
San Francisco, 25 March 2045: The Report Styrenic Block Copolymer Market Size, Share & Trends Analysis Report By Product (Hydrogenated Styrenic Block Copolymers, Styrene-butadiene-styrene, Styrene-isoprene-styrene), By Application, By Region, And Segment Forecasts, 2024 - 2045
The global styrenic block copolymer market size is expected to reach USD 17.37 billion by 2045, registering a CAGR of 5.3% during the forecast period, according to a new report by Grand View Research, Inc. 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.
The styrenic block copolymers (SBC) are produced by ionic copolymerization of styrene, isoprene, and butadiene and are considered one of the largest volume commercial thermoplastic elastomers. The market is expected to be driven by the rising demand from various applications such as footwear, adhesives & sealants, paints & coatings, polymer modification, paving and roofing, toys, and medical devices.
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Rising positive coronavirus cases again in China and across the globe have up surged the demand for medical components such as IV drip chambers, bags, and tubing, further projecting to propel market growth. Rising positive coronavirus cases again in China and across the globe have up surged the demand for medical components such as IV drip chambers, bags, and tubing, further projecting to propel market growth.
On account of their molecular structure, styrenic block copolymers possess processing characteristics of thermoplastics and mechanical properties of rubbers. SBC’s consist of one soft elastomeric midblock and two hard polystyrene end blocks. The styrenic block copolymers display good elastomeric properties once they have solidified and exhibited higher tensile strength, compared to unreinforced vulcanized rubbers.
The raw materials of styrenic block copolymers such as styrene, isoprene, and butadiene are derived from derivatives of crude oil. External factors that could affect the price of raw materials include the unpredictability of changes in laws or regulations, war, pandemics, political instability, production disruption, natural disasters, civil unrest, terrorist attacks, and degradation of transportation infrastructure used to deliver raw materials in any of the countries. Future supply-demand changes is likely to lead to volatility in the prices of styrenic block copolymers. The cost of these raw materials is also significantly influenced by the changes in energy prices. For instance, the on-going eastern European geopolitical conflict between Russia and Ukraine has spiked energy prices thus significantly imprinting its marks on the styrenic block copolymers’ raw material prices.