Report Scope: This study covers in-depth many of the most important technological, economic, and environmental considerations in the SBC market. The objective of the report is to identify new technologies and applications in the SBC market.
New York, Dec. 09, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Styrenic Block Copolymers: Global Markets" - https://www.reportlinker.com/p06372339/?utm_source=GNW
The market is segmented by type, application, and region.
This report analyzes the growth potential of the SBC market, with 2021 as the base year and providing estimates for 2022 to 2027.This report also focuses on identifying key end users and industries that will affect the major market trends.
The report covers key trends, which are expected to contribute to high demand due to the huge demand created by end users, technological advancement, and easy availability of raw materials. This means that the market will show significant growth during the forecast period.
With a thorough market segmentation by packaging type, location, and application, the study seeks to give readers an overview of the market.During the projected period, a significant amount of growth is anticipated in the global market for SBCs.
The research analyses important trends and opportunities in the industry and delivers vital statistics on the market status of the top players in SBCs.
- 45 data tables and 35 additional tables
- A brief general outlook of the current and future global markets for styrenic block copolymers (SBCs)
- Analyses of the global market trends, with market revenue data for 2021, estimates for 2022 and 2023, and projections of compound annual growth rates (CAGRs) through 2027
- Highlights of the upcoming market potential for styrenic block copolymers, growth driving factors and industry-specific challenges, and areas of focus to forecast this market into various segments and sub-segments
- Global market outlook and estimation of the actual market size for styrenic block copolymers, revenue forecasts, and corresponding market share analysis by product, application, and region
- Coverage of the technological, economic, and business considerations of the global market for SBCs, with analyses and growth forecasts through 2027
- Information on the recent industry structure, current competitive environment, worldwide shifts and regulations that will influence the demand over the coming years (2022-2027)
- Identification of the companies best positioned to meet this demand owing to or in conjunction with their proprietary technologies, product launches, M&A deals, and other market strategic advantages
- Analysis of the vendor landscape and company value share analysis based on their segmental revenues
- Company profiles of major players within the industry, including Asahi Kasei Corp., BASF SE, China Petrochemical Corp. (Sinopec), INEOS Styrolution and LG Chem
The global styrenic block copolymer market size was estimated at $REDACTED in 2021, and the market is projected to register a CAGR of REDACTED% during the forecast period of 2022-2027.
COVID-19 had a negative effect on the market in 2020.Building and construction work was temporarily halted during the lockdown to restrict the spread of new COVID-19 cases.
For instance, according to Eurostat, the demand for styrene-butadiene-styrene (SBS) in roofing felt and shingle applications as well as SBC-based adhesives and sealants in various construction activities decreased. The construction industry declined by REDACTED% in EU-19 countries and by REDACTED% in European Union (EU-27) countries.
However, the pandemic scenario increased the demand for SBC-based medical bags, containers, tubing, mattresses, and other items, which boosted the market’s demand.
In 2022, the market for SBCs has resumed and reached pre-pandemic revenues.
The market is anticipated to develop in the near future as a result of the growing use of styrene block copolymers in bitumen modification, which are mostly employed in road construction and maintenance applications.When the aggregates are prone to stripping, modified bitumen performs better than ordinary bitumen.
It can also be utilized in busy junctions, bridge decks, and roundabouts for increased surfacing life due to its better creep resistance qualities.
On the other hand, SBCs are under competition from alternatives like thermoplastic polyurethane and thermoplastic polyolefin elastomers in a variety of applications. Future market prospects are likely to come from the creation and release of new goods with hot-melt adhesives that have improved properties and growth potential.
Asia-Pacific dominated the market under investigation, and throughout the projected period, the region is anticipated to see the greatest CAGR.The North American and European regions witnessed sluggish growth rates owing to the matured stage of the product.
In RoW, SBC is likely to witness growth owing to various upcoming construction projects.
In terms of types, unhydrogenated styrenic block copolymers (USBCs) accounted for the largest share. However, hydrogenated styrenic block copolymers (HSBCs) such as styrene/ethylene-butylene/styrene (SEBS) and styrene-ethylene-propylene/styrene (SEPS) are likely to witness high growth owing to enhanced performance.
Additionally, the sector will benefit from government regulations that are stringent enough to prohibit the use of PVC.Growing applications in bitumen modification will hasten the growth of this industry.
The high resistance and thermal stability of SBC will also contribute to the market’s growth.The expansion of the market will be hampered by changes in raw material prices.
The limited hydrocarbon resistance of styrenic block copolymers will also limit the market growth. The cost-effectiveness of SBC in replacing rubber, PVC, and other thermoplastics in a variety of industrial applications, together with growing environmental concerns, are two key drivers anticipated to boost global demand throughout
the forecasted period.
Read the full report: https://www.reportlinker.com/p06372339/?utm_source=GNW
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