Styrenic Block Copolymer (SBC) Market

Styrenic Block Copolymer (SBC) Market

Growth Factors of Styrenic Block Copolymer (SBC) Market

The Styrenic Block Copolymer (SBC) market size was valued at USD 8.24 billion in 2023, and the market is now projected to grow from USD 8.58 billion in 2024 to USD 11.80 billion by 2032, exhibiting a CAGR of 4.2% during the forecast period of 2024-2032.

The market is anticipated to be driven by the developing demand for restorative components such as tubing, sacks, and IV trickle chambers since of the expanding COVID-19 cases around the world. The developing demand for different applications, such as adhesives & sealants, footwear, pavements & roofing, polymer adjustment, and therapeutic gadgets, is additionally anticipated to fuel the market Styrenic Block Copolymer (SBC) market growth. Progressing the fit and consolation of infant diapers due to elastomeric materials are key highlights to back the demand for styrenic block copolymer.

The developing demand for road & interstate support and expanding framework around the globe is likely to supply sufficient openings for the black-top clearing industry. Expanding road activity would require consistent advancement and road-building in both country and urban zones, which is expected to drive the development rate of the asphalt paving industry. Developing nations such as China, India, and Brazil are investing tremendous entireties in creating their countries' paved road systems, which, in turn, is anticipated to boost the asphalt paving industry.

The worldwide car industry will see double-digit development in 2021, in accordance to the Financial analyst Insights Unit Limited. Deals of modern cars will increment by 15 percent in 2021, and sales of commercial vehicles will develop by 16 percent within the same year. The electric cars sales will be risen in 2020 to 3.4 Billion in 2021 from 2.5 Billion. The utilization of Thermoplastic elastomers (TPEs) in a wide variety of beneficiary applications in various business aspects, taking after industry-specific prerequisites. They are not as it were utilized in vehicle add for control components but moreover for outside window epitomes and under-the-hood seals.

Comprehensive Analysis Of Styrenic Block Copolymer (SBC) Market

Based on the product item, the market is sectioned and categorized into styrene-butadiene-styrene (SBS), styrene-isoprene-styrene (SIS), styrene-isoprene butadiene block copolymer (SIBS), and hydrogenated Styrenic block copolymers (HSBC). The styrene-butadiene-styrene (SBS) fragment held the major share of the market in 2020 and is likely to preserve this drift amid the estimate period. By applications, the advertise is portioned into paving & roofing, footwear, progressed materials, adhesives, sealants & coatings, and others. The paving & roofing section constituted the essential market share. The developing development industry over the globe is anticipated to drive the section.

The size of the market in Asia Pacific region stood to be the leading region with a valuation of USD 3.73 billion in 2023. The region ruled the Styrenic Block Copolymer (SBC) market share due to exponential populace development in nations such as China and India. The solid demand for reasonable lodging and government frameworks that bolster essential administrations such as nourishment and protect are both noteworthy variables anticipated to drive the development industry within the region. In expansion to that, exacting enactment and the expanding customer mindfulness of carbon outflows would energize the development of green buildings, a noteworthy end-user of renewable and lightweight items such as SBCs.

BASF SE (Germany), TSRC (China), Eastman Chemical Company (U.S.), Versalis S.p.A. (Italy), Kraton Corporation (U.S.), and China Petrochemical Group Co. Ltd. (China) are the major key companies globally that accounted for the major styrenic block polymer (SBC) market share in 2023.

Within the month of December 2021, the company Supreme Petrochem Ltd., a driving Indian polystyrene and expandable polystyrene maker, concurred to permit the persistent mass innovation for a 70 KTY ABS unit from Versalis, Eni's chemical company. The unit would be built in Maharashtra, India. Due to lower outflows and energy utilization, this cutting-edge innovation will deliver styrenic polymers with a low carbon impression.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Unit Value (USD Billion) and Volume (Tons)

Growth Rate CAGR of 4.2% from 2024 to 2032

Segmentation By Product

- Styrene-Butadiene-Styrene (SBS)

- Styrene-Isoprene-Styrene (SIS)

- Styrene-Isoprene Butadiene Block Copolymer (SIBS)

- Hydrogenated Styrenic Block Copolymers (HSBC)

By Application

- Paving & Roofing

- Footwear

- Advanced Materials

- Adhesives, Sealants & Coatings

- Others

By Region

- North America (By Product, By Application)

• The U.S. (By Application)
• Canada (By Application)

- Europe (By Product, By Application)

• Germany (By Application)
• UK (By Application)
• France (By Application)
• Italy (By Application)
• Spain (By Application)
• Russia & CIS (By Application)
• Rest of Europe (By Application)

- Asia Pacific (By Product, By Application)

• China (By Application)
• Japan (By Application)
• India (By Application)
• ASEAN (By Application)
• Rest of Asia Pacific (By Application)

- Latin America (By Product, By Application)

• Brazil (By Application)
• Mexico (By Application)
• Rest of Latin America (By Application)

- Middle East & Africa (By Product, By Application)

• GCC (By Application)
• South Africa (By Application)

- Rest of the Middle East & Africa (By Application)


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