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Styrenic Block Copolymer Market Expected To Grow At A Highest CAGR Over The Forecast Timeframe

Author : Rahul Varpe | Published Date : 2019-06-26 

Global Market Insights, Inc. has added a new report on Styrenic Block Copolymer Market that provides a comprehensive review of this industry with respect to the driving forces influencing the market size. Comprising the current and future trends defining the dynamics of this industry vertical, this report also incorporates the regional landscape Industry in tandem with its competitive terrain.

Global (SBC) Styrenic Block Copolymer Market size was 1.96 million tons in 2015 as per the latest research report by Global Market Insights, Inc. Increasing medical and healthcare industry expansion owing to rise in consumer per capita income along with growing health consciousness are expected driving factors to stimulate styrenic block copolymer market growth.

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Styrenic block copolymer (SBC) market size is forecast to reach USD 10.01 billion valuation by 2023. Growing concerns pertaining to baby health coupled with increase in consumer affordability should positively influence industry growth.

Footwear applications are forecast to grow at more than 4% CAGR up to 2023. Global footwear industry expansion owing to rise in living standard accompanied by growing consumer demand for more reliable and comfort footwear are potential factors to enhance styrenic block market growth. Styrenic block copolymers are used to make shoe sole; high resilience is among the key quality to encourage its use in footwear applications.

Shift in industry focus to reduce dependency on polyvinyl chloride mainly in medical applications to avoid health hazards are potential factors to fuel styrenic block copolymer market growth. Medical tubing, syringes, and medical bags are the major products which uses SBC.

Supportive regulatory compliance from U.S. Pharmacopoeia and FDA to reduce PVC dependency and approval to use SBC are favorable factors to encourage industry growth. Political unrest in Middle East may affect pricing of crude oil & natural gas and in turn affect styrenic block copolymer market price trend.

Browse Complete Summary of this report @ https://www.gminsights.com/industry-analysis/styrenic-block-copolymer-sbc-market

Global styrenic block copolymer (SBC) market size is forecast to reach 2.84 million tons by 2023, growing at 4.8% CAGR. Rising preference for sustainable product and need to reduce dependency on PVA materials are key factors influencing industry growth.
 
Paving & roofing was the major revenue generating application and was valued at USD 1.98 billion in 2015. Increasing construction industry spending owing to rising trend for interior designing in homes and commercial spaces has majorly influenced application demand.
 
APAC, led by China & India styrenic block copolymer market size, dominated the regional industry demand and should register close to USD 4.34 billion by 2023., rapid growth in manufacturing industry owing to availability of skilled labor in China were the potential factors influenced regional demand.
 
China SBS market size may register over USD 1.9 billion by 2023 and with expected gains at 5.9% CAGR.

 North America, predominant by U.S., is projected to witness 4.5% CAGR up to 2023. Supportive government regulations to use SBC are expected factors to fuel regional demand. U.S. automotive applications may register over 40 kilo tons by 2023 with expected gains at 4.8% CAGR.

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Styrenic block copolymer market share is moderately consolidated with Dynasol LCY Chemical, Kraton, and Sinopec being the major industry players.
 
Other notable companies include BASF, Chi Mei Corp, Versalis, Zeon Corporation, Styrolution, Denki TSRC, Momentive Specialty Chemicals, Kumho Petrochemicals, Chevron Phillips, LG Chemicals, En Chuan, Asahi Kasei, JX Nippon Oil & Energy, and JSR Corporation.


 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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