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Key Findings
The global SBC and its derivatives market are predicted to burgeon at a CAGR of 7.02% in terms of revenue and 5.86% in terms of volume between the forecast period of 2019 and 2027. SBC or Styrene-block-copolymers and its derivatives are defined as thermoplastic elastomers with rubber-like properties preferred mainly because of their high weatherability, biodegradability and better flexibility at low temperatures.
Market Insights
Increasing usage in the healthcare industry, growing demand from BRIC countries, growing construction industry in Asia-pacific region and replacement of PVC products by SBCs in the medical industry are some of the crucial determinants that are driving the market growth for the global SBC and its derivatives.
Increasing popularity of Olefin Block Copolymer (OBCs) by major thermoplastic manufacturers and fluctuations in the raw material prices are the major factors that are creating difficulty for the SBC and its derivatives market manufacturers to retain their competitiveness.
The Global SBC and its derivatives market are segmented by product types and by applications.
Regional Insights
Geographically, the global SBC and its derivatives market have been segmented by four major regions, namely, North America, Asia-Pacific, Europe and the Rest of the World.
The SBC and its derivatives market in the Asia Pacific region is expected to gain the largest share by 2027. Possibilities of development of infrastructural projects in the APAC region coupled with the emergence of China as a manufacturing hub are the major causes that are leading to the increased consumption of SBC in this region. The dominance of China as a manufacturing hub in footwear manufacturing is also a major factor driving the demand for SBC.
Competitive Insights
Asahi Kasei Corp., Basf AG, Denki Kagaku Kogyo Kabushiki Kaisha (Denka), Dynasol, Eastman Chemical Company, Eni Versalis SPA, Ineos Styrolution, Kraton, Kumho Petrochemicals Co. Ltd., LCY Chemical Corp., LG Chemicals, PolyOne, Sinopec, TSRC and Zeon Corp. are some of the chief companies that are contributing to the market revenue for SBC and its derivatives.