Styrene-butadiene latex is a common synthetic rubber derived from styrene and butadiene monomers. It differs from natural latex used in medical gloves and styrene-butadiene rubber used in tire production. The global styrene-butadiene latex market is estimated to reach $9.12 billion by 2023, driven by growth in the paper coating industry. Production of styrene-butadiene latex is highly fragmented worldwide, with the two largest producers controlling over 25% of the market.