Growing Demand from Roofing, Road Construction, Pavement & Footwear Sectors Drives the Global Styrene-Butadiene-Styrene (SBS) Block Copolymer Market

Increased demand from the construction industry for roofing, roads, and pavement applications; strong growth in demand from adhesives and sealants and footwear markets in the Latin American and Asia-Pacific regions; and rising popularity of diapers are poised to drive the global market for Styrene-Butadiene-Styrene (SBS) Block Copolymer to reach 2.4 million tons worth US$8.1 billion by 2024.

Styrene-Butadiene Styrene (SBS) block copolymer would emerge as the leading product in the Styrene-Butadiene Copolymer (SBC) market in the coming years. It is used in high-performance demanding applications, such as polymer modification, bitumen and asphalt modification, adhesives-and-sealants, and vulcanized compounding among others. In formulation of adhesives, SBS provides major advantages. They work very efficiently in processing temperatures and perform as reinforced-elastic rubbers in conditions of standard application. Owing to these advantages, SBS finds use in modification of different polymers, such as ABS (Acrylonitrile-Butadiene-Styrene), GPP (General-Purpose-Polystyrene), HIS (High-Impact-Polystyrene), and Bulk-Molding-Compounds.

Governments across the world are striving towards increasing pavement service life. Radial truck-tire introduction, with pressure of 125 psi, led to increase in burden on highway infrastructures. SBS would therefore witness increased demand from the construction industry. With growth of the automotive industry predicted to be stable in especially the developed North American and European countries, the demand for SBS for polymer modification application is anticipated to remain positive. In addition, the growing demand for home appliances across all developing countries of Asia and the Middle East would also bode well for the SBS market in the coming years. Other growth promoting factors for SBS include strong growth in demand from adhesives and sealants and footwear markets in the Latin American and Asia-Pacific regions. For the footwear industry, SBS represents an exceptional material due to several reasons. It forms a strong and at the same time, flexible material, ideal for use in shoe soles. SBS is also biocompatible and of low cost which also drive its use in this application.

As stated by the new market research report on Styrene-Butadiene-Styrene (SBS) Block Copolymer, Asia-Pacific constitutes the most important regional market worldwide. Trailing at a CAGR of 4.8% in volume terms and 5% in value terms over the analysis period, the region is expected to register the fastest growth.  Economic development in several countries in the region, such as India, along with rising public and private investments in manufacturing and industrial sectors is pushing the demand for SBS block copolymers in Asia-Pacific. By end-use, Asphalt Modification constitutes the largest segment, while Polymer Modification represents the fastest growing segment, demonstrating a CAGR of 5.6% over the analysis period.

Major players in the market include Asahi Kasei Corp., Chi Mei Corp., China National Petroleum Corporation, Dynasol Elastomers, En Chuan Chemical Industries Co., Firestone Polymers LLC, INEOS Styrolution Group GmbH, Kraton Corp., LCY Chemical Corp., LG Chem, RTP Company, Sinopec Corp., TSRC, and Versalis S.p.A. among others.

The research report titled “Styrene-Butadiene-Styrene (SBS) Block Copolymer - Market Analysis, Trends, and Forecasts” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, mergers and acquisitions, and other strategic industry activities of global companies. The report provides market estimates and projections in value and volume terms for all major geographic markets, such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. The report also analyzes the volume sales of SBS Block Copolymer by End-Use Segment – Adhesives, Sealants, & Coatings; Asphalt Modification; Polymer Modification; and Others (Includes Footwear, Medical Apparatus, Brilliant Oils, Pipelines, Household Electric Appliances, Electric Cables, and Electric Wires.)
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