Global Styrenic Block Copolymer (SBC) Market 2017-2021
About Styrenic Block Copolymer (SBC)
Styrenic block copolymer is also known as SBC. They belong to the group of thermoplastic elastomers (TPE). TPE have rubber like properties and are processed as thermoplastics. SBC is used as an additive in various applications such as footwear, roofing, and adhesives. SBCs are categorized as per their ability to be processed as thermoplastic materials. They showcase good elastic qualities and good flexibility at lower temperatures. However, they are mostly used at a higher temperature, because of their low softening points.
Technavio’s analysts forecast the global Styrenic Block Copolymer (SBC) market to grow at a CAGR of 5.14% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global Styrenic Block Copolymer (SBC) market for 2017-2021. To calculate the market size, the report considers the sales of the volume is considered for product types global SBC market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Styrenic Block Copolymer (SBC) Market 2017-2021
Technavio recognizes the following companies as the key players in the global Styrenic Block Copolymer (SBC) market: China Petrochemical Corporation, Dynasol, LCY Group, PolyOne, and TSRC
Other Prominent Vendors in the market are: ZEON CHEMICALS, LG Chemicals, Chevron Phillips, En Chuan Chemicals, JSR Corporation, Eastman Chemical, and Kumho petrochemicals.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Emergence of bio-based alternatives of synthetic SBCs. The rise in the raw material prices, high competition, and technology advances are adding to the adoption of the bio-based alternative of synthetic SBC's. Synthetic SBC's can be replaced by using soybean based SBCs in various applications such as personal care and coating application. Soybean-based SBCs are cost effective as well.”
According to the report, one of the major drivers for this market is Growing infrastructure industry in China. The rapid development of rail and road infrastructure by the government to sustain the fast-growing industrial sectors has resulted in significant growth of the construction industry in China in the recent years. As the construction industry in China is dominated by state-owned enterprises, the investment by the government has propelled the country to the forefront in the global scenario. In addition, the entry of major players in the construction industry from the European Union (EU), in the remunerative Chinese market in recent years has further fostered the growth in the Chinese construction industry.
Further, the report states that one of the major factors hindering the growth of this market is Volatility in raw materials prices. Constant fluctuations in the prices of raw materials used in the manufacture of SBC pose a challenge to SBC manufacturers. Styrene, isoprene, and butadiene are the raw materials used to produce SBC. They are manufactured from ethyl benzene and naphtha. The price of both petrochemicals depends on the price of crude oil. Because of the volatile political situation in Iraq, the second largest producer of crude oil in Organization of the Petroleum Exporting Countries (OPEC), there have been increased fluctuations in the price of crude oil in the international market. This has resulted in a significant increase in the prices of styrene, isoprene, and butadiene. As the prices of SBC cannot keep up with the fluctuating prices of their raw materials, there is a rift between production costs and sales values among SBC manufacturers.
China Petrochemical Corporation, Dynasol, LCY Group, PolyOne, and TSRC, ZEON CHEMICALS, LG Chemicals, Chevron Phillips, En Chuan Chemicals, JSR Corporation, Eastman Chemical, and Kumho petrochemicals.
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