The size of the Styrene-butadiene-styrene (SBS) Block Copolymer Market was estimated at US$ 5.2 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 7.3% from 2023 to US$ 9.9 billion by 2030.
The demand for SBS block copolymer in roofing & paving applications is anticipated to perpetually grow due to its excellent aging stability and abrasion resistance, coupled with rapidly growing demand for adhesive & sealants. Moreover, growing application of SBS in various products such as tire treads and shoe soles, owing to its high durability will additionally facilitate the market growth. However, availability of substitutes in the market and various environmental and health hazards associated with use of SBS copolymer are some of the hindering factors to the market growth over the projection period.
SBS is a thermoplastic elastomer made of two monomers of butadiene and styrene, therefore simultaneously demonstrating the properties of both rubber and plastic. It offers excellent aging stability and abrasion resistance when blended with bitumen. Owing to these properties, it is widely used in paving and roofing applications.
SBS is also used in cold adhesives along with solvents, fillers, fibers, and stabilizers. Cold adhesives are commonly used in low slope roofing, and is one of the key components of asphalt-based roof membrane systems. Growing demand for cold adhesives in roof membranes along with growing investments in construction industry globally are factors expected propel the demand for SBS in roofing applications over the forecast period.
Styrene Butadiene Styrene (SBS) Block Copolymer Market Scope
|Revenue forecast in 2030
|US$ 9.9 billion
|CAGR of 7.3 % during 2020-2030
|by Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Asahi Kasei, ARLANXEO, Bridgestone, LANXESS, MICHELIN, China Petroleum & Chemical, JSR, Rockwood Lithium, AkzoNobel, Chemtura, Reliance Industries Limited, Zeon Corporation, LG Chem, Trinseo, KUMHO PETROCHEMICAL, Goodyear Rubber Company, Versalis S.p.A.
Key segments of the global styrene butadiene styrene (SBS) block copolymer market
Type Overview, (Kilo Tons) (USD Million)
- Dry SBS block copolymer
- Oil extended SBS block copolymer
Application Overview, (Kilo Tons) (USD Million)
- Asphalt modification
- Polymer modification
- Adhesives, sealants and coatings
Regional Overview, (Kilo Tons) (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Central & South America
- Rest of Latin America
- Middle East & Africa
- Rest of MEA
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global styrene butadiene styrene (SBS) block copolymer market
- While studying the market, we observed that dry SBS block copolymer gained hefty demand in automobile tires & tire applications
- Europe is projected to be the fastest growing region as Germany serves as a major hub for automobile market
- The global styrene butadiene styrene (SBS) block copolymer market is projected to witness stable opportunity in developing regions of Asia on account of rapidly evolving economies
What does the report include?
- The study on the global styrene butadiene styrene (SBS) block copolymer market includes qualitative analysis in the form of market drivers, trends, and opportunities
- Additionally, the market has been evaluated using the value chain, Porter’s five forces analysis and PESTEL analysis
- The study covers quantitative as well as qualitative breakdown of the market segmented on the basis of type, application and region. Moreover, the study provides similar facts for the key geographical regions.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players in the market with a major global and/or regional presence
Who should buy this report?
This study is suitable for industry contributors and shareholders in the styrene butadiene styrene (SBS) block copolymer market, who want an in-depth understanding into the advancements of the styrene butadiene styrene (SBS) block copolymer market. The report will benefit:
- Directors, and managers of various end-use companies that are engaged in the tire & tire applications
- Personnel within research & innovation centers for synthetic rubber & its applications
- Aftermarket suppliers, distributors in the automobile industry
- Government organizations, and controlling authorities of healthcare & pharmaceutical industries utilizing synthetic rubbers
- Researchers, educators, analysts, and academic institutions looking for understandings into the market to determine future strategies
Frequently Asked Questions (FAQ) :
Increasing demand for styrene butadiene styrene (SBS) block copolymer in paving industry
The asphalt modification segment accounted for a volume of 603.0 kilo tons in 2018, and is projected to cross the mark of 800 kilo tons over the forecast period. Asphalt mixture is widely used as a pavement material, and its demand is anticipated to further grow over the forecast period. This is attributed to increasing government investments in infrastructure development activities in order to enhance roadway connectivity. For instance, according to the India Brand Equity Foundation (IBEF) data, as of August 2018, the Government of India has approved highway projects worth USD 29.8 million, thus aiming to improve connectivity among various major states, including Madhya Pradesh, Maharashtra, Gujarat, and Rajasthan.
Increasing focus on use of SBS block copolymer in order to improve the performance of asphalt roadways, as well as to create more sustainable & eco-friendly asphalt paving process are other factors expected to drive growth of this segment. In addition, increasing use for SBS in waterproofing membrane owing to its flexibility, excellent adhesions, and temperature resistance properties, coupled with growing number of industrial and civil building roof engineering projects are driving factors for segment growth. Also, due to its proven efficiency SBS helps to reduce the high cost of maintenance and repair.
Consumer demand for soft-touch and ergonomic design goods and equipment has led to producers include thermoplastic elastomers in final products. Top players engaged in the manufacturing of SBS copolymer include Asahi Kasei Corp, LG Chem, LCY Chemical Corp., Kraton Corp., Dynasol Elastomers, Chi Mei Corp., Versalis S.p.A., Firestone Polymers LLC, TSRC, Sinopec Corp.
In terms of application, the global styrene butadiene styrene (SBS) block copolymer market is segmented into asphalt modification, polymer modification, adhesives, sealants and coatings, and others. SBS block copolymer is a thermoplastic elastomer, which offers abrasion resistance and aging stability when blended with bitumen. Owing to these factors, SBS is widely used in road pavement and waterproof sheets, thereby creating strong demand for SBS block copolymer in the near future.
Asphalt modification application held the largest market share in 2018 followed by adhesives, sealants, & coatings and polymer modification. In terms of industry growth, adhesives, sealants, & coatings segment is likely to offer favorable scope over the years ahead. This segment is likely to hold a share of nearly 33% of the total SBS block copolymer market by the end of 2025.
SBS is used in solvent borne adhesives and sealants owing to the various factors, which include direct solubility, shorter solution time; therefore help achieve efficiency and productivity. In addition, the solution viscosity is lower, hence provides lower solvent cost and also deliver longer shelf life. These factors in turn create strong demand for SBS block copolymer in adhesives and sealants for building & construction application.
SBS remains flexible and resistant to moisture and hence it is widely used as a raw material in footwear manufacturing, particularly for sports shoes and casual shoes. Growing demand for footwear that provides abrasion-resistance along with increasing spending on footwear, owing to the changing lifestyle are factors supporting growth of the segment. Moreover, growing number of sports events, and growing demand for appropriate footwear providing good grip and performance, along with increasing availability of the product through online platforms are major factors contributing for the growth of the others segment.
The consumption of SBS block copolymer has increased across the globe, with asphalt modification being a key consumption area, facilitating the growth of SBS copolymer market across all the five regions, followed by adhesives, sealants and coatings. SBS copolymer is a key component of the styrene block copolymers industry, the demand for SBS block copolymer is further projected to grow over the forecast period.
North America, Europe, and Asia Pacific accounted for a significant market revenue share in the global styrene butadiene styrene (SBS) block copolymer market. Asia Pacific accounted for the largest revenue share and is projected to show a similar trend until 2025, followed by North America. Europe is projected to witness the fastest growth in the global styrene butadiene styrene (SBS) block copolymer market, followed by North America. Growing consumption of SBS block copolymer for asphalt in paving & roofing application, coupled with increasing public and private investment for infrastructure development are factors expected to propel the demand for SBS copolymer in North America.
According to recent data for April 2019, the U.S. democrats would seek to invest up to USD 2 trillion to rebuild the U.S. infrastructure, which includes roads, schools, and bridges. Moreover, growing construction of new buildings in the region will facilitate increasing demand for SBS copolymer, as it offers compatibility with all types of flat roofing applications. The U.S. accounted for a majority revenue share of about more than 50% in the year 2018 and is projected to show similar trend over the forecast period.