Styrenic Block Copolymers Market Size Is Estimated USD 10.8 Billion By 2025| Grand View Research Inc.

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According to a report, “ Styrenic Block Copolymers Market Size, Share & Trends Analysis Report By Product (SBS, SIS, HSBC), By Application (Paving & Roofing, Footwear, Polymer Modification, Adhesive & Sealant, Wire & Cable), And Segment Forecasts, 2019 – 2025″,published by Grand View Research, Inc.,The global styrenic block copolymers market size is expected to reach USD 10.8 billion by 2025,The market is projected to expand at a CAGR of 6.8% from 2019 to 2025. Increasing demand for advanced materials in building & construction to meet structural requirements is a key factor propelling the use of polymer modified bitumen and high-performance plastics. Structural applications requiring strength and lightweight materials are composed of copolymers as reinforcing agents as opposed to traditional metals.

Key Takeaways from the report:

• The global styrenic block copolymers market demand was over 2.22 kilotons in 2018 and is expected to reach 3.08 kilotons registering a CAGR of 4.8% from 2019 to 2025

• Asia Pacific was the dominant consumer and accounted for over 45% of the overall volume in 2018. The region is characterized by favorable outlook on end-use industries

• Strong growth in the manufacturing and construction sectors in the region is touted to drive demand for adhesives, sealants, cable wires, and high-performance plastics, thereby boosting the product demand

• Key companies in this market include Asahi Kasei, Chevron Philips, LG Chem, Dynasol Elastomers, Momentive Specialty Chemicals, Eastman, Kraton Performance Polymers, INEOS Styrolution, and BASF SE

• The market also has a strong presence of integrated companies who are actively involved in raw material production as well

Regulations by several governments to promote sustainable construction practices for energy utilization and to reduce building waste are also likely to augment the demand for SBCs. Paving & roofing application accounted for 34.0% of the global volume in 2018. The shift in trend towards developing alternative routes for production using bio-based raw materials is expected to positively influence the industry dynamics as they are recyclable and reusable, which has enabled the substitution of PVCs, rubber, and other conventional materials.

Styrene-Butadiene Styrene (SBS) was the most widely used product with its key applications ranging from paving & roofing to adhesives & sealants. The segment was valued at USD 4.94 billion in 2018. Footwear, polymer modification, and adhesive applications collectively accounted for nearly 57% of the overall SBS volume in 2018. Increasing demand for SBS in the modification of polymers, such as ABS, high impact polystyrene, EVOH, polyolefins, and bulk molding compounds, as a means to impart impact strength, durability, and flexibility will drive segment growth in future.

Application Insights

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.

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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. 

Grand View Research has segmented the global styrenic block copolymers market on the basis of product, application, and region:

SBCs Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)

• Styrene-Butadiene Styrene (SBS)

• Styrene-Isoprene-Styrene (SIS)

• Hydrogenated Styrenic Block Copolymer (HSBC)

SBCs Application 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

SBCs Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • U.K.

  • Germany

  • France

• Asia Pacific

  • China

  • Japan

  • India

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

• UAE

• Saudi Arabia

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