SBC Market

SBC Market Synopsis

SBC Market Size Was Valued at USD 9.62 Billion in 2023, and is Projected to Reach USD 23.82 Billion by 2032, Growing at a CAGR of 10.60 % From 2024-2032.

Styrenic Block Copolymers or SBCs are a type of TPEs characterized by high flexibility and strength together with the capacity to perform the characteristics of both rubber and plastics. These materials are employed in a broad range of industries inclusive of shoe manufacturing industries, adhesive industries, sealant industries and the medical industries because of their high-performance characteristics, high chemical resistance and applicability in both the hard phase and the soft phase. 

In existing literature, the SBC industry is illustrated to hold a stable and healthy growth trend globally and in several countries which is attributed to the increasing demand from application sectors such as construction, healthcare, and automotive industries. The Asia-Pacific region consumes the highest shares in the market, backed up by increased industrialization and infrastructural growth. The main product portfolio includes SBS, SIS, and copolymers of styrene, hydrogenated, including HSBC, where SBS and HSBC account for nearly 80% of the output, since the material has excellent performance in the adhesive and bitumen modifiers range.

However, the other reasons prevailing market is stimulated with the environmental issues and regulations especially in the North America and Europe. However, there are several challenges affected these properties and applications, and the recent development of bio-based SBCs of high interest, as well as the wide use of SBCs in medical application offer good prospects for development. Saturday, many businesses are investing greatly in research and development to satisfy various customers’ demands and the need to establish more competitiveness.

SBC Market Outlook, 2023 and 2032: Future Outlook

SBC Market Trend Analysis

Bio-Based Revolution, The Future of SBCs

Interestingly, one of the most worrisome trends currently emerging in the SBC market relates to bio-based SBCs. As the awareness level regarding the environment rises more and more industries are looking for sustainable and environmentally friendly solutions. The bio-based SBCs that provide similar property profile like the conventional SBCs are starting to grow in demand more significantly in Europe and North America.

Moreover, the medical device sector has become more promising for SBCs because of their biocompatibility and flexibility. There is increased application of products such as HSBC in medical tubing, IV bags and other health care applications to boost demand in this segment.

Rising Infrastructure Demands Propel SBC Growth

The SBC market is driven by the rising need from sectors such as construction and automotive. The primary applications of SBCs are in construction, where they are employed for asphalt modification to enhance road life and in automotive industry where they are needed for making light weight and robust body parts for enhanced fuel efficiency.

Another consideration is the fast pace of Industrialisation especially in the Asia-Pacific region of the global village. The increase in construction activities ranging from building construction and infrastructure development has increased the use of high-performance material like SBCs in its uses, notably in field of adhesives/sealants.

Sustainability Challenges, A Barrier for SBCs

Another more significant limitation is the environmental issues of SBCs production and the disposal of the same. For environmentally sensitive industries, issues of resource dependency particularly the use of fossil fuel to manufacture these products and challenges involved in recycling some of these materials arises.

Also, key raw material usage restrictions in North America and Europe have raised the costs of compliance in the manufacturing of SBCs. They may therefore affect the growth path in these areas.

Green SBCs, The Next Frontier in Sustainability

The emergence of green and recyclable SBCs from bio-sources offers the most attractive future growth opportunity for manufacturers. Such enhancements are likely to solve existing environmental issues, and tap into new markets within developed nations, in sync with sustainable development policies.

In addition, the growth of one of the sectors as a healthcare sector, especially in developing countries, is viewed as potential opportunities to apply for SBC in medical devices. The inadequate availability of materials with an appropriate balance of performance and biocompatibility in the medical industry is expected to pave good business opportunities.

SBC Market Segment Analysis

SBC Market Segmented on the basis of By Product Type, By Application and By End-Use Industry.

By Type

o   Styrene-Butadiene-Styrene (SBS)

o   Styrene-Isoprene-Styrene (SIS)

o   Hydrogenated Styrenic Block Copolymers (HSBC)

By Application

o   Footwear

o   Adhesives & Sealants

o   Asphalt Modification

o   Polymer Modification

o   Medical Devices

o   Others

By End Use Industry

o   Construction

o   Automotive

o   Healthcare

o   Packaging

o   Electronics

o   Others

By Region

o   North America (U.S., Canada, Mexico)

o   Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)

o   Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)

o   Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)

o   Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)

o   South America (Brazil, Argentina, Rest of SA)

By Product Type, Styrene-Butadiene-Styrene (SBS) segment is expected to dominate the market during the forecast period

Specifically, the SBC market is divided in to SBS, SIS, and HSBC or hydrogenated Styrenic block copolymers. SBS occupies the biggest share of the global production because of its application in the majority of asphalt modification and adhesives. SIS is mainly employed in pressure-sensitive adhesives, while HSBC is sort after in the higher-end applications such as in the manufacture of medical devices since it has higher heat and UV stability.

By Application, Footwear segment expected to held the largest share

Some of the applications of SBC market are footwear, adhesives & sealants, asphalt modification, polymer modification, medical devices and other applications. Shoes and footwear is still a leading segment owing to the admirable properties of the material including high resistance and elasticity. Construction and packaging industries are the major applications for adhesives and sealants. Another important application of asphalt is modification, which helps to increase road’s working life and productivity.

SBC Market Regional Insights

Asia Pacific is Expected to Dominate the Market Over the Forecast period

Thus Asia-Pacific region alone holds approximately 45% of the total SBC market worldwide. This dominance is attributed to the regions fast industrialization, urbanization and infrastructure development especially if the region’s giants such as China, India and Japan. Non-ethylene SBCs that find primaries uses in footwear, adhesives, and construction also explain why the region is leading in the market.

Furthermore, Asia-Pacific is favorable for SBC production the manufacturing cost of SBC is comparatively low due to availability of abundance raw materials. The region also gains from rise in government expenditure in infrastructural development and spending on health enhancing SBC consumption.

SBC Market Share, by Geography, 2023 (%)

Active Key Players in the SBC Market

o   Asahi Kasei Corporation (Japan)

o   BASF SE (Germany)

o   Chevron Phillips Chemical Company (USA)

o   JSR Corporation (Japan)

o   Kraton Corporation (USA)

o   Kumho Petrochemical (South Korea)

o   LG Chem (South Korea)

o   Sinopec (China)

o   TSRC Corporation (Taiwan)

o   Versalis S.p.A. (Italy)

o   Other key Players

Global SBC Market Scope