Styrenic Block Copolymer Market
Styrenic Block Copolymer Market Size, Share & Trends Analysis Report by Type (Hydrogenated Styrenic Block Copolymers (HSBC), Styrene-Butadiene-Styrene (SBS), Styrene-Isoprene-Styrene (SIS)), by Application (Asphalt Modification, Footwear, Polymer Modification, Adhesives and Sealants, Other Application) Forecast Period (2024-2031)
Styrenic block copolymers market is anticipated to grow at a considerable CAGR of 5.1% during the forecast period (2024-2031).Styrenic Block Copolymers (SBCs) are a unique class of thermoplastic elastomer (TPE) materials that bridge the gap between rubber and plastic. They consist of hard styrene blocks providing strength and rigidity, and soft elastomeric blocks offering elasticity and flexibility.
Market Dynamics
Growing Demand from End-Use Industries
The primary driver is the rising demand from end-user sectors of SBC such as footwear, construction (asphalt modification), adhesives & sealants, and medical devices. This is fueled by factors like increasing disposable income, infrastructure development, and growing urbanization, particularly in developing economies. Thus, in order to meet the growing demand, in September 2022, Kraton Corp. has announced an expansion project for high flow hydrogenated styrenic block copolymer (HSBC) products at its joint venture manufacturing facility in Mailiao, Taiwan.
Technological Advancements
Continuous advancements in polymer science are leading to the development of new SBCs with improved properties like higher heat resistance, flame retardancy, and specific functionalities. This broadens their applicability and caters to evolving industry needs. are fueling innovation in Styrenic Block Copolymers (SBCs).
Market Segmentation
Our in-depth analysis of the global styrenic block copolymermarket includes the following segments by type, product, and technology:
- Based on type, the market is sub-segmented into Hydrogenated Styrenic Block Copolymers (HSBC), Styrene-Butadiene-Styrene (SBS), Styrene-Isoprene-Styrene (SIS)
- Based onApplication, the market is sub-segmented into asphalt modification, footwear, polymer modification, adhesives and sealants, and other application
Asphalt Modification is Projected to Emerge as the Largest Segment
Based on the technology, the global SBC market is sub-segmented into asphalt modification , footwear, polymer modification, adhesives and sealants, and other application. Among these, the asphalt modification sub-segment is expected to hold the largest share of the market. The increasing demand for durable and long-lasting roads has driven the demand forSBCs to enhance asphalt's flexibility and crack resistance, making them ideal for high-traffic areas.
Regional Outlook
The global SBC market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
Global Styrenic Block Copolymer Market Growth by Region 2024-2031
Asia-Pacific Holds Major Market Share
Among all the regions, Asia-Pacific holds a significant share owing to the high production and demand.The Asia-Pacific accounts for over 45.0% of the global SBS production. China is a major player in the region, boasts the world's highest consumption of SBCs. This translates to a significant demand for SBCs used in various industries across the country. The booming construction and automotive sectors in Asia-Pacific fuel the demand for SBCs in applications like asphalt modification and automotive parts, respectively. Further, economic growth across other Asian countries like India and Southeast Asia further propels the demand for SBCs in footwear, adhesives, and other applications.
Market Players Outlook
The major companies serving the global SBS market include Fujian Gulei Petrochemical Co., KRATON CORP., China Petroleum & Chemical Corporation (Sinopec), INEOS Styrolution Group GmbH, and JSR Corporation among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market.
For instance, In January 2019, KURARAY CO. LTD, PTT Global Chemical Public Company Ltd., and Sumitomo Corp. invested in a project for manufacturing butadiene derivatives, including thermoplastic elastomers in Thailand. The project will be operated by a joint venture called Kuraray GC Advanced Materials Co. Ltd, with an annual production capacity of 16 kilotons of TPEs.
The Report Covers
- Market value data analysis of 2023and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global SBC market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Asahi Kasei Corp.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. ZEON Corp.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. LCY Group
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global Styrenic Block Copolymer Market by Product
4.1.1. Hydrogenated Styrenic Block Copolymers (HSBC)
4.1.2. Styrene-Butadiene-Styrene (SBS)
4.1.3. Styrene-Isoprene-Styrene (SIS)
4.2. Global Styrenic Block Copolymer Market by Application
4.2.1. Asphalt Modification
4.2.2. Footwear
4.2.3. Polymer Modification
4.2.4. Adhesives and Sealants
4.2.5. Other Applications
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
5.4.1. Latin America
5.4.2. The Middle East & Africa
6. Company Profiles
6.1. CHIMEI H
6.2. China Petroleum & Chemical Corporation (Sinopec)
6.3. Denka Company Ltd.
6.4. Dynasol Group
6.5. En Chuan Chemical Industries Co., Ltd.
6.6. Fujian Gulei Petrochemical Co.
6.7. INEOS Styrolution Group GmbH
6.8. JSR Corp.
6.9. Korea Kumho Petrochemical Co., Ltd.
6.10. KRATON CORP.
6.11. Kuraray Co., Ltd.
6.12. LG Chem
6.13. SIBUR
6.14. TSRC
6.15. Versalis S.p.A.
6.16. Zhejiang Zhongli Synthetic Material Technology Co., Ltd.
1. GLOBAL STYRENIC BLOCK COPOLYMER MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
2. GLOBAL STYRENE-BUTADIENE-STYRENE (SBS) BLOCK COPOLYMER MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
3. GLOBAL STYRENE-ISOPRENE-STYRENE (SIS) BLOCK COPOLYMER MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
4. GLOBAL HYDROGENATED STYRENIC BLOCK COPOLYMERS (HSBC) MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
5. GLOBAL STYRENIC BLOCK COPOLYMER MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
6. GLOBAL STYRENIC BLOCK COPOLYMER FORASPHALT MODIFICATION MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
7. GLOBALSTYRENIC BLOCK COPOLYMER FORPOLYMER MODIFICATION MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
8. GLOBAL STYRENIC BLOCK COPOLYMER FOR FOOTWEAR MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
9. GLOBAL STYRENIC BLOCK COPOLYMER FORADHESIVES AND SEALANTS MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
10. GLOBAL STYRENIC BLOCK COPOLYMER FOR OTHER APPLICATION MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
11. GLOBAL STYRENIC BLOCK COPOLYMER MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
12. NORTH AMERICAN STYRENIC BLOCK COPOLYMER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
13. NORTH AMERICAN STYRENIC BLOCK COPOLYMER MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
14. NORTH AMERICAN STYRENIC BLOCK COPOLYMER MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
15. EUROPEAN STYRENIC BLOCK COPOLYMER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
16. EUROPEAN STYRENIC BLOCK COPOLYMER MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
17. EUROPEAN STYRENIC BLOCK COPOLYMER MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
18. ASIA-PACIFIC STYRENIC BLOCK COPOLYMER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
19. ASIA-PACIFICSTYRENIC BLOCK COPOLYMER MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
20. ASIA-PACIFIC STYRENIC BLOCK COPOLYMER MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
21. REST OF THE WORLD STYRENIC BLOCK COPOLYMER MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
22. REST OF THE WORLD STYRENIC BLOCK COPOLYMER MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
23. REST OF THE WORLD STYRENIC BLOCK COPOLYMER MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2031 ($ MILLION)
1. GLOBAL STYRENIC BLOCK COPOLYMER MARKET SHARE BY TYPE, 2023 VS 2031 (%)
2. GLOBAL STYRENE-BUTADIENE-STYRENE (SBS) BLOCK COPOLYMER MARKET SHARE BY REGION, 2023 VS 2031 (%)
3. GLOBAL STYRENE-ISOPRENE-STYRENE (SIS) BLOCK COPOLYMER MARKET SHARE BY REGION, 2023 VS 2031 (%)
4. GLOBAL HYDROGENATED STYRENIC BLOCK COPOLYMERS (HSBC) MARKET SHARE BY REGION, 2023 VS 2031 (%)
5. GLOBAL STYRENIC BLOCK COPOLYMER MARKET SHARE BY APPLICATION, 2023 VS 2031 (%)
6. GLOBAL STYRENIC BLOCK COPOLYMER FOR ASPHALT MODIFICATION MARKET SHARE BY REGION, 2023 VS 2031 (%)
7. GLOBAL STYRENIC BLOCK COPOLYMER FOR FOOTWEAR MARKET SHARE BY REGION, 2023 VS 2031 (%)
8. GLOBAL STYRENIC BLOCK COPOLYMER FOR POLYMER MODIFICATION MARKET SHARE BY REGION, 2023 VS 2031 (%)
9. GLOBAL STYRENIC BLOCK COPOLYMER FOR ADHESIVES AND SEALANTS MARKET SHARE BY REGION, 2023 VS 2031 (%)
10. GLOBAL STYRENIC BLOCK COPOLYMER FOR OTHER APPLICATIONS MARKET SHARE BY REGION, 2023 VS 2031 (%)
11. GLOBAL STYRENIC BLOCK COPOLYMER MARKET SHARE BY REGION, 2023 VS 2031 (%)
12. US STYRENIC BLOCK COPOLYMER MARKET SIZE, 2023-2031 ($ MILLION)
13. CANADA STYRENIC BLOCK COPOLYMER MARKET SIZE, 2023-2031 ($ MILLION)
14. UK STYRENIC BLOCK COPOLYMER MARKET SIZE, 2023-2031 ($ MILLION)
15. FRANCE STYRENIC BLOCK COPOLYMER MARKET SIZE, 2023-2031 ($ MILLION)
16. GERMANY STYRENIC BLOCK COPOLYMER MARKET SIZE, 2023-2031 ($ MILLION)
17. ITALY STYRENIC BLOCK COPOLYMER MARKET SIZE, 2023-2031 ($ MILLION)
18. SPAIN STYRENIC BLOCK COPOLYMER MARKET SIZE, 2023-2031 ($ MILLION)
19. REST OF EUROPE STYRENIC BLOCK COPOLYMER MARKET SIZE, 2023-2031 ($ MILLION)
20. INDIA STYRENIC BLOCK COPOLYMER MARKET SIZE, 2023-2031 ($ MILLION)
21. CHINA STYRENIC BLOCK COPOLYMER MARKET SIZE, 2023-2031 ($ MILLION)
22. JAPAN STYRENIC BLOCK COPOLYMER MARKET SIZE, 2023-2031 ($ MILLION)
23. SOUTH KOREA STYRENIC BLOCK COPOLYMER MARKET SIZE, 2023-2031 ($ MILLION)
24. REST OF ASIA-PACIFIC STYRENIC BLOCK COPOLYMER MARKET SIZE, 2023-2031 ($ MILLION)
25. LATIN AMERICA STYRENIC BLOCK COPOLYMER MARKET SIZE, 2023-2031 ($ MILLION)
26. MIDDLE EAST AND AFRICA STYRENIC BLOCK COPOLYMER MARKET SIZE, 2023-2031 ($ MILLION)
