Styrenic Block Copolymer Market Size, Share & Trends Analysis Report By Product (Styrene-Butadiene-Styrene, Styrene-Isoprene-Styrene, Hydrogenated Styrenic Block Copolymers), And Segment Forecasts, 2019 - 2025

Industry Insights

The global styrenic block copolymer market size was valued at USD 6.88 billion in 2018 and is expected to register a CAGR of 6.76% over the forecast period. Recent developments in the manufacturing and construction sectors are likely to drive the demand for the styrenic block copolymer in various application segments. Increasing use of environment friendly and energy saving products is also expected to influence the market positively.

Styrenic butadiene copolymers represent a versatile family of resins for adhesive and sealant development. Formulations prepared with SBC resin as a base polymer offer a unique combination of properties and find applications in diverse markets. Various SBC properties such as crystal clarity, design versatility, high resistance, excellent thermal stability, and sterilizability by gamma irradiation, ethylene oxide gas, and mutagenic or irritant potential are anticipated to favor the demand for styrenic block copolymers (SBCs).

Compounding SBC polymers with other copolymers and polyolefins can produce equally significant improvements in film properties such as greater puncture resistance, improved stress cracking resistance, and elastic recovery. Prominent trends include customized nanostructured surfaces, weight reduction, improvement in application performance and safety, and tailoring of commodity plastics to meet customers’ needs and applications.

Recent advances in polymerization techniques have led to the development of elastomeric block copolymers produced with polyStyrenic and polymerized soy-derived triglycerides. While the past two decades of plant-oil based polymer research have yielded only thermosets, the newly produced polymers are thermoplastic elastomers that can be processed at high temperatures.

Product Insights

SBS is widely used in applications demanding high-performance such as polymer modification, asphalt/bitumen modification, vulcanized compounding, and adhesives and sealants. It has significant advantages in adhesives formulation as it easily flows at processing temperatures and acts like reinforced elastic rubber under standard application conditions.

It can be combined with various molecular weights, therefore leading to an extensive selection of polymers. It can also be utilized in many challenging end-use industries such as bookbinding, disposables and furniture, footwear, and packaging. It exhibits numerous other beneficial characteristics, which have significantly contributed to its demand in various applications.

Asia Pacific emerged as the fastest-growing market for SBS owing to the presence of several expanding end-use industries, rising population, growing consumer disposable income, and growing awareness regarding the added benefits of these copolymers in various applications. SBS is used in the modification of various polymers such as Acrylonitrile Butadiene Styrenic (ABS), General-Purpose PolyStyrenic (GPP), High-Impact PolyStyrenic (HIS), ACS, Ethylene Vinyl Alcohol (EVOH), polyolefins, and bulk molding compounds.

SBS, in conjunction with the aforementioned polymers, improves impact strength, flexibility, durability, and heal sealing properties of the final formulation. Polymers modified with SBS find usage across a wide array of end-use industries such as home appliances, automotive parts, storage containers, fibers, and general consumer goods.

Regional Insights

Asia Pacific is expected to emerge as the leading regional market owing to high product demand from end-use industries, such as paving and roofing, footwear, adhesives and sealants, and medical devices. Rapid expansion in the construction sector, due to government schemes promoting basic amenities and growing need for affordable housing, is driving the growth in emerging economies such as India, China, and Indonesia.

Asia Pacific also emerged as the largest and fastest-growing market for SIS. Growing awareness regarding the benefits of this material is driving the substitution of PVC and other toxic compounds with this eco-friendly alternative. SIS is highly suitable for paving and roofing applications owing to its various properties that foster a competitive life-cycle, reduced crack formation, increased abrasion resistance, and other advantages. The rise in demand for permanent houses in rural areas of emerging economies such as India and South East Asian countries is expected to drive the demand for durable, low-cost roofing systems. The market is likely to benefit from rising investments in residential and non-residential construction sectors by government as well as foreign players to provide sustainable housing and commerce facilities in economies such as India, Vietnam, Thailand, and Indonesia.

Increasing product demand from paving and roofing applications and strong infrastructure development in Canada and Mexico are anticipated to drive the Styrenic block copolymer market in the North America region over the forecast period. Approval from the U.S. FDA and the U.S. Pharmacopoeia to use these block copolymers in the medical industry to reduce dependency on polyvinyl chloride (PVC) is expected to augment the market growth.

In Europe, factors such as recovery of overall economy and growth of end-use industries such as footwear, automotive, and infrastructure are anticipated to drive the market growth in the region over the forecast period. Countries such as Germany, France, Italy, Russia, and U.K. are the major producers and consumers of these block copolymers. Polymer modification is one of the major application segments and is set to play an important role in the growth of overall industry.

Styrenic Block Copolymer Market Share Insights

Most of the key players operating in the market have integrated their raw material production and distribution operations to maintain product quality and expand regional reach. This provides companies a competitive advantage in the form of cost benefits, thus increasing the profit margin.

Companies are undertaking research and development activities to develop new block copolymers with enhanced properties to sustain market competition and changing end-user requirements. Some of the popular technologies are anionic polymerization and high melt flow polymerization. Anionic polymerization is gaining popularity since it takes place in batches in the presence of a non-polar hydrocarbon solvent, which makes the process easier and faster. Research activities focused on new materials, which combine several properties, are projected to gain wide acceptance in this industry in the coming years.

Some of the prominent companies manufacturing block copolymers are BASF SE, Zeon Corporation., Versalis S.p.A., Ineos Styrolution, Denka, Eastman Chemical Company, LG Chemicals, Asahi Kasei Corporation, Chevron Phillips Corporation, China Petrochemical Corporation, En Chuan Chemical Industries Co., Ltd., and JSR Corporation.

Report Scope

Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global styrenic block copolymer market report on the basis of product and region:

• Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  • Styrene-Butadiene-Styrene

  • Styrene-Isoprene-Styrene

  • Hydrogenated Styrenic Block Copolymers

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • South East Asia

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • Saudi Arabia

    • UAE