The Styrenic Block Copolymer is forecast to crazy increase over the next few years. According to the WK-chem Research "Global Styrenic Block Copolymer Professional Survey Report 2022, Forecast to 2027", The demand for Styrenic Block Copolymer in paving and roofing applications is being driven by the rising construction spending and infrastructure development activities, particularly in emerging economies, which is expected to further boost the market in the coming years. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 4.5% base on WK-chem Research regression analysis model.
"As the application of styrenic block copolymers continues to expand, the demand for such products around the world continues to increase. The rapid development of the construction industry in the Asia-Pacific region has created a large market gap for styrenic block copolymers and provided manufacturers with investment opportunities." said Linda, Senior analyst, Chemical & Material Market Research Center in WK-chem Research.
Styrenic block copolymers (SBCs) are a class of thermoplastic elastomers, which processes like plastic and behave like rubber, mainly due to the physical crosslink inherent in the SBC structure. When the SBC material is stretched, those crosslinks bring it back to its original shape. SBCs can be made up of butadiene, styrene, and isoprene raw materials. They have a two-phase structure composed of hard polystyrene end blocks and soft rubber mid-locks. SBCs find their major application in asphalt modification, rigid thermoplastic impact modification, production of soft plastic elastomer, and others. Styrenic block copolymers are often used to enhance the performance of many products. They are widely used in sealants, gasket materials, hotmelt adhesives, rubber bands, toy products, shoe soles and in bitumen products for road paving and roofing applications. However, the fluctuation in crude oil prices has a significant impact on the price of styrenic block copolymers. As the major raw material such as benzene, ethylene, and propylene are generally derived from crude oil derivatives, thus any fluctuations in crude oil prices significantly impact the pricing of the final product.
: Some of the major players in the Styrenic Block Copolymer market are Kraton, Dynasol, Kuraray, Asahi Kasei, Kumho Petrochemical, LG Chem, TSRC, Chi Mei. In order to sustain product quality and extend geographical presence, major players operating in the market have consolidated their raw material processing and distribution activities. This offers a strategic edge for them in the form of cost advantages, thereby increasing the profit margin.
: By product, the industry is segmented into: Styrene-Butadiene-Styrene (SBS), Styrene-Isoprene-Styrene (SIS), Hydrogenated SBC (HSBC). The most important tri-block copolymer is SBS. It has higher tensile strength than SBR rubber but only limited heat resistance. SBS and SIS are less resilient than chemically crosslinked elastomers and thus, do not recover as efficiently from deformation as vulcanized diene elastomers. SBS holds the advantages of properties achieved from both polystyrene and butadiene. The polybutadiene chains in the structure allow the material to be stretched and get back to its normal state. These properties make SBS ideal for usage in applications, such as road pavement, plastic modification, adhesives, and footwear. Based on the application, the market is segmented into paving & roofing, footwear, adhesives, sealants & coatings, and others. The paving & roofing segment constituted the primary market share. The growing construction industry across the globe is expected to drive the segment.With the development in the manufacturing and infrastructural sectors in the fast-paced economies worldwide, heavy spending on road maintenance and transport projects has been incurred, thereby generating worldwide demand for asphalt paves. The product is often used as a bitumen modifier in asphalt applied to roads. Other major applications of the products include the use of adhesives & sealants, and others (including medical uses). As a result of the use of grooming products, the adoption of adhesives has grown.For example, SIS is used in diapers for the young and elderly and feminine hygiene products. In addition, due to the coVID-19 pandemic, the demand for medical products is witnessing a surge. Styrenic Block Copolymer
Regional Market Analysis
On the basis of Geography, the Styrenic Block Copolymer market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The Asia Pacific accounts for a significant share of the global styrenic block copolymer industry. The increased product demand can be attributed to the thriving construction industry in the region. The various government initiatives encouraging basic amenities, coupled with the growing demand for affordable housing are fuelling the market growth in emerging economies like India and China. Rapid industrialization coupled with manufacturing industry expansion owing to skilled labor availability are the key trending factors to fuel the material demand. China is among the major footwear producing country followed by India; increasing SBC usage in footwear should positively affect the regional industry growth.
Region with the largest share: Asia Pacific
Largest country in largest share region: China
Product Type: Styrene-Butadiene-Styrene (SBS), Styrene-Isoprene-Styrene (SIS), Hydrogenated SBC (HSBC)
Application: paving & roofing, footwear, adhesives, sealants & coatings, and others
Leading Company: Kraton, Dynasol, Kuraray, Asahi Kasei, Kumho Petrochemical