Styrenic Block Copolymer Market Analysis, Segmentation and Future Forecasts

The global Styrenic Block Copolymer Market size is anticipated to reach USD 10.88 billion by 2025, according to a new report by Grand View Research, Inc. It is expected to register a CAGR of 6.76% over the forecast period. Developments in the manufacturing and construction sector are projected to impact the demand positively. Styrenic block copolymer (SBC) is commonly used for manufacturing sealants, hot-melt adhesives, gasket materials, toy products, rubber bands, shoe soles, and also used in bitumen products for roofing and road paving.

Asia Pacific accounts for the largest market share in terms of revenue owning to exponential increase in population in countries such China and India. High demand for affordable housing and government schemes promoting basic amenities such as food and shelter are also major factors driving the expansion of the construction industry. Furthermore, stringent regulations and growing consumer awareness regarding their carbon footprints are expected to foster green buildings, which is a major end user of sustainable and lightweight materials such as SBCs.

These copolymers are the largest consumed member of the thermoplastic elastomers (TPE) family. SBCs are used for a variety of applications wherein high-performance polymers are required. These polymers have properties similar to that of rubber but they process like polymers. In addition, SBCs are the lowest priced thermoplastic elastomers owing to their bulk consumption as compared to other members of the TPE family, which will drive the market over the forecast period.

Compounding SBC polymers with other copolymers and polyolefins can produce equally significant improvements in film properties such as greater puncture resistance, improved stress cracking resistance, and elastic recovery. Prominent trends include customized nanostructured surfaces, weight reduction, improvement in application performance and safety, and tailoring of commodity plastics to meet customers’ needs and applications.

Recent advances in the polymerization techniques have led to the development of elastomeric block copolymers produced with polyStyrenic and polymerized soy-derived triglycerides. While the past two decades of plant-oil based polymer research has yielded only thermosets, the newly produced polymers are thermoplastic elastomers that can be processed at high temperatures.

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Further key findings from the study suggest:

• The global styrenic block copolymer market was valued at USD 6.88 billion in 2018 and is expected to grow at a CAGR of 6.76% from 2019 to 2025
• Rising demand for environment-friendly and energy saving products and solutions is expected to drive the market
• Styrene-butadiene-styrene (SBS) occupied the largest revenue share on account of its higher price and increasing usage in footwear, adhesives and sealants, and paving and roofing
• Asia Pacific emerged as the largest and fastest-growing market for SIS owing to rapid expansion in the construction sector. This can be attributed to government schemes promoting basic amenities and growing need for affordable housing
• Companies are undertaking research and development activities to develop new products with enhanced properties to sustain market competition and changing end-user requirements. Some of the popular technologies are anionic polymerization and high melt flow polymerization
• Key players include BASF SE, Zeon Corporation., Versalis S.p.A., Ineos Styrolution, Denka, Eastman Chemical Company, LG Chemicals, Asahi Kasei Corporation, Chevron Phillips Corporation, China Petrochemical Corporation, En Chuan Chemical Industries Co., Ltd., and JSR Corporation.

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