The global styrenic block copolymer (SBC) market is set to gain traction from the rapid expansion of the automotive industry. The Economist Intelligence Unit Limited mentioned that the sales of electric cars will reach 3.4m in 2021 from 2.5m in 2020. Besides, the sales of commercial vehicles will rise by 16% in 2021, while the sales of new cars will grow by 15%. This information is given by Fortune Business Insights™ in a new report, titled, “Styrenic Block Copolymer Market, 2021-2028.” As per the report, the market size was USD 7,163.6 million in 2020. It is projected to reach USD 10,010.5 million by 2028, exhibiting a CAGR of 4.2% during the forecast period.
Styrenic block copolymers (SBCs) are a class of thermoplastic elastomers that exhibit a unique combination of the properties of rubber and plastic. These copolymers are made by polymerizing styrene and butadiene (or isoprene) in a block structure, resulting in materials that are flexible, durable, and easily processable. Here are some key points about SBCs:
Structure and Types
- Block Structure: SBCs have a block copolymer structure consisting of polystyrene (hard segment) and polybutadiene or polyisoprene (soft segment). This structure gives them their unique properties.
- Types: The main types of SBCs include:
- Styrene-Butadiene-Styrene (SBS): Commonly used in adhesives, sealants, and coatings.
- Styrene-Isoprene-Styrene (SIS): Used in pressure-sensitive adhesives.
- Styrene-Ethylene/Butylene-Styrene (SEBS): Known for its stability and is used in applications requiring high performance under stress, like medical devices and automotive parts.
- Styrene-Ethylene/Propylene-Styrene (SEPS): Similar to SEBS but with different properties due to the propylene content.
Properties
- Elasticity: SBCs can be stretched and return to their original shape, providing excellent elasticity.
- Thermoplastic Behavior: They can be molded and shaped at high temperatures and solidify upon cooling.
- Chemical Resistance: SBCs are resistant to many chemicals, oils, and solvents.
- Transparency: Many SBCs are transparent, which is desirable for applications where appearance is important.
- Processability: They can be processed using conventional thermoplastic processing techniques such as extrusion, injection molding, and blow molding.
Applications
- Adhesives and Sealants: SBCs are widely used in hot-melt adhesives and pressure-sensitive adhesives due to their excellent adhesion properties.
- Automotive Parts: Used in making dashboards, grips, and other parts that require flexibility and durability.
Segmentation-
Paving & Roofing Segment to Hold Maximum Share Backed by Expansion of Construction Industry
Based on the product, the market is segregated into styrene-butadiene-styrene (SBS), styrene-isoprene-styrene (SIS), styrene-isoprene butadiene block copolymer (SIBS), and hydrogenated styrenic block copolymers (HSBC). By application, it is fragmented into paving & roofing, footwear, advanced materials, adhesives, sealants & coatings, and others. Amongst these, the paving & roofing segment is set to remain in the forefront because of the expansion of the construction industry.
Report Coverage-
The research report of the SBC industry offers a comprehensive analysis of existing companies that can affect the market outlook throughout the forthcoming years. In addition to that, it provides an accurate assessment by highlighting data on multiple aspects that may contain growth drivers, opportunities, trends, and hindrances. It also represents the overall market size from a global perspective by analyzing historical data and qualitative insights.
Drivers & Restraints-
Increasing Development of Paved Road Networks to Boost Growth
The rising infrastructure, as well as the high demand for road & highway maintenance worldwide is set to be the major factor responsible for driving the styrenic block copolymer market growth in the near future. At the same time, the ongoing development of roads and surging traffic in rural and urban areas is anticipated to propel the asphalt paving industry. Developing countries, such as Brazil, India, and China are spending hefty amounts in enhancing their paved road networks. In India, for instance, the government launched schemes, such as Bharatmala Pariyojana and Pradhan Mantri Gram Sadak Yojana (PMGSY). Such projects are set to spur the demand for SBCs. However, the volatility in the prices of oil may hamper growth.
Regional Insights-
Asia Pacific to Remain at the Forefront Stoked by Awareness of Carbon Emissions
Geographically, Asia Pacific earned USD 3,128.2 million in terms of revenue in 2020 in the styrenic block copolymer industry. The region is anticipated to remain in the dominant position throughout the forthcoming years. This growth is attributable to the increasing consumer awareness about carbon emissions and the rising implementation of strict governmental norms. Europe, on the other hand, is likely to showcase a considerable growth backed by the expansion of end-use industries, such as infrastructure, footwear, and automotive.
Information Source:
https://www.fortunebusinessinsights.com/styrenic-block-copolymer-sbc-market-105131
