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Styrenic Block Copolymer Market
SHERIDAN, WY, UNITED STATES, July 27, 2022 /EINPresswire.com / -- According to the latest report by IMARC Group, titled“Styrenic Block Copolymer Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global styrenic block copolymer market size reached US$ 7.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 10.4 Billion by 2027, exhibiting a growth rate (CAGR) of 5.5% during 2022-2027. Styrenic block copolymers belong to a versatile family of resins for adhesive and sealant development. Its properties include crystal clarity, design versatility, high resistance, excellent thermal stability, sterilizability by gamma irradiation, ethylene oxide gas, and mutagenic or irritant potential. It is used in various applications across the medical sector, such as medical stoppers, IV bags, IV tubing, IV bottles, IV drip chambers, IV connectors, comfort bedding, films, and orthopedics and respiratory equipment.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Styrenic Block Copolymer Market Trends:
The global market is primarily driven by strict government regulations to decrease the use of PVC. In line with this, the widespread application in bitumen modification and the increasing resistance and thermal stability of SBC are positively influencing the market growth. Furthermore, the rising environmental concerns, coupled with the low cost of SBC replacing the application of rubber, PVC, and other thermoplastics in numerous industrial applications, are acting as other growth-inducing factors. Moreover, the growing demand for various applications, such as adhesives and sealants, footwear, paving and roofing, polymer modification, and medical devices, is catalyzing the market. Additionally, the accelerating demand for road and highway maintenance and the increasing infrastructure around the globe is likely to provide ample growth opportunities for the asphalt paving industry, thus significantly contributing to the market.
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Global Styrenic Block Copolymer Market 2022-2027 Analysis and Segmentation:
Competitive Landscape with Key Players:
•Asahi Kasei Corporation
•Chi Mei Corporation
•China Petroleum and Chemical Corporation
•Denka Company Limited
•En Chuan Chemical Industries Co.
•INEOS Styrolution Group GmbH
•Kumho Petrochemical Co. Ltd.
•Lee Chang Yung Chemical Industry Corp.
Breakup by Type:
•Hydrogenated SBC (HSBC)
Breakup by Application:
•Adhesives and Sealants
•Wires and Cables
Breakup by Region:
•North America (United States, Canada)
•Europe (Germany, France, United Kingdom, Italy, Spain, Others)
•Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
•Latin America (Brazil, Mexico, Others)
•Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
•Market Performance (2016-2021)
•Market Outlook (2022-2027)
•Porter's Five Forces Analysis
•Market Drivers and Success Factors
•Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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