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09-10-2015

CIS Region to Gain Importance in the Synthetic Latex Polymers Market

The recently published analysis "Synthetic Latex Polymers: Global Business Analysis and Opportunities" by consulting and market research firm Kline finds that while consumption of synthetic latex polymers in the CIS region remains low, the region offers high growth potential.

Europe and CIS together account for a total 23% of the global synthetic latex polymers market in 2014. Import substitution programs implemented by the Russian government along with the strategic development of chemical industry plans across the majority of CIS countries will drive the synthetic latex market in the region, estimated to increase at 2.6% through 2019, according to Kline. However, the political and economical instability in the region could decelerate this growth.

The consumption of different lattices varies widely between the two regions, notably due to the contrasting application split. While CIS region styrene acrylics lead by a large amount, followed by polyvinyl acetate, in Europe, carboxylated styrene-butadiene (X-SB) remains the leading synthetic latex polymer in volume terms, and styrene acrylics represent the largest chemistry in terms of value. The product split differs even from one country to another and from one application to another.

Due to environmental and market conditions increasingly pressing for the petrochemical industry, vinyl acetate-ethylene (VAE) is benefiting from its favorable application mix, competitive pricing, and environmental-friendly profile, expected to be the fastest growing polymer between 2014 and 2019. VAE’s relative low cost is due to the favorable situation in the ethylene market, mainly as a result of the increased extraction of shale gas. The strengthening of VOC regulations in Europe has also bolstered VAE’s growth.

Due to the market’s maturity and large number of active players, rivalry is high on the European synthetic latex polymers market. With the increasing consolidation, the competition is also increasing on the CIS market, which was extremely dynamic in terms of the supplier landscape development over the last four years. Among the changes were an entrance of new, mainly local suppliers, including Novojiazot, Akrilat-Kz, and SWAN, among others, and an increase in production capacities by prominent local suppliers, such as Akrilan and Homa Group. BASF and Dow Chemical are the two largely present suppliers in both regions where the supplier landscape is fragmented, albeit for the top six suppliers in Europe accounting for two-thirds of the total European market. The variety of products and applications are a key factor explaining this market fragmentation.

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