Styrenic Block Copolymers (SBCs) Market Size

Styrenic Block Copolymers Market Analysis

The styrenic block copolymers (SBCs) market size was estimated at over 2.3 million metric ton in 2020, and the market is projected to register a CAGR of below 4% during the forecast period (2021-2026).

The market was negatively impacted by COVID-19 in 2020. Considering the pandemic scenario, the building and construction activities were stopped temporarily during the lockdown in order to curb the spread of the new COVID-19 cases. For instance, according to Eurostat, the construction industry declined by 28.4% in the EU-19 countries and by 24% in the European Union (EU-27) countries, thereby witnessing a reduction in demand for styrene-butadiene-styrene (SBS) in roofing felt and shingle applications and SBC-based adhesives and sealants in different construction activities. However, the demand for SBC-based medical bags, containers, tubings, medical beds, and others had been increased during the pandemic situation, thereby enhanced the demand for the market studied.

• Over the short term, the increasing applications of styrene block copolymers in bitumen modification, which are majorly used in road making and construction applications, are expected to drive the market's growth. Modified bitumen performs better than conventional bitumen in situations where the aggregates are prone to stripping. Due to its better creep resistance properties, it can also be used at busy intersections, bridge decks, and roundabouts for increased life of the surfacing.
• On the flipside, substitutes such as thermoplastic polyurethane and thermoplastic polyolefin elastomers are posing competition to SBCs in various applications.
• Development and introduction of new products with better properties and growth opportunities in hot-melt adhesives are likely to act as the opportunity for the market in the future.
• Asia-Pacific dominated the market studied, and the region is expected to witness the highest CAGR during the forecast period.