SBS (Styrene-Butadiene-Styrene) Copolymer Block Market Analysis
SBS (Styrene-Butadiene-Styrene) Copolymer Block Market - Size, Share, Trends, and Forecast 2019 - 2027
Styrene-butadiene belongs to a family of synthetic rubbers that are derived from butadiene styrene. These materials exhibit steady resistance against abrasion and good aging stability when it is protected with additives. Styrene-butadiene-styrene (SBS) copolymer block consists of butadiene and styrene linked homopolymer blocks, which belongs to thermoplastic elastomers. It is a type of hard rubber that finds applications in tire treads, shoe soles, and other places where durability is a major issue. SBS has various physical properties such as excellent tensile strength, a good conductor of electricity, impressive low-temperature behavior, and great workability. Moreover, polystyrene, which is a touch and hard plastic get its durability from SBS only. SBS finds applications in various industries including medical devices, adhesives, automobile parts, liquid sealing, electric devices, office automation industry, waterproofing materials, polymer alteration, etc.
Global SBS (styrene-butadiene-styrene) copolymer block market size is estimated to be valued at US$ 8.12 billion by 2024, and is expected to exhibit a CAGR of 5.1% during the forecast period (2019-2027). Increasing application of SBS copolymer block in sealant and adhesive applications is expected to increase the demand for SBS copolymer block and subsequently boost the market growth. SBS copolymer block-based sealants and adhesives have shown superior performance, as they enhance product reliability and lifespan. Furthermore, increasing adoption of growth strategies such as mergers and acquisitions, partnership, and expansion by key players is expected to support the market growth in the near future. Moreover, increasing usage of waterproofing materials, increasing demand for automobile parts, and increasing demand for asphalt for road and pavement construction are expected to support the growth of the market in the near future. Furthermore, increasing demand for high-quality footwear is expected to propel the global SBS (styrene-butadiene-styrene) copolymer block market growth. The footwear companies are replacing polyvinyl chloride (PVC) with styrenic polymers, in order to observe toxicity regulations. This is expected to increase the demand for SBS copolymer block and eventually support growth of the market.
Rapidly expanding road infrastructure around the globe poses an excellent opportunity for SBS copolymer block manufactures to enhance their revenues.
Market Regional Analysis
Asia Pacific holds the largest market share and is expected to be the fastest growing market around the globe. This is owing to increased usage of altered asphalts for waterproofing purpose. Global SBS (styrene-butadiene-styrene) copolymer block market is expected to have significant growth in Europe, Middle East, Africa, Latin America, and North America, owing to rapid industrial and economic growth in respective regions.
Key players operating in global SBS (styrene-butadiene-styrene) copolymer block market include Polimeri Europa, Sinopec Maoming Company, Dexco Polymers LP, Total Petrochemicals USA, Inc., Firestone Polymer, Kraton Performance Polymers, Inc., China National Petroleum Corporation, ShenZhen Yanshan Petrochemical Trade Co., Ltd., Dynasol Elastomers, and Sinopec Baling Company.