Global Styrene Isoprene Butadiene (SIBS) Market - Segmented by Form, Product Type, End-User Industry, and Geography - Growth, Trends and Forecasts (2018 - 2023)
Styrene isoprene butylene styrene (SIBS) is a biostable thermoplastic elastomer, with physical properties that overlap silicone rubber and polyurethane. SIBS polymer contains block segments of styrene monomers and rubber monomer units similar to other styrene block copolymers (SBC). However, SIBS also contains unsaturated elastomers or rubber units having isoprene and butadiene. SIBS in general, is a single formulation combining the properties of SBC’s - Styrene Isoprene Styrene (SIS) and Styrene Butadiene Styrene (SBS). Polymer has been replacing the use of metals in medical devices and other sectors, which is anticipated to drive the demand for the SIBS market in the coming years. Additionally, the increasing demand for adhesive and sealants is also likely to have positive influence on the SIBS market, owing to its application in pressure-sensitive adhesives.
Increasing Demand for Adhesives and Sealants
SIBS is among the most preferred polymers for producing adhesives. It provides excellent balance of tack, peel, and shear adhesion to the adhesives labels. SIBS helps to improve the performance of pressure-sensitive adhesives (PSA) Label Adhesive. It is widely used in the production of PSA, which are developed for label applications, as it exhibits proper adhesion, better clarity, lower gels in hot-melt adhesives, and improved low-temperature performance.
The demand for pressure-sensitive adhesive tapes and labels has been increasing, owing to its increasing industrial applications. The demand for tapes in the automobile industry has been increasing in order to enhance the performance and aesthetics. Moreover, the growth in construction activities, primarily in the Asia-Pacific region is likely to drive the demand for PSA tapes and labels. Additionally, continuous growth in the demand for PSA tapes and labels from the packaging industry is likely to boost the demand for adhesives and sealants. This is further likely to provide a positive influence in the demand for the SIBS market.
Packaging Industry Witnessing Strong Growth
SIBS are used widely to make economically attractive packaging tapes and labels. E-commerce and E-retail have boosted the growth of the packaging industry. Packaging requirements have increased noticeably for dispatching the products from one place to another. With the growing e-retail business across the world and increasing demand for packaging, the SIBS market is likely to witness growth in its demand from the packaging industry in over the forecast period.
Asia-Pacific expected to Lead the Market
Asia-Pacific is likely to witness fastest growth during the forecast period owing to the increasing construction activities, rising demand for packaging, and growth in electrical & electronics industry. China & India is likely to witness fastest growth in the region. North America & Europe is likely to witness stable growth, considering the matured healthcare industry. The growth in these regions are expected to be driven by shift from heavy metals to light polymers in medical devices, tools and other medical instruments. In the United States, manufacturing sector is likely to witness rebound which is expected to increase the demand for SIBS based products, such as adhesives, tapes, labels, machines and others.
Key Developments in the market
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