Industry Insights
Styrenic Block Coplolymers (SBC) is eco friendly 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 eco friendly 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. 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.
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.
