Latex Powder Market Expected to Expand at a Steady CAGR through 2023
Latex powder is a free flowing powder produced by spray drying of aqueous vinyl acetate-ethylene copolymer dispersion. Latex powder offers various advantages related to powdered form of polymer such as ease of storage, transportation and handling. The powder finds application in construction industry where it is used to improve key properties of gypsum and cement based formulations.
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Construction is one of the key end-user industries of latex powder where it is used in diverse applications such as concrete repair mortars, ceramic tile adhesives, thermal insulating adhesives, joint fillers, self leveling mortars, decorative plasters or renders, wall paper adhesives and sealing slurries among others. Construction being the major application of latex rubber powder, there is a direct correlation between the growth in construction industry and latex rubber industry. Asia Pacific has witnessed robust economic growth in the past decade and this trend is expected to continue in the next few years.
This rise in economic activity has led to growth in construction industry in this region, as well as in overall living standards. With the recovery of the global economic scenario, construction activities are expected to increase rapidly at a global scale. This growth in construction activities is anticipated to trigger the demand for latex rubber used for construction activities. Latex rubber is used to enhance the visual appeal, provide protection from harsh climatic conditions and rust and in some cases for special purpose applications. U.S has recently witness an increase in construction activities on the back drop of recent revival from the economic recession.