According to the latest report by IMARC Group, titled "Styrenic Block Copolymer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global styrenic block copolymer market reached a value of US$ 7.5 Billion in 2021. Styrenic block copolymers (SBCs) refer to a versatile family of resins that are characterized by an elastomeric central arrangement. They combine the properties of thermoplastic resins and elastomers for adhesive and sealant development. They exhibit numerous exceptional properties, including flexibility, high transparency, crystal clarity, and excellent thermal stability. These copolymers also offer enhanced design versatility, exceptional chemical resistance and sterilizability by gamma irradiation and ethylene oxide gas. As a result, they are extensively utilized for polymer modification, paving and roofing applications, and for the manufacturing of adhesives and sealants across diverse industrial verticals, including healthcare, construction and consumer electronics.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Styrenic Block Copolymer Market Trends:
The global market is majorly driven by the growing applications of SBCs in the construction sector. These copolymers are increasingly used in modified bituminous roofing materials due to their excellent thermal resistance, improved performance and exceptional waterproofing properties. The rising demand for the construction of residential complexes and corporate parks is providing an impetus to the market growth. Moreover, the increasing requirement for SBCs in the healthcare sector for the manufacturing of medical bags, peristaltic pump systems, flexible films and tubing for intravenous (IV) systems and home care equipment is also acting as a major growth-inducing factor. The increasing prevalence of road accidents and rising number of coronavirus (COVID-19) positive cases across the globe have created an escalating demand for various medical components, including tubing and IV drip chambers, which, in turn, has provided a boost to the uptake of SBCs globally. Some of the other factors contributing to the market include the growing demand for SBCs for reducing the overall production cost of sealants and its increasing application as a toughener and impact modifier in the manufacturing of plastics. On account of the aforementioned factors, the market is expected to grow at a CAGR of 5.5% during 2022-2027.
- On the basis of the type, the market has been divided into Styrene-Butadiene-Styrene (SBS), Styrene-Isoprene-Styrene (SIS), Hydrogenated SBC (HSBC) and others.
- Based on the application, the market has been classified into asphalt modification, adhesives and sealants, polymer modification, medical devices, wires and cables, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Asahi Kasei Corporation, BASF SE, Chi Mei Corporation, China Petroleum and Chemical Corporation, Denka Company Limited, En Chuan Chemical Industries Co., INEOS Styrolution Group GmbH, JSR Corporation, Kraton Corporation, Kumho Petrochemical Co. Ltd., Lee Chang Yung Chemical Industry Corp., TSRC Corporation, Versalis S.p.A., and Zeon Corporation.
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