The
global styrenic block copolymers (SBCs) market is
expected to reach USD 10.22 billion by 2024, according to a new report by Grand
View Research, Inc. Increasing consumption of advanced materials in building
& construction to meet structural requirements is a key factor propelling
the use of polymer modified bitumen and high-performance plastics. Structural applications
requiring lightweight and strength are composed of copolymers as reinforcing
agents as opposed to traditional metals.
Furthermore,
regulations by several governments to promote sustainable construction
practices as means to reduce building waste and energy utilization are likely
to influence SBC consumption trends. Paving & roofing application accounted
for nearly 30% of the global volume in 2015.
The
shift in trend towards developing alternative routes for production using
bio-based raw materials is expected to influence industry dynamics with
manufacturers shifting towards greener products. They are recyclable and
reusable, which has enabled the substitution of PVC’s, rubber, and other
conventional material.
U.S.
Styrenic Block Copolymers (SBCs) Market Revenue By product, 2014 - 2024 (USD
Million)
Browse full research report on Styrenic
Block Copolymer Market: http://www.grandviewresearch.com/industry-analysis/styrenic-block-copolymers-sbcs-industry
Further
Key Findings From the Study Suggest:
- The global styrenic block copolymers market
demand was over 1.95 million tons in 2015 and is expected to grow at a
CAGR of 4.7% to reach up to 3.0 million tons
- SBS was the highest consumed product with its
key applications ranging from paving & roofing to adhesives &
sealants. The product was globally valued at over USD 4.24 billion in 2015
- Footwear, polymer modification, and adhesive
applications collectively accounted for nearly 60% of the overall SBS
volume in 2015
- Increasing SBS demand in the modification of
polymers such as ABS, high impact polystyrene, EVOH, polyolefins, and bulk
molding compounds as a means to impart impact strength, durability, and
flexibility to drive penetration in future
- Asia Pacific was the dominant consumer and
accounted for over 45% of the overall volume in 2015. The region is
characterized by favorable outlook on end-use industries
- Strong growth in the manufacturing and
construction sectors are touted to drive demand for adhesives, sealants,
cable wires, and high performance plastics in the region. This trend is
expected to benefit the consumption of styrenic copolymers in Asia Pacific
- Key companies with global operations include
Asahi Kasei, Chevron Philips, LG Chem, Dynasol Elastomers, Momentive
Specialty Chemicals, Eastman, Kraton Performance Polymers, INEOS
Styrolution, and BASF SE. There is a significant presence of integrated companies
in the industry who are actively involved raw material production as well
Access
Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-styrenic-block-copolymer-sbcs-market
About
Grand View Research, Inc:
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, the company offers market intelligence
studies ensuring relevant and fact-based research across a range of industries
including technology, chemicals, materials, healthcare and energy.
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