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Styrenic Block Copolymer Market Strategy, Value, Stock, Price, Size, Outlook, Report, Global and Forecast by 2028

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companies covered are Versalis S.p.A. (San Donato Milanese, Italy), KRATON CORPORATION (Texas, U.S.), Eastman Chemical Company (Tennessee, U.S.), TSRC (Taiwan, China), Cray Valley (Pennsylvania, U.S.), RTP Company (RTP Company, U.S.), Avient (Ohio, U.S.), HEXPOL AB (Malmö, Sweden), Asahi

The global styrenic block copolymer (SBC) market is set to gain traction from the rapid expansion of the automotive industry. The Economist Intelligence Unit Limited mentioned that the sales ofelectric cars will reach 3.4m in 2021 from 2.5m in 2020. Besides, the sales of commercial vehicles will rise by 16% in 2021, while the sales of new cars will grow by 15%. This information is given by Fortune Business Insights™ in a new report, titled, “Styrenic Block Copolymer Market, 2021-2028.” As per the report, the market size was USD 7,163.6 million in 2020. It is projected to reach USD 10,010.5 million by 2028, exhibiting a CAGR of 4.2% during the forecast period.

Segmentation-

Paving Roofing Segment to Hold Maximum Share Backed by Expansion of Construction Industry

Based on the product, the market is segregated into styrene-butadiene-styrene (SBS), styrene-isoprene-styrene (SIS), styrene-isoprene butadiene block copolymer (SIBS), and hydrogenated styrenic block copolymers (HSBC). By application, it is fragmented into paving roofing, footwear, advanced materials, adhesives, sealants coatings, and others. Amongst these, the paving roofing segment is set to remain in the forefront because of the expansion of the construction industry.

Report Coverage-

The research report of the SBC industry offers a comprehensive analysis of existing companies that can affect the market outlook throughout the forthcoming years. In addition to that, it provides an accurate assessment by highlighting data on multiple aspects that may contain growth drivers, opportunities, trends, and hindrances. It also represents the overall market size from a global perspective by analyzing historical data and qualitative insights.

 

Drivers Restraints-

Increasing Development of Paved Road Networks to Boost Growth

The rising infrastructure, as well as the high demand for road highway maintenance worldwide is set to be the major factor responsible for driving the styrenic block copolymer market growth in the near future. At the same time, the ongoing development of roads and surging traffic in rural and urban areas is anticipated to propel the asphalt paving industry. Developing countries, such as Brazil, India, and China are spending hefty amounts in enhancing theirpaved road networks. In India, for instance, the government launched schemes, such as Bharatmala Pariyojana and Pradhan Mantri Gram Sadak Yojana (PMGSY). Such projects are set to spur the demand for SBCs. However, the volatility in the prices of oil may hamper growth.

A list of renowned styrenic block copolymer companies operating in the global market:

  • Versalis S.p.A. (San Donato Milanese, Italy)
  • KRATON CORPORATION (Texas, U.S.)
  • Eastman Chemical Company (Tennessee, U.S.)
  • TSRC (Taiwan, China)
  • Cray Valley (Pennsylvania, U.S.)
  • RTP Company (RTP Company, U.S.)
  • Avient (Ohio, U.S.)
  • HEXPOL AB (Malmö, Sweden)

Information Source:

https://www.fortunebusinessinsights.com/styrenic-block-copolymer-sbc-market-105131

 

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