Styrenic Block Copolymer Market Share, Size, Trends, Industry Analysis Report, By Product (Hydrogenated Styrenic Block Copolymers, Styrene-butadiene-styrene, Styrene-isoprene-styrene); By Application; By End-user; By Region; Segment Forecast, 2024 - 2032

Styrenic Block Copolymer Market Share, Size, Trends, Industry Analysis Report, By Product (Hydrogenated Styrenic Block Copolymers, Styrene-butadiene-styrene, Styrene-isoprene-styrene); By Application; By End-user; By Region; Segment Forecast, 2024 - 2032

The global styrenic block copolymer market size is expected to reach USD 9.22 billion by 2032, according to a new study by Polaris Market Research. The report “Styrenic Block Copolymer Market Share, Size, Trends, Industry Analysis Report, By Product (Hydrogenated Styrenic Block Copolymers, Styrene-butadiene-styrene, Styrene-isoprene-styrene); By Application; By End Use; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increasing use of styrenic block copolymers in healthcare, automotive coatings, and footwear is facilitating a favorable market for these compounds around the world. The chemical resistance power and potential to enhance adhesion among crucial materials are significantly fueling its adoption. Furthermore, the growing demand for paints and coatings is likely to drive the need for styrenic block copolymer due to its ability to increase adhesion.

The growing government initiatives to promote the country's development by investing in automotive, construction, and infrastructure development activities. This is creating a need for raw materials, including styrenic block copolymers, in the marketplace. For instance, in April 2023, China Petroleum & Chemical Corporation (Sinopec) announced the introduction of a new project to increase the manufacturing of styrene-butadiene copolymer by its subsidiary, Hainan Baling Chemical New Material Co., Ltd. It aims to produce 120,000 tons of SBS products and 50,000 tons of SEBS products.

The rising efforts to boost production, driven by growing demand for styrenic block copolymers, are likely to support the market growth trajectory. For instance, in June 2023, Kraton Corporation announced its plan to expand its styrenic block copolymer manufacturing capacity in Berre, France, aiming to supply 100% sustainable styrenic block copolymer with its CirKular+ ReNew initiative.

The rising use of adhesives for multiple applications is projected to frequently fuel the demand for styrenic block copolymers globally. The increasing consumer expenditure on fashionable goods is expected to create demand for adhesive compounds. Relaxo Footwears announced an increase in footwear sales in India of 46% in Q1 2023. The growing development of shoes with several designs and rising sports and fitness activities are creating significant demand for shoes and, thereby, shoe soles. This will promptly stimulate styrenic block copolymer in the coming years.

Styrenic Block Copolymer Market Report Highlights

Styrene-butadiene-styrene segment is anticipated to witness the highest growth, due to its capacity to safeguard from extreme weather conditions.

Footwear segment accounted for the largest market share, owing to the growing demand for consumer goods.

The construction segment held a significant market revenue share due to the significant rise in the residential construction industry.

APAC is projected to register the fastest growth during the forecast period, attributable to growing construction activities.

The global players include Asahi Kasei Corporation, China Petroleum & Chemical Corporation, Denka Company, Dynasol, and more.

Polaris Market Research has segmented the styrenic block copolymer market report based on product, application, end-user, and region:

Styrenic Block Copolymer, Product Outlook (Revenue - USD Billion, 2019 - 2032)

Hydrogenated Styrenic Block Copolymers (HSBC)

Styrene-butadiene-styrene (SBS)

Styrene-isoprene-styrene (SIS)

Styrenic Block Copolymer, Application Outlook (Revenue - USD Billion, 2019 - 2032)

Hydrogenated Styrenic Block Copolymers (HSBC)

Cable & Wire

Footwear

Asphalt Modifier

Adhesives

Artificial Leather

Styrene-butadiene-styrene (SBS)

Footwear

Asphalt Modification

Polymer Modification

Adhesives

Others

Styrene-isoprene-styrene (SIS)

Coating

Pressure Sensitive Adhesives

Healthcare

Others

Styrenic Block Copolymer, End-user Outlook (Revenue - USD Billion, 2019 - 2032)

Construction

Rubber

Electrical & electronics

Polymer Manufacturing

Healthcare Industry

Others

Styrenic Block Copolymer, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Australia

Rest of APAC

Latin America

Argentina

Brazil

Mexico

Rest of LA

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa

Rest of MEA