Medical Styrenic Block Copolymer (SBC) Market Analysis, Demand, Facts,  Forecast, Future Data, 2022–2028

Medical Styrenic Block Copolymer (SBC) Market Analysis, Demand, Facts, Forecast, Future Data, 2022–2028

Report Summary

The size of the world market for styrenic block copolymers was estimated at 7,134 (USD Million) in 2021 and is projected to increase at a CAGR of 4.5% from 2022 to 2028.

Rising demand from several applications, including footwear, adhesives and sealants, polymer modification, paving and roofing, and medical devices, is anticipated to propel the market. Worldwide increases in positive coronavirus cases have increased demand for medical supplies such tubing, bags, and IV drip chambers. This is expected to further fuel market expansion.

Applications of styrenic block copolymer in footwear are common. The need for styrenic block copolymer in footwear applications is being driven by its features, which include outstanding elasticity, gas barrier, slip resistance, flexing endurance, wear resistance, and low-temperature resistance.

The demand for styrenic block copolymer is also anticipated to increase significantly over the forecast period due to the higher coefficient of friction of styrenic block copolymer shoe soles on wet and asphalt road surfaces compared to other materials like polyvinyl chloride- and vulcanised rubber-based shoe materials.

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Market Trends for Styrenic Block Copolymers

Styrenic block copolymers (SBC) are utilised in a number of medical applications, including orthopaedic and respiratory equipment, films, comfort bedding, IV connectors, IV bags, IV drip chambers, IV bottles, and IV tubing. The need for SBCs in the medical sector is being driven by attributes including good mechanical strength, high transparency, flexibility, softness kink resistance, and superior chemical & UV resistance.

The expansion of the sports sector is also boosting demand for footwear. People are being encouraged to participate in sports and fitness activities by expanding consumer spending on footwear, increasing health consciousness, and increasing fitness awareness. In turn, this will fuel the expansion of the footwear market, raising demand for SBC.

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Product Information

In 2019, the Styrenic Block Copolymer market was led by the SBS category, which had a revenue share of about 71.0%. The increase in demand from the construction, adhesives and sealants, and polymer footwear industries is responsible for this expansion. SBS is applied to pavement and roofing in the construction industry. SBS is a component of modified bituminous roofing materials that provides a number of benefits, including as good waterproofing, resistance to thermal deterioration, flexibility over a wide temperature range, long-term performance, and improved aesthetics.

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Regional Perspectives

In 2019, Asia Pacific dominated the market and accounted for about 43.0% of total revenue. The government programmes encouraging basic utilities and the rising demand for inexpensive housing are driving the rapid expansion of the construction sector, which is fueling growth in emerging economies like India, China, and Indonesia. Furthermore, it is anticipated that strict restrictions governing carbon footprints and rising consumer awareness would encourage the creation of green buildings. This is probably going to increase demand for eco-friendly, lightweight materials like styrenic block copolymers.

Over the course of the forecast period, it is predicted that rising product demand from paving and roofing applications as well as robust infrastructure growth in Canada and Mexico will propel the market for styrenic block copolymer in North America. Market expansion is anticipated to be aided by FDA and U.S. Pharmacopoeia approval for usage of these block copolymers in the medical sector to lessen reliance on PVC.

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Key Organizations & Market Share Information

To preserve product quality and broaden their geographical reach, major market players have integrated their raw material manufacturing and distribution operations. This gives businesses a cost-benefit advantage over other businesses, boosting their profit margin.

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