Styrenic Block Copolymers (SBCs) Market Size (2024 - 2029)

The Styrenic Block Copolymers market is anticipated to experience growth in its market size over the forecast period, driven by increased demand in applications such as asphalt modification and the footwear industry. Despite the initial setback due to the COVID-19 pandemic, which temporarily halted construction activities and reduced demand, the market has rebounded as restrictions eased. The focus on asphalt-free construction methods poses a challenge to market expansion, yet opportunities in hot-melt adhesives are expected to contribute positively to market growth. The Asia-Pacific region is projected to lead in market size, exhibiting the most significant growth rate during the forecast period.

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Market Size of Styrenic Block Copolymers (SBCs) Industry

Styrenic Block Copolymers - Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR (2024 - 2029) 3.92 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

Styrenic Block Copolymers (SBC) Market Major Players

*Disclaimer: Major Players sorted in no particular order

Styrenic Block Copolymers (SBCs) Market Analysis

The Styrenic Block Copolymers Market size in terms of production volume is expected to grow from 2.89 Million tonnes in 2024 to 3.62 Million tonnes by 2029, at a CAGR of 3.92% during the forecast period (2024-2029).

The COVID-19 pandemic hampered the styrenic block copolymers market. Considering this scenario, building and construction activities were stopped temporarily during the lockdown to curb the spread of the virus. According to Eurostat, the construction industry declined by 28.4% in the EU-19 countries and by 24% in the European Union (EU-27) countries, thereby witnessing a reduction in demand for styrene-butadiene-styrene (SBS). However, the market registered a significant growth rate after the restrictions were lifted due to the increasing demand from asphalt modification (paving and roofing) and footwear industries.

Over the short term, increasing applications in bitumen modification and the rising adoption in the footwear industry are expected to stimulate market demand.

However, the growing focus on asphalt-free construction of roads and roofing is expected to restrain market growth.

Growth opportunities in hot-melt adhesives are likely to create market opportunities in the coming years.

Asia-Pacific is expected to dominate the market and is likely to witness the highest CAGR during the forecast period.

Styrenic Block Copolymers (SBCs) Industry Segmentation

Styrenic block copolymers (SBCs) are a class of thermoplastic elastomers that process like plastic and behave like rubber, mainly due to the physical crosslink inherent in the SBC structure. When the SBC material is stretched, those crosslinks bring it back to its original shape. SBCs can be made from raw materials such as butadiene, styrene, and isoprene. They have a two-phase structure composed of hard polystyrene end blocks and soft rubber mid-locks. SBCs are used in asphalt modification, rigid thermoplastic impact modification, and production of soft plastic elastomer.

The styrenic block copolymers market is segmented by type, application, and geography. By type, the market is segmented into styrene-butadiene-styrene (SBS), styrene-isoprene-styrene (SIS), and hydrogenated SBC (HSBC). By application, the market is segmented into asphalt modification, footwear, polymer modification, adhesives and sealants, and other applications. The report also covers the market size and forecasts for the styrenic block copolymers (SBCs) market in 27 countries across major regions. For each segment, the market sizing and forecasts are done on the basis of volume (tons).

Type
Styrene-Butadiene-Styrene (SBS)
Styrene-Isoprene-Styrene (SIS)
Hydrogenated SBC (HSBC)
Application
Asphalt Modification (Paving and Roofing)
Footwear
Polymer Modification
Adhesives and Sealants
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Malaysia
Thailand
Indonesia
Vietnam
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Russia
Spain
Turkey
Nordic Countries
Rest of Europe
South America
Brazil
Argentina
Colombia
Rest of South America
Middle East and Africa
Saudi Arabia
United Arab Emirates
Qatar
Egypt
Nigeria
South Africa
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Styrenic Block Copolymers (SBCs) Market Size Summary

The styrenic block copolymers market is poised for significant growth over the forecast period, driven by increasing demand in various sectors such as asphalt modification and the footwear industry. The market experienced a temporary setback due to the COVID-19 pandemic, which halted construction activities and reduced demand for styrene-butadiene-styrene (SBS). However, post-pandemic recovery has been robust, with rising applications in bitumen modification and the footwear sector fueling market expansion. Despite challenges like the growing focus on asphalt-free construction, opportunities in hot-melt adhesives are expected to bolster market growth. The Asia-Pacific region, particularly countries like China, India, and Japan, is anticipated to dominate the market, benefiting from substantial investments in infrastructure and a thriving footwear industry.

The demand for modified bitumen in asphalt applications is steadily increasing, supported by ongoing road construction and maintenance activities worldwide. Governments are investing heavily in infrastructure projects, which is expected to drive the demand for styrenic block copolymers. In Asia-Pacific, China is making significant strides in highway construction, while India and Japan are witnessing growth in their construction and packaging industries, respectively. These developments are likely to enhance the demand for SBCs in the region. The market is partially consolidated, with major players like China Petrochemical Corporation, LCY Group, and Kraton Corporation leading the industry. Strategic mergers and collaborations, such as Kraton's acquisition by DL Chemical Co. Ltd, are expected to strengthen market positions and drive sustainable innovation.

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Styrenic Block Copolymers (SBCs) Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Application in Bitumen Modification

      2. 1.1.2 Rising Adoption in the Footwear Industry

    2. 1.2 Restraints

      1. 1.2.1 Growing Focus on Asphalt-free Construction of Roads and Roofing

    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

    5. 1.5 Price Overview (2019-2029)

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

    1. 2.1 Type

      1. 2.1.1 Styrene-Butadiene-Styrene (SBS)

      2. 2.1.2 Styrene-Isoprene-Styrene (SIS)

      3. 2.1.3 Hydrogenated SBC (HSBC)

    2. 2.2 Application

      1. 2.2.1 Asphalt Modification (Paving and Roofing)

      2. 2.2.2 Footwear

      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 Malaysia

        6. 2.3.1.6 Thailand

        7. 2.3.1.7 Indonesia

        8. 2.3.1.8 Vietnam

        9. 2.3.1.9 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 Russia

        6. 2.3.3.6 Spain

        7. 2.3.3.7 Turkey

        8. 2.3.3.8 Nordic Countries

        9. 2.3.3.9 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 Colombia

        4. 2.3.4.4 Rest of South America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 United Arab Emirates

        3. 2.3.5.3 Qatar

        4. 2.3.5.4 Egypt

        5. 2.3.5.5 Nigeria

        6. 2.3.5.6 South Africa

Styrenic Block Copolymers (SBCs) Market Size FAQs

The Styrenic Block Copolymers Market size is expected to reach 2.89 million tonnes in 2024 and grow at a CAGR of 3.92% to reach 3.62 million tonnes by 2029.

In 2024, the Styrenic Block Copolymers Market size is expected to reach 2.89 million tonnes.

Styrenic Block Copolymers (SBCs) Market Report Snapshots

Styrenic Block Copolymers Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)