Styrenic Block Copolymers Demand to Grow Nearly 4% Annually Through 2022

Worldwide styrenic block copolymers (SBC) demand is expected to expand at a 3.9% annual pace through 2022 to 2.4 million metric tons, valued at $8.9 billion, a rate consistent with the growth of the 2012-2017 period. The Asia/Pacific region will remain the leading consumer of SBCs, continuing to account for about 60% of demand. Advances in the large Chinese footwear market will continue to decelerate, with growth transferred to smaller but fast-advancing footwear industries in India, Indonesia, Vietnam, and other Southeast Asian countries. These and other trends are presented in Global Thermoplastic Elastomers Market, 10th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.

The footwear market overall continues to mature, restraining thermoplastic elastomer (TPE) sales opportunities to a certain extent. Nevertheless, the Asia/Pacific region remains the foremost global supplier of home appliances and other consumer products, which are both fast expanding markets for SBCs in soft touch applications like personal care products and office supplies.

North America and Western Europe remain significant markets for styrenic block copolymers, although their combined share of global demand dropped from 42% in 2007 to 30% in 2017. Countries in these regions boast large and technologically advanced construction industries, a key segment for SBCs used as asphalt modifiers and sealants. Additionally, North America and Western Europe generate substantial demand for SBC-based adhesives in tapes and labels for packaging and nonwoven disposable products.

Demand for all types of TPEs is expected to expand 4.1% annually through 2022 to 6.8 million metric tons, valued at $25.5 billion. Robust growth in developing markets like Thailand and India will drive gains in the near term, stimulated by rapid economic development and slow but steady market penetration of TPEs. Adoption of TPEs will also continue to advance in the developed world, as concerns about competitive materials bring TPEs to the forefront.

Global Thermoplastic Elastomers Market, 10th Edition (published 5/2018, 290 pages) is available for $6500 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email [email protected].

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