New York, United States , July 09, 2024 (GLOBE NEWSWIRE) -- The Global Styrenic Block Copolymer Market Size is to Grow from USD 5.68 Billion in 2023 to USD 9.48 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.26% during the projected period.
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Styrene block copolymers are a common type of polymer that is used in thermoplastic elastomers. Thermoplastic copolymers are highly processable and elastic, much like rubber. Styrenic block copolymer is widely used in the manufacture of landing fields, waistbands, buttons, ear and side panels, and leg elastics in newborn diapers. Due to the elastomeric textiles improved comfort and fit, newborn diaper manufacturers created compounds including SBS, SIS, SEEPS, SEPS, and SEEPS. These substances possess the capability to increase the industry's requirement for styrenic block copolymers. The construction sector makes extensive use of styrenic block copolymers, particularly for products like adhesives, sealants, coatings, and insulation. Governments and private investors are focusing on building infrastructure in order to boost economic growth, which is increasing demand for SBC-based products in the construction industry. Aging infrastructure has to be updated and maintained in many parts of the world to ensure efficiency and safety. However, the price of oil has become much more volatile. There has been an effect on thermoplastic elastomer costs. Due to the volatility of the oil price, the price of butadiene, the main raw material utilized in the creation of the product, has varied.
Browse key industry insights spread across 230 pages with 110 Market data tables and figures & charts from the report on the " Global Styrenic Block Copolymer Market Size, Share, and COVID-19 Impact Analysis, By Product (Styrene-Butadiene-Styrene (SBS), Styrene-Isoprene-Styrene (SIS), Styrene-Isoprene Butadiene Block Copolymer (SIBS), and Hydrogenated Styrenic Block Copolymers (HSBC)), By Application (Paving & Roofing, Footwear, Advanced Materials, Adhesives, Sealants & Coatings, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
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The styrene-butadiene-styrene (SBS) segment is anticipated to hold the greatest share of the global styrenic block copolymer market during the projected timeframe.
Based on the product, the global styrenic block copolymer market is divided into styrene-butadiene-styrene (SBS), styrene-isoprene-styrene (SIS), styrene-isoprene butadiene block copolymer (SIBS), and hydrogenated styrenic block copolymers (HSBC). Among these, the styrene-butadiene-styrene (SBS) segment is anticipated to hold the greatest share of the global styrenic block copolymer market during the projected timeframe. This growth might be the consequence of growing demand from the construction, adhesives & sealants, and polymer footwear industries. styrene-butadiene-styrene (SBS) is used in the building industry for asphalt and roofing.
The paving & roofing segment is anticipated to hold the greatest share of the global styrenic block copolymer market during the projected timeframe.
Based on the application, the global styrenic block copolymer market is divided into paving & roofing, footwear, advanced materials, adhesives, sealants & coatings, and others. Among these, the paving & roofing segment is anticipated to hold the greatest share of the global styrenic block copolymer market during the projected timeframe. The rise of the worldwide construction sector is expected to fuel this category. The world's fast-growing economies have experienced tremendous expenditures on transportation and road maintenance projects as a result of the manufacturing and infrastructure sectors in rapid expansion.
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North America is expected to hold the largest share of the global styrenic block copolymer market over the forecast period.
North America is expected to hold the largest share of the global styrenic block copolymer market over the forecast period. This is largely that styrenic block copolymers, especially for wrapping films, are being used more and more in the food packaging business. There is an increasing number of higher-income individuals in numerous regions, particularly in the US, which is increasing demand for everyday items including food, apparel, and shoes. North America is a key market for styrenic block copolymers as it has well-established industries including consumer products, construction, automotive, and packaging.
Asia Pacific is predicted to grow at the fastest pace in the global styrenic block copolymer market during the projected timeframe. Two key factors that are expected to drive the region's building sector are the strong demand for affordable housing and government initiatives that supply basic necessities like food and shelter. Stronger laws and more public awareness of carbon emissions would encourage the growth of green buildings, one of the main applications for styrenic block copolymers and other lightweight, renewable materials.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global styrenic block copolymer market include LCY Group, KRATON CORPORATION, ZEON CORPORATION, Asahi Kasei Corporation, SIBUR, Zhejiang Zhongli Synthetic Material Technology Co., Ltd., Fujian Gulei Petrochemical Co., Ltd., China Petroleum & Chemical Corporation (Sinopec), INEOS Styrolution Group GmbH, JSR Corporation, LG Chem, CHIMEI, Versalis S.p.A., En Chuan Chemical Industries Co., Ltd., Denka Company Limited, Kuraray Co., Ltd., Others.
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Recent Developments
- In January 2024, the US business Kraton Corporation, which manufactures high-value biobased products and specialized polymers, announced a USD 35 million investment to update the crude tall oil biorefinery towers at its production facility in Panama City, Florida.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global styrenic block copolymer Market based on the below-mentioned segments:
Global Styrenic Block Copolymer Market, By Product
- Styrene-Butadiene-Styrene (SBS)
- Styrene-Isoprene-Styrene (SIS)
- Styrene-Isoprene Butadiene Block Copolymer (SIBS)
- Hydrogenated Styrenic Block Copolymers (HSBC)
Global Styrenic Block Copolymer Market, By Application
- Paving & Roofing
- Footwear
- Advanced Materials
- Adhesives
- Sealants & Coatings
- Others
Global Styrenic Block Copolymer Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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