Industry Insights
Styrenic Block Coplolymers (SBC) is ecofriendly copolymers possessing
major properties of PVC and other thermoplastics. Owing to increasing
environmental issues and stringent regulations by government boards
including EU Commission to reduce the usage of PVC, industries have been
shifting their focus towards SBC. Rising demand for ecofriendly
polymers is the key factor expected to augment SBR market growth over
the forecast period.
Increasing environmental concerns coupled with low cost of SBC have
been replacing the application of PVC, rubber and other thermoplastics
in many industrial applications. This factor is expected to drive the
market over the foreseeable period. Increasing application scope of SBC
in automobiles and construction sector is anticipated to boost SBC
market demand over the projected period.
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In addition, increasing SBC demand from adhesives and sealants
industry is expected to influence the market growth in near future. In
addition, rapid industrialization in emerging countries such as India
and China is likely to open new opportunities for SBC market in near
future. SBC market is anticipated to grow at good pace in Asia Pacific
and Latin America on account of growing end-use industries in this
region. However, increasing prices of petrochemicals, which are used as
an important raw material in manufacturing SBC, is anticipated to hamper
the market growth over the forecast period.
Application Insights
Paving and roofing has been the largest application segment for SBC
market over the last few years, and the trend is anticipated to continue
over the forecast period. Growing construction sector in emerging
countries including India and China is anticipated to increase the
demand for Paving and roofing activities, which in turn likely to drive
SBC market over the forecast period. Advanced materials is the second
major application segment for SBC, and has been gaining market share
over the last few years on account of shift in focus towards usage of
SBC replacing PVC, thermoplastics and rubbers.
Moreover, advanced materials have been the fastest growing
application segment over the recent past, and the trend is expected to
continue in near future. Medical sector has been witnessing strong
growth over the last few years. Increasing R&D activities to
introduce bio-based SBC is likely to open new opportunities for the
market players to penetrate more in medical sector over the projected
period. Adhesives and sealants & coatings markets have been
witnessing strong growth over the last few years on account of growing
building & construction industry. Furthermore, increasing
application scope of SBC in footwear and tire industry is anticipated to
augment the market growth over the next six years.
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Regional Insights
Asia Pacific has been the largest SBC market over the past few years
on account of increasing application scope in roofing & paving,
adhesives, sealants & coatings and medical sector in this region. In
addition, rapid industrialization in emerging countries such as India
and China is the key factor expected to drive SBC market over the
forecast period. Europe and North America are showing sluggish growth
over the past few years on account of market saturation in major end-use
industries in this region.
Competitive Insights
Increasing R&D activities by major key players to introduce
bio-based SBC is expected create an opportunity for the market to enter
in pharmaceutical and healthcare industry over the forecast period.
Volatile price of crude oil is anticipated to threaten the market
growth. However, introducing bio-based SBC is most likely to help the
market to sustain in near future. Key players in SBC market include
China Petroleum & Chemical Corporation, LCY Chemical Corp, Kraton
Polymers LLC, Dynasol LLC, Baxter International Inc., and Polyone
Corporation.
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