Styrenic Block Copolymers Market Size, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Styrenic Block Copolymers Market


The global Styrenic Block Copolymers market size is projected to reach US$ 11.65 billion by 2026, from US$ 7.85 billion in 2020, at a CAGR of 6.8% during 2021-2026. The SBCs market is anticipated to be driven by the growing usage of high-performance specialty polymers in various end-use industries, such as medical devices, construction, footwear, and electrical & electronics. Moreover, increasing environmental concerns and stringent regulations implemented by government boards for reducing the use of Polyvinyl Chloride (PVC) are positively influencing the product demand.
Styrenic block copolymers are the largest consumed products of Thermoplastic Elastomer (TPE) family. They are used in a variety of applications, which require high-performance polymers. They have properties very similar to that of rubber but they process like polymers. They are cheaper than other TPEs owing to their bulk consumption.

SBS is used in the modification of various polymers that include Acrylonitrile Butadiene Styrene (ABS), General Purpose Polystyrene (GPP), High Impact Polystyrene (HIS), and Bulk Molding Compounds. The outlook for SBS in polymer modification is expected to be positive due to the stable growth of automotive production in developed regions, such as North America and Europe, coupled with the rising demand for home appliances in developing regions, such as Southeast Asia and Middle East.

Growing end-use industries, such as footwear and adhesives & sealants, in the emerging economies of Asia Pacific and Latin America is a key factor driving the product demand. However, the product demand in developed countries of North America and Western Europe is about to reach its saturation. Thus, these regions are expected to witness a relatively sluggish growth rate over the forecast period.

Several federal bodies do, however, regulate the applications in numerous end-use industries to ensure consumer health and safety. These regulations encourage the utilization of these and other thermoplastic materials for commercial applications to provide guidelines for prudent product usage.

Market Segmentation, Outlook & Viewpoint: Global Styrenic Block Copolymers Market

Product Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  
Styrene-Butadiene Styrene (SBS)
  
Styrene-Isoprene-Styrene (SIS)
  
Hydrogenated Styrenic Block Copolymer (HSBC)

Application Market Segmentation & Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

SBS

  
Paving & Roofing
  
Footwear
  
Polymer Modification
  
Adhesives & Sealants
  
Wires & Cables
  
Others

SIS

  
Paving & Roofing
  
Polymer Modification
  
Adhesives & Sealants
  
Others

HSBC

  
Adhesives & Sealants
  
Polymer Modification
  
Medical Devices
  
Others

Key Players, Recent Developments & Regional Insights: Global Styrenic Block Copolymers Market

Styrene-butadiene-styrene (SBS) is widely used in high-performance applications, such as polymer modification, asphalt/bitumen modification, vulcanized compounding, adhesives & sealants. These copolymers display significant advantages for adhesives formulation since they easily flow at processing temperatures and act like reinforced elastic rubbers under standard application conditions. Due to these properties, it also finds applications in other industries, such as vulcanized compounding and bitumen modification.

SBS in paving & roofing application segment is expected to register a CAGR of 6.3% from 2019 to 2025. Numerous agencies across the globe are continuously striving to increase the service life of pavements. Additionally, the introduction of radial truck tires with 125 PSI of pressure have increased the burden on existing pavements and highway infrastructures.

The global footwear industry is a major consumer. SBS is an excellent material in footwear manufacturing for several reasons that also make it ideal for roofing. In shoe soles, SBS contributes to a strong yet flexible product that can be waterproofed. These benefits, along with the low cost and biocompatibility of these materials is driving their use in footwear applications.

Hydrogenated Styrenic Block Copolymer (HSBC) is the second-largest product segment and it accounting for over 17.2% of the total revenue in 2018. HSBCs have a different compatibility with formulation ingredients than SIS and SBS. This allows the use of more stable hydrogenated formulating ingredients, providing systems of overall high stability, transparency, and clarity.

Increasing geriatric population and the subsequent rise in the number of healthcare facilities has driven the demand for medical equipment, devices, and materials with high waterproofing capabilities to reduce the risk of contamination and epidemics. These factors have led to the increased use of HSBC in medical devices to impart desirable properties, such as long-lasting durability and pathogen-resistance.

HSBC formulations are much more stable than SIS formulations because the mid-block is fully saturated and thus provides excellent resistance against thermal degradation. Asia Pacific generated the highest demand for these versatile polymers and is expected to grow at a rapid pace owing to rising awareness regarding the benefits of HSBC polymers in adhesive formulations.

Regional Insights

Asia Pacific is expected to emerge as the leading regional market owing to high product demand from end-use industries, such as paving & roofing, footwear, adhesives & sealants, and medical devices. Rapid expansion in the construction sector due to government schemes promoting basic amenities and growing need for affordable housing is driving the growth in emerging economies such as India, China and Indonesia.

China dominates the Asia Pacific market. Prefabricated buildings are likely to become a major trend in China, with high demand for aesthetically appealing and sustainable materials, such as SBS. Despite the current slowdown in the Chinese construction sector, owing to its lackluster economic performance in 2018, the market is still a lucrative industry to invest in as compared to other Western economies. Constant infrastructural investments are expected to sustain the economy and the construction sector.

North America also accounted for a significant market share in 2018. Regional consumption of the product is being driven by increasing application scope in medical devices along with approval for its usage from regulatory authorities, such as FDA. Paving & roofing is expected to emerge as the leading application segment in the region owing to rising use of polymer modified bitumen. The region has a well-developed market and is expected to witness technological developments providing growth opportunities for the manufacturers.

Increasing demand from footwear, polymer modification, and adhesives and sealants applications is likely to drive the market in U.S. Overall recovery of the European economy along with growth of end-use industries is anticipated to drive the market in the region over the next few years. Countries, such as Germany, France, Italy, Russia, and U.K., are the major producers and consumers of the product in Europe. Polymer modification is one of the major application segments and is set to play an important role in the growth of the regional market.

Styrenic Block Copolymers Market Share Insights

The global market is highly competitive and consolidated in nature with few companies accounting for maximum share of the global production. Most of the top companies are making huge investments in R&D for innovation in product and processing technology. Key industry participants include SINOPEC, Zeon Corporation, BASF SE, LG Chemicals, Chevron Phillips, Eastman Chemical Company, Dynasol Elastomers, LCY Group, Polyone and Versalis. Other significant players include Kraton Performance Polymers, Kumho Petrochemicals Co. Ltd., JSR Corp., Kraton Performance Polymers, Momentive Specialty Chemicals, Asahi Kasei, Kumho Petrochemicals Co. Ltd., Denki Kagaku Kogyo Kabushiki Kaisha (DENKA) and TSRC.

Key Insights Covered: Global Styrenic Block Copolymers Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Styrenic Block Copolymers industry.
2. Global major manufacturers" operating situation (sales, revenue, growth rate and gross margin) of Styrenic Block Copolymers industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Styrenic Block Copolymers industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Styrenic Block Copolymers industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Styrenic Block Copolymers industry.

Research Methodology: Global Styrenic Block Copolymers Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other