세계의 스티렌계 블록 공중합체(SBC) 시장 예측(-2030년) : 제품, 용도, 최종사용자 및 지역별 분석

According to Stratistics MRC, the Global Styrenic Block Copolymer (SBC) Market is accounted for $8.8 billion in 2023 and is expected to reach $14.9 billion by 2030 growing at a CAGR of 7.8% during the forecast period. High-performance thermoplastic elastomers known as styrenic block copolymers are utilized specifically to enhance the application and performance of the products. Block copolymers with an elastic center arrangement and end segments made of polystyrene are known as styrenic block copolymers (SBCs), which combine the qualities of a thermoplastic resin and an elastomer. They often exhibit outstanding thermal stability, high resistivity, and high crystal clarity, which indicates that they have no mutagenic or cytotoxic potential.

According to International Energy Agency (IEA), there were 10 million electric cars on the world's roads at the end of 2020, following a decade of rapid growth.

Market Dynamics:

Driver:

Increasing the production of electric vehicles

Rapid development in the automotive sector offers new potential for thermoplastic elastomers (TPEs) to grow. One of the most intriguing developments in automotive TPEs has been the increased use of styrene block copolymer (SBC) TPEs as substitutes in situations where thermoplastic vulcanizates (TPVs) may be deemed "over-engineered" in terms of performance requirements, as well as in situations where SBCs provide unique advantages. Production and uptake of electric vehicles are anticipated to rise globally.

Restraint:

Fluctuations in the price of crude oil

Crude oil's price has been highly erratic during the past few years. Copolymers of rubber and polystyrene blocks are known as styrene block polymers. Crude oil is used to make butadiene and polystyrene (PS). The primary raw materials required to produce styrene block copolymers, butadiene and polystyrene, have fluctuated in price due to the erratic nature of the price of oil. Therefore, the price of styrene block copolymer is directly impacted by changes in the price of crude oil, which is a significant challenge for the styrene block copolymer market over the projection period.

Opportunity:

Increasing infrastructure investments worldwide to support growth

The demand for road and highway maintenance is expected to increase, and there will certainly be ample opportunities for the asphalt paving business worldwide as infrastructure grows. Increased road traffic will necessitate ongoing urban and rural expansion and road construction, which is expected to propel the growth rate of the asphalt paving sector. Additionally, the development of paved road networks in developing nations like China, India, and Brazil is costing enormous amounts of money, and this is expected to have a positive impact on the asphalt paving companies.

Threat:

Limitations on the environment and economic turbulence

The SBC market may be threatened by rising environmental concerns and restrictions pertaining to plastic waste and emissions. The manufacturing, usage, and disposal of plastic materials may be subject to stricter regulations from governments and regulatory agencies, which may have an effect on the demand for SBCs. Additionally, the demand for consumer goods and industrial products, which are two of the main end-use applications for SBCs, may decrease during economic downturns or recessions. The demand for SBCs and market expansion may be adversely impacted by decreased consumer expenditure and decreased industrial activity.

COVID-19 Impact:

Different industries, including those in construction, automotive, medicine, and hygiene, may experience the pandemic's effects on SBCs differently. During the pandemic, it's anticipated that industries like healthcare, personal care, and food packaging will grow quickly, which may assist the market. The widespread restrictions intended to reduce the COVID-19 spread are likely to have a negative impact on the construction industry. Indirect effects would occur on projects that are permitted to proceed. Construction materials are transported from nations battling COVID-19, many of which have closed manufacturing to combat the pandemic.

The styrene butadiene styrene (SBS) segment is expected to be the largest during the forecast period

Due to the expanding demand from the construction, adhesives and sealants, and polymer footwear sectors, the styrene butadiene styrene (SBS) segment is anticipated to have the largest market over the projection period. The building sector uses SBS for paving and roofing purposes. Additionally, SBS is utilized in modified bituminous roofing materials to impart a variety of qualities, such as superior waterproofing capabilities, thermal degradation tolerance, stability across a wide temperature range, long-term performance, and enhanced aesthetics.

The construction segment is expected to have the highest CAGR during the forecast period

Owing to a rise in the demand for styrenic block copolymers in the construction sector for the modification of polymers and asphalt, the construction segment is estimated to witness lucrative growth over the projection period. Additionally, styrenic block copolymers are also frequently used in the production of paints, adhesives, and sealants, all of which are extensively used in the construction sector. For instance, the US Census Bureau reports an increase in building and construction operations. Construction spending was projected to total US$1,639.9 billion in December 2021, up 0.2 percent (0.8 percent) from the revised estimate of US$1,636.5 billion in November.

Region with largest share:

Due to increased use of bitumen modification, increased resistance and thermal stability of SBC, increased environmental concerns, and the low cost of SBC, this region is expected to hold the largest share over the extrapolated period. SBC is expected to replace rubber, PVC, and other thermoplastics in many industrial applications. Additionally, the growth of infrastructure and business construction projects in nations like Australia, China, Vietnam, and India is anticipated to boost demand for styrenic block copolymers in the region during the course of the projected year.

Region with highest CAGR:

Over the predicted period, Asia-Pacific is expected to grow profitably. The main trending factor driving material demand is rapid industrialization, together with the expansion of the manufacturing sector due to the availability of skilled workers. Increased SBC usage in footwear should have a favorable impact on the expansion of the regional sector. China is one of the primary countries that produces footwear, followed by India. Additionally, to improve the qualities of the finished product in the area, modest amounts of SBS are added to asphalt in modification applications, averaging around 2-6% by weight for asphalt used in road paving and around 11% by weight for roofing felts and shingles.

Key players in the market:

Some of the key players in Styrenic Block Copolymer (SBC) market include: INEOS, Asahi Kasei Corporation, Avient Corporation, BASF SE, China Petrochemical Corporation, Denka Company Limited, En Chuan Chemical Industries Co, Grupo Dynasol, JSR Corporation, Kraton Corporation, Kumho Petrochemical Co. Ltd, Kuraray co. Ltd, LCY Group, LG Chem, TSRC Corporation, Versalis S.p.A. and Zeon Corporation.

Key Developments:

In September 2023, BASF launches new sunscreen ingredient TinomaxTM CC. TinomaxTM CC meets growing demand for multifunctional solutions with improved SPF and UVA protection.

In July 2023, BASF to supply Neopentyl Glycol from Zhanjiang to KHUA. KHUA is planning to build a 100KT/a production plant for high-end powder coatings resins in Zhanjiang. Partnership will help to meet the growing demand for low-emission powder coatings in China and the wider Asia Pacific region

Products Covered:

• Styrene - Ethylene - Propylene - Styrene (SEPS)
• Styrene - Ethylene - Butylene - Styrene (SEBS)
• Styrene Isoprene Styrene (SIS)
• Styrene Butadiene Styrene (SBS)
• Other Products

Applications Covered:

• Paints & Coatings
• Wires & Cables
• Packaging
• Toys
• Healthcare
• Polymer Modification & Compounding
• Paving & Roofing
• Other Applications

End Users Covered:

• Electrical & Electronics
• Construction
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Product Analysis
• 3.7 Application Analysis
• 3.8 End User Analysis
• 3.9 Emerging Markets
• 3.10 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Styrenic Block Copolymer (SBC) Market, By Product

• 5.1 Introduction
• 5.2 Styrene - Ethylene - Propylene - Styrene (SEPS)
• 5.3 Styrene - Ethylene - Butylene - Styrene (SEBS)
• 5.4 Styrene Isoprene Styrene (SIS)
• 5.5 Styrene Butadiene Styrene (SBS)
• 5.6 Other Products

6 Global Styrenic Block Copolymer (SBC) Market, By Application

• 6.1 Introduction
• 6.2 Paints & Coatings
• 6.3 Wires & Cables
• 6.4 Packaging
• 6.5 Toys
• 6.6 Healthcare
• 6.7 Polymer Modification & Compounding
• 6.8 Paving & Roofing
• 6.9 Other Applications

7 Global Styrenic Block Copolymer (SBC) Market, By End User

• 7.1 Introduction
• 7.2 Electrical & Electronics
• 7.3 Construction
• 7.4 Other End Users

8 Global Styrenic Block Copolymer (SBC) Market, By Geography

• 8.1 Introduction
• 8.2 North America
  • 8.2.1 US
  • 8.2.2 Canada
  • 8.2.3 Mexico
• 8.3 Europe
  • 8.3.1 Germany
  • 8.3.2 UK
  • 8.3.3 Italy
  • 8.3.4 France
  • 8.3.5 Spain
  • 8.3.6 Rest of Europe
• 8.4 Asia Pacific
  • 8.4.1 Japan
  • 8.4.2 China
  • 8.4.3 India
  • 8.4.4 Australia
  • 8.4.5 New Zealand
  • 8.4.6 South Korea
  • 8.4.7 Rest of Asia Pacific
• 8.5 South America
  • 8.5.1 Argentina
  • 8.5.2 Brazil
  • 8.5.3 Chile
  • 8.5.4 Rest of South America
• 8.6 Middle East & Africa
  • 8.6.1 Saudi Arabia
  • 8.6.2 UAE
  • 8.6.3 Qatar
  • 8.6.4 South Africa
  • 8.6.5 Rest of Middle East & Africa

9 Key Developments

• 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 9.2 Acquisitions & Mergers
• 9.3 New Product Launch
• 9.4 Expansions
• 9.5 Other Key Strategies

10 Company Profiling

• 10.1 INEOS
• 10.2 Asahi Kasei Corporation
• 10.3 Avient Corporation
• 10.4 BASF SE
• 10.5 China Petrochemical Corporation
• 10.6 Denka Company Limited
• 10.7 En Chuan Chemical Industries Co
• 10.8 Grupo Dynasol
• 10.9 JSR Corporation
• 10.10 Kraton Corporation
• 10.11 Kumho Petrochemical Co. Ltd
• 10.12 Kuraray co. Ltd
• 10.13 LCY Group
• 10.14 LG Chem
• 10.15 TSRC Corporation
• 10.16 Versalis S.p.A.
• 10.17 Zeon Corporation