Dublin, Jan. 12, 2021 (GLOBE NEWSWIRE) -- The "Styrenic Block Copolymer Market Size, Share & Trends Analysis Report by Product (Styrene Butadiene Styrene, Styrene Isoprene Styrene, Hydrogenated Styrenic Block Copolymer Gels), by Region, and Segment Forecasts, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
The global styrenic block copolymer market size is anticipated to reach USD 10.4 billion by 2027, expanding at a CAGR of 4.6% from 2020 to 2027.
The market is expected to witness growth on account of rising product demand in various applications such as paving and roofing, adhesives and sealants, polymer modification, medical devices, and footwear.
Growing footwear industry is expected to substantially fuel the growth of the market. Constant product innovations, changing lifestyles, and increasing number of working women globally are significantly fueling the demand for footwear. In addition, the growth in sports industry is also potentially fueling the demand for footwear. Factors such as rising consumer spending, growing health consciousness, and rising concerns about fitness are encouraging people to participate in sports and engage in fitness activities. This, in turn, is driving the growth of footwear industry, thereby boosting the demand for styrenic block copolymers.
On the basis of product, the market is segmented in styrene-butadiene-styrene, styrene-isoprene-styrene, and hydrogenated styrenic block copolymers gels. Among them, the Styrenic Block Copolymer (SBS) product segment dominated the market in 2019. Increasing traffic and harsh climate are fueling the demand for safer and more sustainable infrastructure. This, in turn, is further anticipated to create substantial demand for styrenic block copolymer.
The SIS segment is expected to advance at a growth rate of 4.2% over the forecast period. SIS copolymer blocks find its use in adhesives and sealants application. Rising demand for SIS-based copolymer adhesives in diapers application is further anticipated to fuel segment growth. In addition, increasing concern regarding hygiene and rising awareness about health, especially in developing countries, are expected to propel the demand for baby diapers, thereby augmenting the demand for styrene isoprene styrene.
Styrenic Block Copolymer Market Report Highlights
- In Asia Pacific, the market was valued at USD 3.2 billion in 2019 and is estimated to witness a CAGR of 5.5% from 2020 to 2027. The significant growth in the construction industry in countries such as India, and China is expected to drive the market.
- North America accounted for second prominent market in 2019 and is expected to maintain its position over the forecast period.
- The hydrogenated styrenic block copolymer segment is expected to witness fastest growth over the forecast period. Increasing demand for HSBC from various applications such as polymer modification, adhesives, and medical devices is propelling market growth.
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Styrenic Block Copolymer Market Variables, Trends & Scope
3.1 Styrenic Block Copolymer Market Segmentation & Scope
3.2 Market Lineage Outlook
3.2.1 Global Plastics Market Outlook
3.3 Penetration & Growth Prospect Mapping
3.4 Value Chain Analysis
3.4.1 Raw Material Outlook
3.5 Technology Overview
3.6 Regulatory framework
3.6.1 Styrene Butadiene Styrene
3.6.2 Styrene Isoprene Styrene
3.7 Market Dynamics
3.7.1 Market Driver Analysis
3.7.1.1 Increasing Demand In Medical Application
3.7.1.2 Growing Demand From Footwear Industry
3.7.1.3 Increasing Demand From Baby Diapers
3.7.2 Market Restraint Analysis
3.7.2.1 Fluctuating Raw Material Prices
3.8 The Impact Of Covid-19 On The Global Styrenic Block Copolymer Market
3.9 Business Environment Analysis: Styrenic Block Copolymer Market
3.9.1 Porter's Five Forces Analysis
3.9.2 Pestel Analysis
Chapter 4 Styrenic Block Copolymer Market: Product Estimates and Trend Analysis
4.1 Styrenic Block Copolymer Market: Product Movement Analysis & Market Share, 2019 & 2027
4.2 Styrene Butadiene Styrene (Sbs)
4.3 Styrene Isoprene Styrene (Sis)
4.4 Hydrogenated Styrenic Block Copolymer (Hsbc)
Chapter 5 Styrenic Block Copolymer Market: Regional Estimates and Trend Analysis
5.1 Styrenic Block Copolymer Market: Region Movement Analysis & Market Share, 2019 & 2027
Chapter 6 Competitive Landscape
6.1 Company Heat Map Analysis
6.2 Vendor Landscape
6.3 Competitive Environment
6.4 Strategy Framework
Chapter 7 Company Profiles
7.1 Company Overview
7.2 Financial Performance
7.3 Product Benchmarking
- BASF SE
- Zeon Corporation
- Versalis S.P.A.
- Ineos Styrolution Group Gmbh
- Denka Company Limited
- En Chuan Chemical Industries Co., Ltd.
- Jsr Corporation
- Kumho Petrochemical
- Eastman Chemical Company
- Chimei
- Kraton Corporation
- China Petrochemical Corporation
- Lyc Chemical
- TSRC
- Grupo Dynasol
- LG Chem
- Asahi Kasei Corporation
- Zhili Tpes Co., Ltd.
- RTP Company
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