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 (TPEs) known for their unique combination of properties, including elasticity, flexibility, toughness, and processability. They are made up of two or more blocks of different monomers linked together in a linear or branched structure. The most common types of styrenic block copolymers include styrene-butadiene-styrene (SBS), styrene-isoprene-styrene (SIS), and styrene-ethylene/butylene-styrene (SEBS).
- Styrene-Butadiene-Styrene (SBS): This copolymer consists of polystyrene end blocks and a polybutadiene mid-block. SBS copolymers are widely used in applications requiring good mechanical properties, such as shoe soles, adhesives, and asphalt modification.
- Styrene-Isoprene-Styrene (SIS): SIS copolymers have polystyrene end blocks and a polyisoprene mid-block. They exhibit excellent elasticity, making them suitable for applications like pressure-sensitive adhesives, medical products, and elastic films.
- Styrene-Ethylene/Butylene-Styrene (SEBS): SEBS copolymers contain polystyrene end blocks and a rubbery segment made of ethylene and butylene. SEBS copolymers have a wide range of applications, including in automotive parts, consumer goods, and medical devices, due to their excellent balance of properties like flexibility, UV resistance, and chemical resistance.
These copolymers are often processed via methods like injection molding, extrusion, or blow molding. Their versatility and performance make them valuable materials in various industries, including automotive, construction, electronics, and consumer goods.
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.
Styrenic block copolymers (SBCs) are a class of thermoplastic elastomers (TPEs) known for their unique combination of properties, including elasticity, flexibility, toughness, and processability. They are made up of two or more blocks of different monomers linked together in a linear or branched structure. The most common types of styrenic block copolymers include styrene-butadiene-styrene (SBS), styrene-isoprene-styrene (SIS), and styrene-ethylene/butylene-styrene (SEBS).
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.
Styrenic block copolymers (SBCs) have a wide range of uses across various industries due to their unique combination of properties, including elasticity, toughness, and processability. Here are some common applications:
- Footwear: SBCs, especially SBS and SEBS, are extensively used in footwear applications such as shoe soles, midsoles, and heel cups due to their excellent cushioning properties, abrasion resistance, and flexibility.
- Adhesives and Sealants: SBCs are commonly used in pressure-sensitive adhesives (PSAs) for tapes, labels, and decals due to their tackiness, peel strength, and shear resistance. They are also used in sealants for construction, automotive, and packaging applications.
- Paving and Asphalt Modification: SBS copolymers are added to asphalt to enhance its elasticity, toughness, and resistance to cracking, improving the performance and durability of roads, parking lots, and roofing materials.
- Medical Devices: SBCs are used in medical applications such as medical tubing, syringe components, catheters, and prosthetics due to their biocompatibility, flexibility, and sterilizability.
- Consumer Goods: SBCs are found in a variety of consumer products such as soft-touch grips for tools, handles for kitchenware, toys, and electronic device housings due to their soft feel, impact resistance, and colorability.
- Packaging: SBCs are used in flexible packaging films and pouches due to their ability to provide seal integrity, puncture resistance, and elasticity for products such as food packaging, medical packaging, and industrial packaging.
- Automotive Parts: SBCs are used in automotive applications such as interior trim components, gaskets, weatherstripping, and under-the-hood parts due to their resistance to oils, chemicals, and temperature extremes, as well as their impact absorption properties.
- Textiles: SBCs are used in textile applications such as elastic bands, socks, and athletic apparel due to their stretch and recovery properties.
- Electronics: SBCs are used in electronic device housings, gaskets, and connectors due to their electrical insulation properties, toughness, and resistance to environmental factors.
- Construction: SBCs are used in construction applications such as expansion joints, roofing membranes, and waterproofing materials due to their flexibility, weather resistance, and durability.
These are just a few examples of the diverse applications of styrenic block copolymers, highlighting their versatility and importance in various industries.
Information Source:
https://www.fortunebusinessinsights.com/styrenic-block-copolymer-sbc-market-105131
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