Styrenic Block Copolymers Market size is estimated to reach the market value around USD 11 billion by 2026 with CAGR of 6.5 % over forecast period 2019-2026.
LOS ANGELES, May 29, 2019 (GLOBE NEWSWIRE) -- Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Styrenic Block Copolymers Market (By Product: Styrene-Isoprene-Styrene (SIS), Styrene-Butadiene Styrene (SBS), Hydrogenated Styrenic Block Copolymer (HSBC); By Application: SBS [Paving & Roofing, Footwear, Adhesives & Sealants, Polymer Modification, Wires & Cables, Others], HSBC [Adhesives & Sealants, Polymer Modification, Medical Devices, Others], SIS [Polymer Modification, Paving & Roofing, Adhesives & Sealants, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026”.
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A key factor promoting the utilization of modified polymer bitumen and high-performance plastics is the growing demand for advanced materials in construction & construction to meet structural requirements. Structuring applications requiring strength and lightweight materials consist of copolymers in comparison to traditional metals as reinforcements.
Moreover, the demand for SBCs is likely to increase with regulations from a number of governments that promote sustainable construction practices for energy utilization and reduce building waste. In 2018, the application for paving & roofing accounted for 34.0% of the total volume. The change in the trend towards alternative routes for production using bio-based commodities has an impact on the dynamics of the industry because it is recyclable and reusable, allowing PVC, rubber and other conventional materials to be substituted.
With its main applications from pavings & toovers to adhesives & dyes Styrene Butadiene Styrene (SBS) was the most commonly used. In 2018, the segment was worth USD 4.94 billion. In 2018 the total volume of SBS was nearly 57 percent of footwear, polymer modifications and adhesive applications. Increasing demand for SBS for polymers such as high impact polystyrene, ABS, EVOH, polyolefine and mass moulding compounds will contribute to future growth of the segment in terms of impact strength, durability and flexibility.
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In asphalt (bitumen) modification, use of SBC has been increasing. The product is for polymer bitumen (PBB) binders for road building, waterproofing and mastic materials. The improved compatibility of the components of the PBBs has a qualitative impact on the properties and the ultimate properties of road floors. A further important factor in the application of polymer modified bitumen and high-performance plastics is the increased use of advanced construction materials that meet structural requirements such as lightweight and strength.
China is the largest consumer and SBC manufacturer in the world. The United States (imports) and Taiwan (exports) are its major trading nations. Over the last few years, US imports from South Korea (mainly SBS), and Taiwan's exports to China have increased significantly. The Chinese Ministry of Transport has launched a new policy requiring the use of paving-modifying materials to build province's highways. Moreover, the adoption in China of "One Belt, One Road" by domestic infrastructure policy also promotes the use of SBC in asphalt changes.
Market Snapshots
The market demand on the global styrene block of copolymers was 2.22 kilotonnes in 2018, with an estimated 3.08 kilotonnes, which will record a CAGR of more than 4.5% between 2019 and 2026.
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Asia-Pacific was the main consumer and represented more than 45% of the total volume in 2018.
The region has good prospects for end-use industries. The region's strong growth is driven by the demand for adhesives, dressers, wires and high-performance plastic products, thus boosting the demand for products.
The market is also strongly represented by integrated companies which are also active in the production of raw materials.
Key Players & Strategies
The global market is highly competitive and consolidated, with few companies representing the world's largest share of production. In order to innovate product and processing technology, most of the top companies make huge R&D investments. SINOPEC, Zeon Corporation, LG Chemicals, BASF SE, Eastman Chemical Company, Chevron Phillips, Elastomers Dynasol, LCY Group, Polyone and Versalis are all key industry participants. Momentive Specialty Chemicals, Kraton Performance Polymers, are another important players., Asahi Kasei, JSR Corp., Kraton Performance Polymers, Kogyo Kabushiki Kaisha (DENKA) and TSRC, Denki Kagaku Kaisha (DENKA).
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