Styrenic block copolymers are the largest volume and one of the lowest-priced commercial thermoplastic elastomers. According to BlueQuark Research & Consulting, the global Styrenic Block Copolymer market is expected to witness a significant growth rate during the forecast period. Factors such as the growing demand for Polyvinyl Chloride (PVC) 's alternative due to the hazardous effects associated with its use and Styrenic Block Polymer emerging as a perfect alternative to PVC are driving the Styrenic Block Copolymer market. The increasing demand for construction material for roofing and paving is expected to surge the market demand of Styrenic Block Copolymer in the future. The medical industry also plays a crucial role in increasing the demand for Styrenic Block Copolymer with its use as medical stoppers, films, respiratory equipment, etc. However, the fluctuations in raw materials prices for Styrenic Block Copolymer manufacturing are expected to hamper Styrenic Block Copolymer market growth in the forecasted years.
Styrenic Block Copolymers are widely used in gasket materials, sealants, hot melt adhesives, rubber bands, top products, shoe soles, and bitumen products for road paving and roofing applications.
The Construction Industry is a prime consumer of Styrenic Block Copolymer globally and is expected to drive the future market. Urbanization has led to a surge in the construction industry, with demand for construction material expected to rise over the forecasted year, driving the Styrenic Block Copolymer market. Styrenic Block Copolymer's demand in the adhesives and sealants is attributed to its high resistance, excellent thermal stability, crystal clarity, and stabilizable by gamma irradiation, ethylene oxide gas, and mutagenic or irritant potential. The footwear industry makes up a portion of the global Styrenic Block Copolymer demand due to its excellent elasticity, gas barrier, slip resistance, flexing endurance, wear resistance, and low-temperature resistance. With the increasing and aging population of the world, the medical industry is expected to play a crucial role in increasing demand for Styrenic Block Copolymer globally. Thus, the increasing medical, construction, and adhesives demand are all set to propel the future Styrenic Block Copolymer market.
The global Styrenic Block Copolymer market was found to be fragmented. Major global players in the industry wereBASF SE,Ineos Styrolution Group GmbH,JSR Corporation,Kumho Petrochemical,Eastman Chemical Company,SINOPEC,LYC Chemical, among others.
The Asia Pacific is expected to be the largest market for Styrene Butadiene in the forecasted year. Owing to the increasing population in the region, the demand for construction materials is increasing. In the last two decades, China has undertaken a massive infrastructural project to revamp the country's infrastructure, which has attributed to China's recent success. Following this, China experienced a rise in urbanization, thus raising the demand for low-cost housing and commercial housing for its citizen. China has undertaken a global infrastructure development plan known as 'The Belt and Road Initiative (BRI)' or 'One Belt One Road', which would connect China's market to the European market through roads and rails to consolidate its global manufacturing hub status further. This BRI is expected to cover about 132 countries in Asia and Europe region. China is not only rapidly developing its infrastructure but also of countries with low economies. Some of these plans include Indonesia National Medium-Term Development Plan (US$460b), Vietnam Socio-Economic Development Plan (US$61.5b), Philippine Development Plan "Build, Build, Build" (US$71.8b), and the Thailand Transport Infrastructure Development Plan (US$76b). According to the International Trade Administration, China's construction industry was valued at USD 968 billion and is expected to reach USD 1.1 trillion by the end of 2021. The construction industry is on the rise due to the surge in urbanization in the region, increasing the demand for Styrenic Block Copolymer in the forecasted years. The increasing demand for adhesives fueled by the surging packaging industry attributed to the E-Commerce and E-Retail boom has increased the demand for styrene butadiene in the APAC region. The demand for high-quality sports footwear has also seen a rise in demand with increasing disposable income in the region. Thus, the increasing demand for construction material for paving and roofing, footwear, sealants, and adhesives in the APAC region is propelling the future Styrenic Block Copolymer market.
LYC Chemical, in January 2020, has announced a new ultra-high molecular weight styrene-ethylene-butylene-styrene (SEBS) for automobile, medical, polymer modification, and adhesives. It has a higher service temperature, more comprehensive hardness range, and increased production capacity due to a faster oil absorption rate.
Global Styrenic Block Copolymer Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Styrenic Block Copolymer market by segmenting based on the Type (Styrene-Butadiene-Styrene (SBS), Styrene-Isoprene-Styrene (SIS), Hydrogenated Styrenic Block Copolymers Gels (HSBC)), Application (Roofing and Paving, Footwear, Sealants and Adhesives, Polymer Modifiers, Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers and includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.
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Get latest Market Research Reports on Styrenic Block Copolymer. Industry analysis & Market Report on Styrenic Block Copolymer is a syndicated market report, published as Global Styrenic Block Copolymer Market Outlook to 2026. It is complete Research Study and Industry Analysis of Styrenic Block Copolymer market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.