The global styrenic block copolymer market size is expected to reach USD 12.72 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.8% from 2023 to 2030. The major driving force behind the industry growth is the increasing use of polymer-modified bitumen and high-performance polymers in the building & construction industry. The lightweight characteristics have also contributed to the increasing consumption of styrenic block copolymers (SBCs) as reinforcing agents in structural applications and as a substitute for metals. In addition, laws promoting sustainable construction methods as a way to lower building waste and energy use are anticipated to positively influence the SBC consumption trends. Raw material prices play a significant role in industry growth.
Given the unprecedented rise in energy, raw material, and crude oil costs, KRATON Corp. in June 2022 announced an increase in the price of HSBC copolymers by USD 0.33 per kg. The growing demand for SBCs has driven styrenic block manufacturers to develop new research and development centers to produce enhanced SBC products. For instance, in December 2021, TSRC commissioned its new global R&D center at TSRC Specialty Materials LLC in Texas, U.S. This is the first R&D center constructed by the company outside Taiwan. New product offerings by key players are witnessed in the global industry to strengthen their market position. In January 2020, LCY Group launched the GLOBALPRENE GP7533, a new ultra-high molecular weight SEBS block copolymer, for adhesive, polymer modification, medical, automotive, and general TPE compounding markets.
Request a free sample copy or view report summary: Styrenic Block Copolymers (SBC) Market Report
SBS was the highest consumed product with its key applications ranging from paving & roofing to adhesives & sealants
Volatility in raw material prices is expected to act as a restraining factor for the industry's growth
Asia Pacific was the dominant region in 2022 due to the strong growth in the construction and manufacturing sectors, which drives the demand for high-performance plastics, wires & cables, and adhesives & sealants
There is a significant presence of integrated companies in the industry that are actively involved in raw material production as well
In August 2021, Asahi Kasei Corp. announced the discontinuation of its Asaflex clear SBC business and plans to halt complete sales of SBC products by September 2023
In September 2021, Shanghai Jinshan Baling New Material Co. Ltd. and Shanghai Petrochemical Co., Ltd., subsidiary companies of Sinopec, agreed to set up a joint venture with a 50/50 stake to produce SBCs including SBS, SIS, SEPS, and SEBS, and Solution Styrene Butadiene Rubber (SSBR)
Grand View Research has segmented the global styrenic block copolymer market on the basis of product, application, and region:
Styrenic Block Copolymer Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Styrenic Block Copolymer Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Adhesives & Sealants
Paving & Roofing
Polymer Modification & Compounding
Wires & Cables
Paints & Coatings
Styrenic Block Copolymer Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Central & South America
Middle East & Africa
United Arab Emirates
List of Key Players in the Styrenic Block Copolymer Market
Zeon Europe GmbH
Asahi Kasei Corp.
China Petrochemical Corp.
INEOS Styrolution Group GmbH
Korea Kumho Petrochemical Co., Ltd.
En Chuan Chemical Industries Co., Ltd.
Denka Company Ltd.
Kuraray Co., Ltd.
This report has a service guarantee. We stand by our report quality.
Your transaction & personal information is safe and secure.
Design an exclusive study to serve your research needs.
Get your queries resolved from an industry expert.
Avail customized purchase options to meet your research needs:
"The quality of research they have done for us has been excellent..."