VP Latex Market Size, Share & Industry Analysis, By Product Type (Acrylic Latex, Nitrile Latex, Others), By Application (Tire, Belts, Hose, Others), By End Use Industry (Automotive, Aerospace, Others) And Regional Forecast, 2024-2032

Vinyl pyridine (VP) latex is also called vinyl pyridine latex, is a terpolymer of butadiene, 2-vinyl pyridine, and styrene monomer. It is synthesized in such a way to withstand extreme climatic conditions. The vinyl pyridine latex designed to offer a strong bond between rubber compounds (NR, SBR, CR, and NBR) and synthetic fabrics (nylon, rayon, polyester, glass fiber, and aramid). Furthermore, VP latex offers excellent mechanical, chemical stability, excellent adhesion, smooth & clean processing, and uniform fabric properties. These properties surge the demand for vinyl pyridine latex in various applications which include automobile tires, conveyor belts, and hoses.

Rising demand for tires in the automotive industry will fuel the need for vinyl pyridine latex. The VP latex is mostly used in tire cord dipping process. It also provides good chemical stability, strong bond, strong adhesion, and low foaming characteristics for high-speed dipping process. These properties surge the demand for vinyl pyridine latex in the application of the tire. The innovation in automotive tires coupled with the introduction of the hybrid vehicle will fuel the demand for automotive tires, which further surge the need for vinyl pyridine latex. Hence, these factors will drive the growth of the VP latex market during the forecast period.

However, VP latex has a poor stretching effect and lower tearing strength. This further reduces the use of vinyl pyridine latex and raise the demand for natural latex. Hence, these factors are anticipated to restrict the growth of the VP Latex market.

Market Segmentation:

Based on product type, the VP Latex market is segmented into acrylic latex, nitrile latex, and others. Based on application, the market is segmented into tire, belts, hose, and others. Based on end-use industry, the market is segmented into automotive, aerospace, and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Key Players Covered:

The key players in the VP Latex market includes Jubilant Industries Ltd., EXELON BIOCHEM & ADVANCED MATERIAL LTD., Smart Sync Services, Apcotex Industries Limited, OMNOVA, Jiangsu Yatai Chemical Co. Ltd., Zeon Corporation, Shandong Boyi Chemical LLC, Zibo Senlos Import & Export Co.,Ltd, SEAIR EXIM SOLUTIONS, and Zhejiang NetSun Co., Ltd.

Key Insights

• Key Emerging Trends – For Major Countries


• Key Developments: Mergers, Acquisition, Partnership, etc.


• Latest Technological Advancement


• Insights on Regulatory Scenarios


• Porters Five Forces Analysis

Regional Analysis:

The rising demand for VP Latex can be seen in the Asia Pacific and anticipated to witness the highest growth during the forecast period. The growth is attributed to the rising demand for VP latex in the tires, which is majorly used in the automotive and aircraft industry. The rapidly growing automotive industry in Europe will fuel the demand for acrylic latex. Furthermore, adoption of hybrid vehicles and innovation in tires will surge the product demand in this region. In North America, the growth is owing to the large production of vinyl pyridine latex in the US, Canada, and Mexico. The Middle East & Africa is anticipated to witness significant growth, owing to the rising product adoption in the tires and hoses. 

Segmentation

VP Latex Market Industry Developments

• In May 2020, Trinseo completed the acquisition of Vinyl Pyridine Latex Business from Synthomer plc. This acquisition will help the company to expand its latex binders business in the coatings and tires applications.