The global styrenic block copolymers market size is expected to reach USD 10.8 billion by 2025

NEW YORK, July 9, 2019 /PRNewswire/ -- Read the full report: https://www.reportlinker.com/p05785334/?utm_source=PRN


The global styrenic block copolymers market size is expected to reach USD 10.8 billion by 2025. The market is projected to expand at a CAGR of 6.8% from 2019 to 2025. Increasing demand for advanced materials in building & construction to meet structural requirements is a key factor propelling the use of polymer modified bitumen and high-performance plastics. Structural applications requiring strength and lightweight materials are composed of copolymers as reinforcing agents as opposed to traditional metals.

Regulations by several governments to promote sustainable construction practices for energy utilization and to reduce building waste are also likely to augment the demand for SBCs. Paving & roofing application accounted for 34.0% of the global volume in 2018. The shift in trend towards developing alternative routes for production using bio-based raw materials is expected to positively influence the industry dynamics as they are recyclable and reusable, which has enabled the substitution of PVCs, rubber, and other conventional materials.

Styrene-Butadiene Styrene (SBS) was the most widely used product with its key applications ranging from paving & roofing to adhesives & sealants. The segment was valued at USD 4.94 billion in 2018. Footwear, polymer modification, and adhesive applications collectively accounted for nearly 57% of the overall SBS volume in 2018. Increasing demand for SBS in the modification of polymers, such as ABS, high impact polystyrene, EVOH, polyolefins, and bulk molding compounds, as a means to impart impact strength, durability, and flexibility will drive segment growth in future.

Further key findings from the study suggest:
• The global styrenic block copolymers market demand was over 2.22 kilotons in 2018 and is expected to reach 3.08 kilotons registering a CAGR of 4.8% from 2019 to 2025
• Asia Pacific was the dominant consumer and accounted for over 45% of the overall volume in 2018. The region is characterized by favorable outlook on end-use industries
• Strong growth in the manufacturing and construction sectors in the region is touted to drive demand for adhesives, sealants, cable wires, and high-performance plastics, thereby boosting the product demand
• Key companies in this market include Asahi Kasei, Chevron Philips, LG Chem, Dynasol Elastomers, Momentive Specialty Chemicals, Eastman, Kraton Performance Polymers, INEOS Styrolution, and BASF SE
• The market also has a strong presence of integrated companies who are actively involved in raw material production as well

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