Styrene Butadiene Styrene (SBS) Market Size (2024 - 2029)

The styrene butadiene styrene (SBS) market is experiencing significant growth, recovering from the negative impacts of the COVID-19 pandemic. The market size is being driven by the rapid expansion of the footwear industry and increased demand in the construction sector, particularly for modified bitumen. Despite challenges such as fluctuating raw material prices and high production costs, the market is poised for expansion due to increased research and development and technological advancements. The Asia-Pacific region, led by countries like China and India, continues to dominate the market in terms of consumption.

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Market Size of Styrene Butadiene Styrene (SBS) Industry

Styrene Butadiene Styrene (SBS) Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 6.00 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Low

Major Players

Styrene Butadiene Styrene (SBS) Market Major Players

*Disclaimer: Major Players sorted in no particular order

Styrene Butadiene Styrene (SBS) Market Analysis

The Styrene Butadiene Styrene (SBS) market is expected to register a CAGR of greater than 6% during the forecast period.

The market was negatively impacted due to the COVID-19 pandemic. Due to the outbreak of COVID-19, various end-user industries were affected in the styrene butadiene styrene (SBS) market. Currently, the market has recovered from the pandemic and is growing at a significant rate.

  • Over the short term, the rapid expansion of the footwear industry is projected to have an impact on the growth of the styrene butadiene styrene (SBS) market. In accordance with this, rising modified bitumen demand in the construction sector and increased usage of the styrene-butadiene-styrene market in the footwear industry are expected to be significant variables encouraging the expansion of the styrene-butadiene-styrene (SBS) market throughout the projected period.
  • However, factors like fluctuation in raw material prices and the high production costs are expected to be major limitations on the growth rate of the styrene butadiene styrene (SBS) market during the projected period.
  • Nevertheless, a rise in research and development expenditure and fast technological innovation are projected to provide a range of growth opportunities for the styrene butadiene styrene (SBS) market during the forecast period.
  • The Asia-Pacific region dominated the market globally, with the largest consumption coming from countries such as China and India, and this is expected to remain the same in the future.

Styrene Butadiene Styrene (SBS) Industry Segmentation

Styrene Butadiene Styrene (SBS) is created by polymerizing styrene and butadiene in an organic solvent. It is utilized as an asphalt modifier, waterproof sheet, adhesive, compounding, and plastic modifier.

The Styrene Butadiene Styrene (SBS) market is segmented by type, application, and geography. By type, the market is segmented into oil extended and non-oil extended. By application, the market is segmented into footwear, asphalt modification, polymer modification, adhesives and sealants, and other applications. The report also offers market size and forecasts for 15 countries across major regions. For each segment, market sizing and forecasts have been done based on revenue (USD million).

Type
Oil Extended
Non-Oil Extended
Application
Footwear
Asphalt Modification
Polymer Modification
Adhesives and Sealants
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Styrene Butadiene Styrene (SBS) Market Size Summary

The Styrene Butadiene Styrene (SBS) market is poised for significant growth, driven by its versatile applications and recovery from the pandemic's impact. As a thermoplastic elastomer, SBS offers the flexibility of rubber and the moldability of plastics, making it ideal for industries such as footwear and construction. The footwear sector, in particular, is experiencing rapid expansion, which is expected to bolster the demand for SBS due to its benefits over traditional rubber, including increased comfort, durability, and reduced weight. Additionally, the construction industry's rising demand for modified bitumen further supports the market's growth. However, challenges such as fluctuating raw material prices and high production costs may hinder progress. Despite these challenges, advancements in research and technology are anticipated to create new opportunities for market expansion.

The Asia-Pacific region, led by China and India, dominates the global SBS market, with China being the largest consumer. The region's growth is fueled by increasing disposable incomes and a booming construction sector, which is the largest globally. SBS's application in adhesives and sealants, particularly in construction and roofing, enhances its market appeal due to improved performance characteristics. The market is characterized by a mix of large and small players, with companies like Kraton Corporation and China National Petroleum Corporation playing significant roles. Recent developments, such as Kraton's expansion of SBS production in Ohio, highlight the industry's commitment to meeting growing demand. Overall, the SBS market is expected to continue its upward trajectory, supported by its diverse applications and regional growth dynamics.

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Styrene Butadiene Styrene (SBS) Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Rapid Expansion of the Footwear Industry

      2. 1.1.2 Rising Modified Bitumen Demand in the Construction Sector

    2. 1.2 Restraints

      1. 1.2.1 Fluctuation in Raw Material Prices and the High Production Costs

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Type

      1. 2.1.1 Oil Extended

      2. 2.1.2 Non-Oil Extended

    2. 2.2 Application

      1. 2.2.1 Footwear

      2. 2.2.2 Asphalt Modification

      3. 2.2.3 Polymer Modification

      4. 2.2.4 Adhesives and Sealants

      5. 2.2.5 Other Applications

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Styrene Butadiene Styrene (SBS) Market Size FAQs

The Styrene Butadiene Styrene (SBS) Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

Kraton Corporation, China National Petroleum Corporation (CNPC), Kumho Petrochemical Co., Ltd, LG Chem Ltd. and LCY GROUP are the major companies operating in the Styrene Butadiene Styrene (SBS) Market.

Styrene Butadiene Styrene (SBS) Report Snapshots

Styrene Butadiene Styrene (SBS) Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)