According to a new market research report published by Inkwood Research, the Global SBC and its Derivatives Market is estimated to record a CAGR of 6.80% in terms of revenue and 5.45% in terms of volume during the forecasting period of 2020-2028.
"Browse 81 Market Data Tables and 70 Figures spread over 296 Pages, along with an in-depth TOC on the Global SBC and Its Derivatives Market Forecast 2020-2028.”
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SBC and its derivatives are defined as thermoplastic elastomers that
have properties like rubber. They have unique properties, such as low drug
absorption, optical clarity, toughness, process stability, biodegradability,
along with their ability to be processed as thermoplastic materials while
working as filled vulcanized elastomers. The SBC and its derivatives market are
evolving mainly due to the growing demand from the construction industry.
Further, the various properties of the SBC and its derivatives have
been increasing their usage in numerous commercial and industrial applications.
For example, various properties of the polyolefin material have driven the
adoption in various industrial applications. There is a significant rise in
demand for SBC and its derivatives product from adhesives and sealants, apart
from the construction sector.
Growing
Usage of SBC and its Derivatives Boosts the Market Growth
The distinctive features of SBC and its
derivatives are low drug absorption, biodegradability, toughness, high
resilience, process stability, and optical clarity. They are increasingly being
used in the medical sector, and are rapidly propelling the demand for flexible
PVC in numerous applications. However, owing to significant innovations and
developments in the healthcare sector, the subsequent growing requirement for
advanced biodegradable thermoplastic elastomers has increased considerably over
the years for the production of syringes, medical tubes, and medical bags. The
last decade has seen a shift to replace PVC with other materials. For using
environment-friendly materials, the demand for SBC has been on a surge from
every end-use industry. The replacement of PVC in the medical industry is
shifting its focus towards using various thermoplastic elastomers, including
SBCs.
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Paving and Roofing - The Highest Evolving
Application
Due to their unique properties such as
durability, UV resistance, weatherability, low drug consumption, toughness, and
high tensile strength, SBC products are increasingly being used in the building
and construction applications. They are mainly used in the adhesives and
sealants in the construction industry for structural and non-structural
applications. They are also used for roofing and construction of pavements.
Several agencies are striving to lengthen the service life of pavements. The Asia
Pacific is likely to emerge as the fastest-growing market for SBS in paving and
roofing applications, after the expansion of digitalization, which led to the
high volume of retail and online shopping, and in turn, fostered trucking and
freight transportation statistics.
Asia Pacific to Record Highest Growth
Rate by 2028
The Asia Pacific SBC and its derivatives market is
anticipated to be the fastest-growing region during the forecast period. The
analysis of the market growth in the region includes the study of markets
present in countries such as India, Japan, Indonesia, China, Thailand, Vietnam,
Australia & New Zealand, South Korea, and the rest of Asia Pacific. The
development of infrastructural projects in the APAC region, with China emerging
as a manufacturing center, is a primary factor leading to the increased
consumption of SBC in the region. The prevailing healthy economic conditions
are expected to boost the market.
Various renowned companies operating in the market
are BASF AG, Eastman Chemical Company,
Asahi Kasei Corporation, Versalis Spa, LG Chem Ltd, etc. The market is
partially consolidated as there are a number of products available in the
market. The major manufacturers are concentrating on hydrogenated or
specialized SBCs for new applications.
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