The global SBS and its derivative market, is estimated to grow and reach a CAGR of 5.45% in terms of volume during the forecast period of 2020-2028

NEW YORK, March 17, 2020 /PRNewswire/ --

KEY FINDINGS
The global SBS and its derivative market, is estimated to grow and reach a CAGR of 5.45% in terms of volume during the forecast period of 2020-2028. With regards to revenue, the global market is set to record a CAGR of 6.80%. The global market has been growing continuously, due to the increasing usage in the adhesives, sealants & coatings industry, paving & roofing, footwear, and advanced materials. Besides, the development of new and innovative products is creating significant opportunities in the market.

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MARKET INSIGHTS
During the production processes of adhesives, sealants & coatings industry, SBCs and its derivatives are used in the reduction of solution viscosity in the elastomeric phase.Styrene-ethylene-butadiene-styrene (SEBS) is primarily used in healthcare applications, such as tubing for peristaltic pumps, coupled with its usage in vaccines and pharmaceutical manufacturing.

Due to the distinctive features of SBS and its derivatives such as biodegradability, high resilience, optical clarity, low drug absorption, toughness, and process stability, they are increasingly used in the medical sector, and fueling the demand for flexible PVC in numerous applications.
One of the market constraints is the increasing popularity of OBCs.The development and introduction of Olefin Block Copolymer (OBCs) by major thermoplastic manufacturers, is making it difficult for the SBC and its derivatives manufacturers to retain their market share and competitiveness.

The market for SBCs is partially consolidated as there are several products available in the market, increasing the competition.

REGIONAL INSIGHTS
The global SBC and its derivatives market is analyzed geographically based on the markets situated across the regions of North America, Europe, Asia Pacific, and the Rest of the World.As of 2019, Asia Pacific holds the largest market share in terms of revenue.

The enhancement of infrastructural projects in the APAC region, along with the emergence of China as a manufacturing hub, is the crucial factor propelling the demand for SBC in the market.

COMPETITIVE INSIGHTS
Asahi Kasei Corporation, INEOS Group Holdings SA, Dynasol Group, BASF AG, Eni Versalis Spa, etc. are some of the prominent companies operating in the market across the globe.

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Companies mentioned
1. ASAHI KASEI CORP
2. BASF AG
3. DENKA CO LTD
4. DYNASOL GROUP
5. EASTMAN CHEMICAL COMPANY
6. ENI VERSALIS SPA
7. INEOS GROUP HOLDINGS SA
8. KUMHO PETROCHEMICALS CO LTD
9. KRATON
10. LCY GROUP
11. LG CHEMICAL LTD
12. POLYONE CORPORATION
13. SINOPEC (CHINA PETROCHEMICAL GROUP CO LTD)
14. TSRC CORPORATION
15. ZEON CORP

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