The global styrenic block copolymer market size is projected to reach USD 10,010.5 million by 2028. The automotive industry has started replacing flexible plastics and thermoset rubber with TPEs. SBCs are also used in consumer electronics and everyday goods because of their robust balance between mechanical efficiency, durability, and moldability. Fortune Business Insights™ published this information in a new report, titled, “Styrenic Block Copolymer (SBC) Market, 2021-2028.” The report further states that the market stood at USD 7,163.6 million in 2020. It is set to exhibit a CAGR of 4.2% during the forecast period between 2021-2028.
COVID-19 Pandemic to Obstruct Growth Owing to Lower Number of Projects
Numerous leasing firms worldwide are facing issues, such as abandonment of equipment at inoperable sites amid the COVID-19 pandemic. Travel bans and public transit restrictions have declined the execution of projects as subcontractors are not able to supply the required material. Our reports will help you gain in-depth insights of the market to regain business confidence.
Kraton Corporation Launches DX0222 for Radiation-curable Hot-melt Adhesives
In June 2020, Kraton Corporation unveiled its latest styrene block copolymer named Kraton™ DX0222. It will be used for pressure-sensitive and radiation-curable hot-melt adhesives (HMA). The product can easily be formulated just like the traditional hot-melt adhesives. It can also deliver high-performance needs, especially of adhesive formulators.
The research report contains an accurate study of several regions. It was curated by our team of highly skilled analysts after studying and observing numerous factors that determine regional growth, such as political, technological, social, economic, and environmental status of that particular region.
Drivers & Restraints-
Rising Demand from the Medical Industry Globally to Aid Growth
Implementation of favorable regulatory policies with the clearance for the use of styrenic block copolymers and reduced dependence of PVC by the FDA and U.S. Pharmacopoeia is one of the major factors contributing to the styrenic block copolymer market growth. Besides, healthcare systems have started developing novel strategies to create phthalate-free products. In these products, SBCs are used as substitutes for PVC. As plastics reduces processing costs and surges longevity, it is adopted more in the medical industry. However, the cost of the finished product is very high because of the extraction of raw materials, such as propylene, ethylene, and benzene from crude oil. It may hinder growth.