The global styrene-butadiene-styrene (SBS) block copolymer market research report by Technavio predicts the market to post a CAGR of around 5% during the period 2019-2023.
A key driver for the global styrene-butadiene-styrene block copolymer market is the growing consumption of SBS block copolymers in adhesive and sealant applications. SBS block copolymer-based adhesive and sealants reduce the overall cost of the entire manufacturing process. They demonstrate superior product performance, are reliable and increase the lifespan of the product. Hence, they are used in automotive and transportation, furniture and woodwork, building and construction, electrical and electronics, footwear, and packaging industries.
This global styrene-butadiene-styrene block copolymer market research report also provides an analysis of the most important trends expected to impact the market outlook during the period 2019-2023. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the growing investment in R&D as one of the key trends in the global styrene-butadiene-styrene block copolymer market:
Global styrene-butadiene-styrene block copolymer market: Growing investment in R&D
The growing competition in the global SBS block copolymer market in recent years has compelled manufacturers to add value to their product offerings through increased investments in R&D. This has helped in increasing the vendors’ focus on R&D and technological developments to offer new and innovative polymer products that are more functional, cost-effective, and sustainable.
The price sensitivity of end-users has led to manufacturers expanding their product portfolio and developing cheaper bio-based SBS block copolymers. For instance, the manufacturers have developed soybean-based SBS polymers that are capable of replacing synthetic SBS polymers in several applications such as bitumen modification applications and coating applications, without major changes in their specifications, says a senior research analyst at Technavio.
Global styrene-butadiene-styrene block copolymer market: Segmentation analysis
This styrene-butadiene-styrene block copolymer market analysis report segments the market by application (polymer and asphalt modification, adhesive, sealant, and coating, and others) and geography (the Americas, APAC, and EMEA).
The polymer and asphalt modification segment held the largest styrene-butadiene-styrene block copolymer market share in 2018, accounting for more than 44% of the market. This application segment is expected to dominate the global market throughout the forecast period.
The APAC region led the market in 2018 with nearly 49% of the market share, followed by the Americas and EMEA respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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