Worldwide Styrenic Block Copolymers Industry to 2026 - Increasing Application in Bitumen Modification Is Driving Growth - ResearchAndMarkets.com

The "Styrenic Block Copolymers (SBCs) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The Global Styrenic Block Copolymers (SBCs) market size was estimated at over 2.3 million tons in 2020 and the market is projected to register a CAGR of below 4% during the forecast period (2021-2026).

Companies Mentioned

• Asahi Kasei Corporation
• Avient Corporation
• China Petrochemical Corporation (SINOPEC)
• Grupo Dynasol
• INEOS
• JSR Corporation
• KRATON CORPORATION
• KURARAY CO., LTD.
• LCY GROUP
• LG Chem
• TSRC
• ZEON CORPORATION

Key Market Trends

Styrene-butadiene-styrene (SBS) Segment to Dominate the Market

• SBS accounts for the largest share, in terms of production and demand, among the different types of styrene block copolymers. It is basically a thermoplastic elastomer consisting of styrene and butadiene monomers.
• SBS holds the advantages of properties achieved from both polystyrene and butadiene. The polybutadiene chains in the structure allow the material to be stretched and get back to its normal state. On the other hand, the polystyrene composition in the structure gives it the required durability. SBS elastomers are not suitable for continuous usage in the ultraviolet (UV) and ozone conditions.
• These properties make SBS ideal for usage in applications, such as road pavement, plastic modification, adhesives, and footwear.
• Asphalt modification applications involve the addition of small amounts of SBS, approximately 2-6% by weight to asphalt used in road paving and around 11% by weight in roofing felts and shingles, to enhance the properties of the end product. The increased cost of installing SBS-enhanced asphalt is offset by future maintenance savings and the benefit of less disruption, due to the increased durability.
• In 2019, the new highway and street construction put in place was valued at about USD 97.56 billion in the United States and is estimated to reach about USD 107.74 billion by 2024, registering a CAGR of about 2%, thereby is expected to enhance the demand for SBS from the highway and street construction sector.
• Furthermore, the expenditure of airport runway construction in the United States was valued at about USD 4.7 billion in 2019 and reached about USD 5.7 billion in 2020, with a growth rate of about 21%, thus enhanced the demand for the market studied.

China to Dominate the Asia-Pacific Market

• In the Asia-Pacific region, China is the largest economy in terms of GDP. The country witnessed about 6.1% growth in its GDP during 2019, even after the trade disturbance caused due to its trade war with the United States. The economic growth rate of China in 2020 was initially expected to be moderate as compared to the previous year. However, due to the onset of COVID-19 in 2020, the economic growth of China is estimated to contract to 1.90% and is expected to witness recovery at a rate of 8.20% in 2021.
• The construction industry grew at a strong pace in 2019, even though the growth slowed down during the year, compared to 2018. The construction sector has supported the economic growth in the country, while the US-China trade war affected the performance in other industries, such as automotive.
• China's 13th Five Year Plan started in 2016 (2016-2021), and it was an important year for the country's engineering, procurement, and construction (EPC) industries. In addition, the country ventured into new business models domestically and internationally, during the year. Although the construction sector slowed down after 2013, it is still a major contributor to the GDP of the country.
• According to the National Bureau of Statistics of China, the revenue generated by the Chinese construction industry has increased from CNY 17.67 trillion in 2014 to CNY 24.84 trillion in 2019. The Chinese construction industry was valued at about USD 1,049.2 billion in 2020 and is estimated to reach about USD 1,117.4 billion by 2021, with a growth rate of about 6.5%.
• Furthermore, China has planned to invest about USD 21.43 billion for the construction of 30 new expressway links with a total length of 2,109 km in Guangxi Province, which will be completed by the end of 2021, thereby is expected to enhance the demand for the market studied.
• Owing to the huge footwear manufacturing industry, China accounts for over 45% of the total SBS produced, around the world. India and Thailand are other key footwear markets in the region, where the demand for SBC is expected to witness positive growth.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Drivers

4.1.1 Increasing Application in Bitumen Modification

4.1.2 Other Drivers

4.2 Restraints

4.2.1 Unfavorable Conditions Arising Due to COVID-19 Outbreak

4.2.2 Other Restraints

4.3 Industry Value-Chain Analysis

4.4 Porter's Five Forces Analysis

4.5 Price Analysis

4.6 Technological Snapshot

4.7 Feedstock Analysis

5 MARKET SEGMENTATION

5.1 Type

5.2 Application

5.3 Geography

6 COMPETITIVE LANDSCAPE

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

6.2 Market Share (%)/Ranking Analysis

6.3 Strategies Adopted by Leading Players

6.4 Company Profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

7.1 Introduction of New Products with Better Properties

7.2 Growth Opportunities in Hot-melt Adhesives

7.3 Other Opportunities

For more information about this report visit https://www.researchandmarkets.com/r/wvdluy

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