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The global styrene-butadiene-styrene (SBS) block copolymer market size is estimated to grow by USD 1,378.06 million between 2022 and 2027 exhibiting a CAGR of 5.09%. SBS block copolymers are mainly composed of homopolymerized blocks of butadiene and styrene links. They offer exceptional tensile strength and surface friction coefficient, low-temperature performance, electric properties, and good workability. SBS block copolymers can be used as a substitute for conventional vulcanized rubber owing to their high viscosity and elasticity. They can also be used as adhesives and sealants because of their tenacious properties.
The growth of the market depends on several factors, including the Increasing demand from the construction industry in emerging economies, growing consumption of SBS block copolymers in adhesives and sealant applications, and strong demand from the automotive industry.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing demand from the construction industry in emerging economies is a major SBS block copolymer driver. The global increase in infrastructure projects, driven by population growth and government support, is leading to a rise in residential construction demand. Technological advancements, such as smart building technologies, are attracting contractors to build advanced structures. Mega-events like the FIFA World Cup 2022 and Dubai Expo 2020 in the Middle East are boosting construction activities. China, with its government-driven rail and road infrastructure development, dominates the construction industry and serves as the largest market for SBS block copolymers. The entry of major European Union construction players in China further fuels industry growth. These factors contribute to the growing consumption of SBS block copolymers in the construction industry and drive the global market's growth.
Shift in feedstock type is a key trend shaping the growth of the market. The production of butadiene has undergone significant changes in the past decade, primarily due to a shift in feedstock types for ethylene production. The shale revolution in the US has resulted in increased global natural gas production. Advanced oil and gas production technologies, like horizontal drilling and hydraulic fracturing, have enabled abundant oil and gas manufacturing. This shale gas boom has led to the use of liquid cracking techniques, replacing conventional ethylene with natural gas and other petroleum products like ethane. As a result, traditional C5 and C9 petroleum feedstocks have declined in various separation units and derivative industries.
Traditionally, butadiene was extracted from the C4 stream in steam crackers, primarily using denser feedstocks like petroleum-based naphtha. However, the availability of lighter feedstocks from increased natural gas supply and exploration has reduced their prices, leading to their higher utilization in butadiene synthesis. The growing popularity of processes like butane or ethane dehydrogenation has further contributed to the shift in feedstock types for ethylene production. These factors are expected to drive the growth of the market in the forecast period.
The volatility in raw material prices is a major challenge hindering market growth. The global market faces challenges due to the volatility in the cost of petroleum-based raw materials and increasing demand in emerging economies. Raw materials like styrene, butadiene, additives, and resins are directly linked to crude oil prices, causing price fluctuations. The decline in crude oil prices has led to cost-cutting measures in the oil and gas industry. Fluctuating raw material prices impact production costs and vendor profit margins. The volatile crude oil prices will have a negative impact on the SBS block copolymer market in the forecast period.
This report extensively covers market segmentation by Application (PAM, ASC, and others), End-user (automobile, electronics, medical, and construction), and Geography (APAC, North America, Europe, South America, and Middle East and Africa).
The market share growth by the PAM segment will be significant during the forecast period. SBS block copolymers are mainly used in the modification of the rheological properties of asphalt. Asphalt is widely used in the construction of highways and roads. Consumption of SBS block copolymers in PAM applications can be expected to rise because of increased spending on home and business construction.
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The PAM segment shows a gradual increase in the market share of USD 1,705.75 million in 2017 and continue to grow by 2021. Due to the infrastructure development in emerging economies, it is becoming increasingly important to use polymers for asphalt modification as part of road construction. Different types of polymers, such as ethylene vinyl acetate, styrene-butadiene rubber, and polyethene, are used to modify the properties of asphalt to construct good roads. However, because SBS block copolymers improve the durability of the road and modify its viscosity, it is preferable to asphalt-modified paving applications. High elasticity, increased viscosity, enhanced rigidity and stiffness are available in SBS block copolymer-modified asphalt. With heavy payloads, it may also be resistant to high operating and service temperatures.
Based on end-user the market is categorized into automobile, electronics, medical, and construction. Automobile segment dominates the market during the forecast period. The automotive industry is a significant consumer of SBS block copolymers, which enhance durability and performance of automotive components. SBS block copolymers are recyclable and eco-friendly, making them preferred by automotive manufacturers. The demand for SBS in tire production, particularly for high-performance tires, drives market growth. SBS block copolymers are also used in bicycle and motorcycle tires. These factors contribute to the positive growth of the automotive segment in the global SBS block copolymer market.
APAC is estimated to contribute 54% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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In 2022, APAC was the leading geographical region in the global market, and it is likely to witness the fastest growth rate during the forecast period. The growth of the market is foreseen to be driven by an increase in demand for adhesives and sealants from a range of end-use industries, such as construction, furniture or motor vehicles.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Millerwastemills- The company offers styrene-butadiene-styrene block copolymer such as RTP 2700 Series.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Asahi Kasei Corp., BASF SE, Chevron Phillips Chemical Co. LLC, Chimei Corp., China Petrochemical Corp., DL Chemical, Dow Chemical Co., Dycon Chemicals, En Chuan Chemical Industries Co. Ltd., Eni SpA, INEOS Group Holdings SA, Lanxess AG, LCY Chemical Corp., LG Chem Ltd., Milagro Rubber Co. Inc., Miller Waste Mills Inc., Repsol SA, Solventis Ltd., TotalEnergies SE, and TSRC Corp.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The Market is witnessing significant growth, particularly in the U.S., driven by its versatile applications in various industries. SBS, a type of plastic, is prized for its excellent electrical and processing performance, making it ideal for footwear, grips, seals, adhesives, and bookbinding. Its usage extends to packaging, disposables, furniture, and construction projects, where it enhances impact strength, flexibility, and waterproofing properties. SBS finds its place alongside other polymers like Acrylonitrile Butadiene Styrene (ABS) and General Purpose Polystyrene (GPP), catering to different needs in the market. With advancements in molecular weights and processing techniques, SBS continues to evolve, offering solutions for a wide range of applications in industries such as roofing, footwear, and construction.
The market is driven by the versatility of polyolefins and bulk molding compounds. Featuring exceptional heat-sealing properties, non-oil-extended SBS is preferred in the footwear industry for its waterproof and soft-touch characteristics. In the plastics domain, oil-extended grade SBS modifies materials for enhanced aesthetics. The footwear segment benefits from SBS's attributes such as softness, aesthetics, and waterproofing. Polyethylene, with low-temperature resistance and fast drying, finds application in roofing components. SBS, with its solid content, is crucial for compounding purposes, contributing to thermoplastic melt processing and solution processing. The modified asphalts segment utilizes triblock copolymers for enhancing properties like hardness and low-temperature characteristics, making SBS a key player in various industries.
Styrene-Butadiene-Styrene (SBS) Block Copolymer Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.09% |
Market growth 2023-2027 |
USD 1,378.06 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.6 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 54% |
Key countries |
US, China, Japan, India, and France |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Asahi Kasei Corp., BASF SE, Chevron Phillips Chemical Co. LLC, Chimei Corp., China Petrochemical Corp., DL Chemical, Dow Chemical Co., Dycon Chemicals, En Chuan Chemical Industries Co. Ltd., Eni SpA, INEOS Group Holdings SA, Lanxess AG, LCY Chemical Corp., LG Chem Ltd., Milagro Rubber Co. Inc., Miller Waste Mills Inc., Repsol SA, Solventis Ltd., TotalEnergies SE, and TSRC Corp. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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