The global market for Styrenic Block Copolymer (SBC) is expected to reach $8.26 billion by 2020, according to a new study by Grand View Research, Inc. Growth of major end use industries including construction/infrastructure and footwear, especially in high growth markets of China, India and Brazil is expected to be a key factor for SBC market development. Volatile raw material prices are expected to be a key challenge for market participants over the forecast period.
Styrene-butadiene-styrene (SBS) emerged as the leading product segment and accounted for 76.2 percent of total market volume in 2013. SBS was followed by HSBC (Hydrogenated Styrenic Block Copolymers) which accounted for 13.2 percent of total market volume in 2013. HSBC is also expected to be the fastest growing product segment, at an estimated CAGR of 5.3 percent from 2014 to 2020.
The report "Styrenic Block Copolymer (SBCs) Market Analysis By Product (SBS, SIS, HSBC), By Application (Paving and Roofing, Footwear, Advanced Materials, Adhesives, Sealants, Coatings) And Segment Forecasts To 2020," is available now to Grand View Research customers .
Further Key Findings from the Study Suggest:
The global market for SBC was 1, 814.8 kilo tons in 2013 and is expected to reach 2, 457.9 kilo tons by 2020, growing at a CAGR of 4.5 percent from 2014 to 2020.
Paving and roofing applications dominated SBC demand, accounting for 36.1 percent of total market volume in 2013. Paving and roofing was followed by footwear which accounted for 24.6% of total market volume in the same year. However, advanced materials are expected to be the fastest growing application market for SBCs, at an estimated CAGR of 5 percent from 2014 to 2020.
Asia Pacific continued its dominance in the global SBC market and accounted for 45.6 percent of total market volume in 2013 to become the largest regional SBC consumer. Asia Pacific along with being the largest market is also expected to be the fastest growing market for SBC at an estimated CAGR of 4.8 percent from 2014 to 2020.
The global SBC market is highly concentrated, as top four companies including Sinopec, Kraton, LCY Chemical and Dynasol accounted for over 60 percent of total market in 2013. Some of the other companies operating in the global SBC market include LG Chemicals,TSRC and Dushanzi.
Global SBC Market Value is Estimated to Reach $8.26 B by 2020
Published May 23, 2014
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