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Global Styrenic Block Copolymer Market To Be Driven By Growing Demand For Green Construction Materials In The Forecast Period Of 2022-2027

The new report by Expert Market Research titled, ‘Global Styrenic Block Copolymer Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global styrenic block copolymer market, assessing the styrenic block copolymer market, based on its segments like products, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2017-2027)

  • Historical Market Size (2020):  About USD 8.1 billion
  • Forecast CAGR (2022-2027): 4.60%
  • Forecast Market Size (2026): Nearly USD 10.6 billion

The growth in the global market for styrenic block copolymer is being driven by the rising demand for styrene-butadiene-styrene (SBS). This can be associated with the rising demand for SBS from the polymer modification, footwear, construction, adhesives and sealant segments. The demand for SBS in the construction sector is being led by its applications in paving and roofing. This trend is further supported by rising construction and reconstruction activities around the world on account of rising urbanisation and industrialisation. Geographically, the Asia Pacific region is likely to account for a significant share of the market during the forecast period.

Industry Definition and Segmentation

Styrenic block copolymers refer to high-performance thermoplastic elastomers. These are specifically designed to increase product application and performance in end-use sectors. Styrenic block copolymers are thermally stable, crystal clear, and resistant, with little cytotoxic or mutagenic potential.

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Based on product, the market can be segmented into:

  • Styrene-Butadiene-Styrene (SBS)
  • Styrene-Isoprene-Styrene (SIS)
  • Hydrogenated SBC (HSBC)

On the basis of application, the market divisions are:

  • Asphalt Modification
  • Wires and Cables
  • Polymer Modification
  • Adhesives and Sealants
  • Footwear
  • Others

The regional markets for styrenic block copolymer include:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market Trends

The growth in the global market for styrenic block copolymer is being positively influenced by applications in the medical equipment manufacturing sector. The increasing demand for medical equipment like tubing, bags, and IV drip chambers is driving the market forward. This can be attributed to the favourable properties of styrenic block copolymer which include high transparency, flexibility, good mechanical strength, kink resistance, and excellent UV and chemical resistance. Increasing medical spending and advancements in medical equipment technology are expected to further contribute to the growth of the market. Apart from this, the construction sector is projected to be a leading application segment owing to increasing investments in green building projects. This is likely to raise the demand for lightweight, environmentally friendly material like styrenic block copolymers, hence fuelling the growth of the market.

Key Market Players

The major players in the market are China Petrochemical Corporation, Asahi Kasei Corporation, JSR Corporation, Ineos Styrolution Group GmbH, Eastman Chemical Company, and Kumho Petrochemical, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

Media Contact

Company Name: EMR Inc.
Contact Person: Steven Luke, Corporate Sales Specialist – U.S.A.
Email: [email protected]
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
City: Sheridan
State: Wyoming
Country: United States
Website: https://www.expertmarketresearch.com

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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