The global hydrogenated styrene block copolymers market is likely to grow at a healthy CAGR between 2017- 2023, according to the recent Market Research Future (MRFR) report. Hydrogenated styrene block copolymers or HSBC is a polymeric material that is highly engineered and manufactured by the hydrogenation of SBC (styrene block copolymer). It is composed of thermoplastic and elastomeric material which possesses a triblock structure. HSBC has high thermo-oxidative UV stability. Owing to its alluring features such as low toxicity, excellent chemical resistance properties and low temperature, superior heat resistance and weather ability, and good electrical insulation properties, HSBC has wide applications in healthcare, chemicals, footwear, automotive, construction, and other industries.
Various factors are adding to the global hydrogenated styrene block copolymers market share. These factors, as per the new MRFR report, include increasing construction activities across the globe, increasing use of hydrogenated styrene block copolymer in the footwear production for its durability and high tensile strength, rising demand from the automotive and construction industries, and high thermo-oxidative UV stability.
Notable players profiled in the global hydrogenated styrene block copolymers market report include Teknor Apex (U.S.), Grupo Dynasol (U.S.), The Hexpol group of companies (U.K.), LYC GROUP (Taiwan), China Petrochemical Corporation (China), and Kraton Corporation (Japan). Industry players have incorporated strategies such as acquisitions, mergers, contracts, geographic expansions, strategic alliances, extensive research and development activities, new product development, and joint ventures collaborations to stay ahead in the competition.
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On the contrary, fluctuation in raw material costs and limitation on its production owing to environmental concerns are factors that may limit the hydrogenated styrene block copolymers market growth over the forecast period.
The MRFR report provides an inclusive segmental analysis of the global hydrogenated styrene block copolymers market based on end use industry, type application.
By type, the hydrogenated styrene block copolymers market is segmented into styrene ethylene butylene styrene (SEBS) and styrene ethylene propylene styrene (SEPS). Of these, the SEBS segment will lead the market over the forecast period for its increasing use in various end use industries.
By application, the hydrogenated styrene block copolymers market is segmented into sealants, adhesives, films, coating, and others. Of these, coatings and adhesives will dominate the market over the forecast period.
By end use industry, the hydrogenated styrene block copolymers market is segmented into healthcare, chemicals, footwear, automotive, construction, and others.
Based on the region, the global hydrogenated styrene block copolymers market covers the recent trends and growth opportunities across Europe, the Americas, the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Of these, the APAC region is predicted to spearhead the market over the forecast period for the expansion of infrastructural projects, burgeoning demand from automotive industries and construction industries.
The hydrogenated styrene block copolymers market in North America is predicted to hold the second-largest share over the forecast period. Factors boosting the market growth include an increase in reconstruction activities, and burgeoning demand from the automotive industry, and the aircraft industry.
The hydrogenated styrene block copolymers market in Europe is predicted to have healthy growth over the forecast period for the mounting use in the automotive industry to make interiors of luxury vehicles and increasing use in the healthcare industry in elastic components and coatings for various hygienic products like diapers and sanitary napkins.
The hydrogenated styrene block copolymer market in Latin America is predicted to have a small share during the forecast period and is predicted to have steady changes in the years to come.
The hydrogenated styrene block copolymers market in the MEA is predicted to have significant growth over the forecast period for easy availability of raw materials and high investment potential.
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