Study Identifies China as Second-Largest Market for Synthetic Latex Polymers
PARSIPPANY, NJ – Accounting for almost 25% of the global market share, China is the second-largest consumer of synthetic latex polymers after North America, according to the China chapter report from Kline’s continuous program, Synthetic Latex Polymers: Global Business Analysis and Opportunities. A considerably higher GDP growth compared to the developed world, low industry regulations, and stability in raw material prices appeal to multinational corporations and domestic suppliers, increasing market rivalry dramatically.
“While in most regional markets paints and coatings is the largest consumer of synthetic latex polymers, adhesives and sealants is the largest end use application in China,” notes Shilpi Mehrotra, the project’s lead. “This stems from China being the largest producer globally of biaxially oriented polypropylene tapes for packaging that use large volumes of latex polymers in pressure-sensitive adhesives.” The rising construction segment further drives the demand for adhesives and sealants and paints and coating in terms of both volume and value. In product terms, X-SB dominates the Chinese market by volume, as this polymer is widely used in the well-developed paper industry, while pure acrylics is the largest product in value terms. However, the market is still price sensitive, limiting the use of high-value products.