The global styrenic block copolymers (SBC) and its derivatives market is projected to grow from 2076.31 kilotons in 2016 to 3,010.48 kilotons by 2023, witnessing a CAGR of 5.53% between 2017 and 2023, according to a recent market research report from Inkwood Research.
In terms of product type, the global SBC and its derivatives market is segmented intoStyrene Butadiene Styrene (SBS), Styrene Isoprene Styrene (SIS), Styrene Ethylene Butadiene Styrene (SEBS), and SEPS & Other Hydrogenated Styrenic Block Copolymer (H-SBC). SEBS is likely to witness the fastest growth in global market over the forecast period. Owing to their remarkable properties, particularly UV resistance and weather ability, their demand and use in various applications is constantly expanding. SBS accounted for the largest share in the global market in 2016. The steady development in the end user markets is one of the key factors driving the demand of SBS. SIS is increasingly used for the assembling adhesives whose procedures needs warming and dissolving to function successfully and for adhesives that require weight sensitivity. In addition, they are used as a part of road marking. SEPS & Other H-SBC is utilized in soft touch and flexible materials, medical products, auto components, adhesives, personal care and hygiene products, and sealant applications.
The global SBC and its derivatives market is segmented into Asia-Pacific, North America, Europe and the Rest of the World, in terms of geography. The Asia-Pacific region is anticipated to occupy the largest share by 2023 and is also growing at a faster rate, followed by North America and Europe. The reliable development in the construction sector in the rising economies such as China and India and the rise of China as a manufacturing center point is the main driver for the application of SBC and its derivatives in the region. The development in the repair construction sector coupled with the developing interest for polymer modified products for the infrastructural improvement (both repair and new) is expected to support the development of the North American SBC and its derivatives. In Europe, the demand for SBC and its derivatives is propelled by the growth in the healthcare and personal care industry, as well as the recovering construction industry.
Increasing application in the healthcare industry, growing demand from BRIC countries, rising construction industry in Asia-pacific region are the major drivers for the SBC market growth. However, factors such as rising popularity of olefin block copolymers, fluctuations in the raw material prices will restrict the SBC market growth.
The key players in the global SBC and its derivatives market include KRATON (US), LCY CHEMICAL (Taiwan), SINOPEC (China), DYNASOL (US), LG CHEMICALS (South Korea), ENI VERSALIS (Italy), POLYONE (US), TSRC (Taiwan), and ASAHI KASEI CORP (Japan), etc.
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