Advancement in the End-user Industries Is Fueling the Demand of the Global SBC & Its Derivatives Market at a CAGR of 7.02% Throughout 2019-2027
“According to the new market research report published by Inkwood Research, the Global SBC and its derivatives market is propelling at a CAGR of 5.86% and 7.02%, in terms of volumes and revenue respectively, during the forecasting years.”
“Browse 51 market Data Tables and 41 Figures spread over 170 Pages, along with an in-depth TOC on global SBC and its derivatives market forecast 2019-2027.”
Styrene-block-copolymers (SBC) and its derivative compounds are thermoplastic elastomers with assets similar to rubber and are usually preferred because of their biodegradability, better flexibility and their extraordinary weatherability especially at the low temperatures. Because of their stable properties like high resistance towards the exposed weather, UV resistance, toughness, durability, high tensile strength and low drug absorption, SBC products are being progressively utilized by the building and construction industries. The SBC polymers are widely popular in the footwear industry for foaming and strap applications. In the advanced materials R&D sector, they are also used for polymer systems, compounding and for developing personal care items.
Increasing application in the healthcare industry is a rapid market growth booster
As the society is progressing towards attaining a greener environment, essential environmental friendly features like biodegradability, high resilience, toughness, optical clarity and process stability are turning the SBC and derivative end-products to be more favorable to the advancing medical sector. Also, the consistently rising requirement for advanced bio-degradable thermoplastic elastomers for the production of medical tubes, bags and syringes will be influential to their demand in the global market. Consequently, the contending market players have started investing from a major chunk of their budget in developing and introducing new variations of SBC-based medical products in the global market.
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Contribution of the Styrene butadiene styrene (SBS) segment to the market growth
Styrene butadiene styrene (SBS) is a type of hard rubber that is used for assembling the shoe soles, altering asphalt, and in other purposes where durability is a necessity. The SBS-based merchandise sub-segment is one of the major product segments in the global SBC and its derivatives market, because of its numerous applications in the end-user markets. Also, the ongoing expansion of the respective end-user industries is massively influencing the growth of the SBS product type segment of the SBC market. Some of the developing end user industries like bookbinding, disposables, and furniture, footwear and packaging, etc. belong to the healthcare, manufacturing, construction, etc. sectors.
Asia Pacific is bulking up the revenue stockpile of the global SBC market & its derivatives market
The Asia Pacific SBC & its derivatives market is projected to grasp the largest market share by the end of 2027 both in terms of revenue & volumes. The current APAC infrastructural projects are getting improvised a lot and combined with the advent of a new global manufacturing hub-China, they are going to increase the demand and adoption of SBC in the region. The Chinese dominant footwear manufacturing will also be a major driver for the SBC market in the region. The predominant healthy economic conditions are expected to propel the growth of the market in the upcoming years.
Notable players in the global SBC and its derivative market
Denki Kagaku Kogyo Kabushiki Kaisha (Denka), BASF AG, Kumho Petrochemicals Co. Ltd., Asahi Kasei Corp., TSRC, PolyOne, Kraton, Dynasol, Eastman Chemical Company, LG Chemicals, Zeon Corp., Ineos Styrolution, Sinopec, LCY Chemical Corp., Eni Versalis SPA.
About Inkwood Research
Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy; with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises of North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.