Global styrenic block copolymer market expected to reach $9.48 billion by 2033, driven by multiple industries.

From GlobeNewswire: 2024-07-09 02:00:00

The Global Styrenic Block Copolymer Market is expected to grow from USD 5.68 billion in 2023 to USD 9.48 billion by 2033, with a CAGR of 5.26%. Styrene block copolymers are widely used in thermoplastic elastomers, particularly in the construction sector, for products like adhesives, sealants, coatings, and insulation. The growth of the industry is driven by demand from various sectors such as construction, adhesives & sealants, and polymer footwear.

The styrene-butadiene-styrene (SBS) segment is expected to dominate the market, fueled by demand from the construction, adhesives & sealants, and polymer footwear industries. The paving & roofing segment is anticipated to hold the greatest share of the global styrenic block copolymer market during the projected timeframe, driven by the rise of the worldwide construction sector.

North America is expected to hold the largest share of the global styrenic block copolymer market, with styrenic block copolymers being increasingly used in food packaging. Asia Pacific is predicted to grow at the fastest pace in the market, driven by demand for affordable housing and growth in the construction sector. Major vendors in the market include LCY Group, KRATON CORPORATION, ZEON CORPORATION, and others.

In January 2024, Kraton Corporation announced a USD 35 million investment to update its crude tall oil biorefinery towers. The market is segmented by product (SBS, SIS, SIBS, HSBC), application (paving & roofing, footwear, advanced materials, adhesives, sealants & coatings, others), and region (North America, Europe, Asia-Pacific, South America, Middle East & Africa). Spherical Insights & Consulting provides forward-looking market research and consulting services.



Read more at GlobeNewswire: Global Styrenic Block Copolymer Market Size To Worth USD