synthetic polymer emulsion. As crude oil is a primary source for the production of SB latex's key raw materials, such as butadiene and styrene monomers, price instability in crude oil markets can lead to increased production costs for manufacturers. For instance, the average price of ethylene, a crucial raw material, rose from approximately USD697 per metric ton in 2020 to USD1,014 per metric ton in July 2021, a significant increase of over 45%. This price hike poses a significant challenge for SB latex manufacturers, as the higher production costs can negatively impact their profitability.

Furthermore, the SB latex market in Europe caters to various industries, including paper processing, mortar additives, coatings, adhesives, and sealants in the low and high segments.

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Arkema Group -  The company offers styrene butadiene latex such as ENCOR DL 215, ENCOR DL 313.

The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• ARLANXEO Holding BV
• Asahi Kasei Corp.
• BASF SE
• Bostik Ltd.
• Dow Chemical Co.
• Eni SpA
• JSR Corp.
• Kumho Petrochemical Co. Ltd.
• Lanxess AG
• LG Chem Ltd.
• LyondellBasell Industries N.V.
• Mallard Creek Polymers
• RPM International Inc.
• Saudi Basic Industries Corp.
• SIBUR International GmbH
• Sumitomo Chemical Co. Ltd.
• Synthomer Plc
• Trinseo PLC
• Zeon Corp.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

Styrene butadiene latex (SBL), a synthetic polymer emulsion, is a significant player in various industries including paper processing, mortar additives, coatings, adhesives, sealants, paper coatings, carpet backing, and specialty coatings. The European market for SBL is driven by its wide application in the paper industry for coated paper production, printing and packaging, and in the carpet industry for tufted carpets. The market can be segmented into low segment, with butadiene content below 30%, and high segment, with butadiene content above 30%. SBL is used in green building trends due to its performance attributes such as water resistance, adhesive properties, flexibility, hardness, and abrasion resistance.

Furthermore, in recent years, alternative products like acrylic, vinyl, polyurethane, ESBL, and SSBL have gained popularity due to their environmental impact and cost-effectiveness. However, SBL's high-performance attributes continue to make it a preferred choice in high-performance adhesives, construction boom, and specialty coatings. Major players in the European SBL market include Synthomer, Kraton Performance Polymers, Trinseo, and others. These companies have a multinational presence and a well-established distribution network. The market is expected to exhibit a y-o-y growth rate due to the increasing demand from the furniture industry, wood products, and general industrial polymers. The market is also driven by the increasing demand for water-based products and the growing trend towards green building.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across Europe
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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