According to the recent research report titled ‘Global Styrenic Block Copolymer (SBC) Market Size study with COVID Impact, by Type (Styrene-Butadiene-Styrene (SBS), Hydrogenated SBC (HSBC)) by Application (Asphalt Modification (Paving and Roofing), Polymer Modification, Adhesives and Sealants and others) and Regional Forecasts 2020-2027’, available with Market Study Report, global styrenic block copolymer (SBC) market is anticipated to register substantial growth during 2020-2027.
 

Increasing environmental concerns along with inexpensive nature of replacing rubber, PVC and other thermoplastics in several industrial applications are primarily driving the growth of global styrenic block copolymer market.
 

Notably, styrenic block copolymers are thermoplastic elastomers designed to enhance performance of various applications and end-use products. These copolymers are used in a wide range of applications due to its beneficial features such as high resistance, crystal clarity, high thermal stability, high resilience, design versality, and others. They are also used in production of leg elastics, waistbands, ear/side panels, and in landing area of baby diapers.
 

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As per Statista, annual average price of the natural rubber at Singapore Commodity Exchange reached 4.82/kg in the year 2011.
 

On the contrary, SBS elastomers are not appropriate for use under ozone and UV conditions, which may act as a restraining factor for the industry expansion.
 

Based on type, global styrenic block copolymer market is divided into hydrogenated SBC and styrene-butadiene-styrene. Speaking of application spectrum, the industry is bifurcated into adhesives & sealants, polymer modification, asphalt modification (paving & roofing), and others.
 

From a regional perspective, worldwide styrenic block copolymer market is segmented into Latin America, North America, Asia-Pacific, Europe, and Rest of the world. The report states that North America is projected to hold major revenue share of global styrenic block copolymer industry by the end of the forecast period. The regional growth is credited to favorable approvals from FDA regarding the usage of SBC while manufacturing medical equipment.
 

Meanwhile, Latin America and Asia Pacific styrenic block copolymer market have witnessed robust growth with respect to use of baby diapers. Usage of SBC in footwear is positively impacting the regional growth.
 

Major contenders in global styrenic block copolymer (SBC) market are Sinopec Group, Kraton Performance Polymers, Eastman Chemical Company, Kumho Petrochemical Co., Ltd., JSR Corporation, Ineos Styrolution, Versalis S.p.A., Zeon Corp., BASF SE, and TSRC Corporation.