According to the latest report by IMARC Group, titled "SBC and Its Derivatives Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," the global SBC and its derivatives market reached a value of US$ 9.3 Billion in 2022. SBC (Single Board Computer) and its derivatives refer to a computer system built on a single circuit board rather than multiple boards or components. SBCs are used in many applications, including embedded systems, robotics, and industrial automation, that require compact and low-power computing solutions. They are designed for offering high processing power, graphics performance, and memory capacity, making them ideal for demanding applications, such as AI and machine learning. SBC is an attractive option for a wide range of applications due to its low cost, ease of use, and versatility. It will likely continue to be a popular choice for embedded systems and other applications.
Global SBC and Its Derivatives Market Trends:
The global market is majorly driven by the increasing demand for compact and low-power computing solutions across a range of applications. In line with this, the advent of the Internet of Things (IoT) and the rising use of artificial intelligence and machine learning technologies are significantly contributing to the market growth. Furthermore, the growing usage of SBC and its derivatives in educational, hobbyist, and DIY projects is positively influencing the market. Apart from this, heavy investments by the market players in continual innovation and technological advancements in product and process technologies are offering lucrative opportunities for market expansion. Moreover, the augmenting demand for SBC and its derivatives in advanced materials is expected to witness a significant rise due to their widespread utilization in various industries, such as automotive, food and beverages, and electrical and electronics. Besides, the rapid product adoption in paving and roofing in the construction industry is propelling the market. The escalating demand for medical equipment, devices, and materials with high waterproofing capabilities to lower the risks of contamination is bolstering the product uptake. Additionally, the rising environmental concerns and stringent regulations imposed by several governments for the reduction of polyvinyl chloride (PVC) are providing a boost to the growth of the SBC and its derivatives market. These regulations encourage the usage of these and other thermoplastic materials for commercial applications to follow guidelines for the usage of the product. On account of the factors above, the market is anticipated to reach a value of US$ 13.4 Billion by 2028, exhibiting a CAGR of 6.2% during 2023-2028.
- On the basis of the product type, the market has been categorized into Styrene-Isoprene-Styrene (SIS), Styrene-Butadiene-Styrene (SBS), Styrene-Ethylene-Butadiene-Styrene (SEBS), and SEPS and Other H-SBC, wherein styrene-butadiene-styrene (SBS) accounts for the majority of the total market share.
- Based on the application, the market has been classified into footwear, adhesives, sealants and coatings, roofing and paving, advanced materials, and others. Among these, roofing and paving accounts for the largest market share.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and the Middle East and Africa. Currently, Asia Pacific holds the leading position in the market.
- The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some of the key players include Asahi Kasei Corporation, Avient Corporation, BASF SE, China Petroleum & Chemical Corporation, Denka Company Limited, Dynasol Group, Kraton Corporation (DL Chemical Co., Ltd.), LG Chem Ltd. (LG Corporation), LYC Group, TRSC Corporation, and Versalis (Eni S.p.A.).
|Base Year of the Analysis
||Product Type, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Asahi Kasei Corporation, Avient Corporation, BASF SE, China Petroleum & Chemical Corporation, Denka Company Limited, Dynasol Group, Kraton Corporation (DL Chemical Co., Ltd.), LG Chem Ltd. (LG Corporation), LYC Group, TRSC Corporation, Versalis (Eni S.p.A.), etc.
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