Styrene Butadiene Styrene Market 2021

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Styrene Butadiene Styrene MARKET 2020
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
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Styrene Butadiene Styrene MARKET 2020
Styrene Butadiene Styrene Market 2020 Industry
Survey, Growth, CompetitiveLandscape and
Forecasts to 2023
Global Styrene Butadiene Styrene Market Is
Estimated to Be Valued at USD 6,000 Million by
2025 and Record a CAGR of over 6 during the
Forecast Period. The global styrene butadiene
styrene market is expected to witness a surging
growth in the coming assessment period owing to
its widespread usage in diverse end-use
industries such as footwear, construction,
automotive, adhesive sealants, and medical. The
growth in the global market is mainly attributed
to the growing usage of SBS in the footwear
industry to manufacture soles and the escalating
growth of the footwear industry. The increasing
demand for SBS-based modified bitumen in the
construction industry owing to superior cohesive
and waterproofing characteristics of SBS further
boosts the global demand. However, fluctuations
in raw material prices of one of its raw material
based on petroleum products is likely to hamper
the growth of the market. Moreover, the new areas
of application for SBS in adhesives sealants,
medical devices, and tire treads are likely to
create lucrative opportunities for the global
market in the coming future.
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Styrene Butadiene Styrene MARKET 2020
Market Segmentation According to MRFR
analysis, the global Styrene Butadiene Styrene
market has been segmented based on application,
and region. Based on application, the global
market has been segmented into footwear, asphalt
modification, polymer modification, adhesives
sealants, medical devices, electric electronic
devices, TPE compounding, and others. Among
these, the footwear segment accounts for the
largest share of around 30 in the global market
and is expected to witness the fastest growth
with a CAGR of over 6.5. This growth is
attributed to the exponential growth of the
end-use industries such as footwear, medical
devices, and construction. The footwear segment
is expected to reach a value of USD 1,800 million
by the end of 2025. Asphalt modification holds
the second-largest market share of around 23 and
is expected to witness a significant growth with
a CAGR of around 6 during the forecast
period. Enquiry of the Report
https//www.marketresearchfuture.com/enquiry/5948


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Styrene Butadiene Styrene MARKET 2020
Regional Analysis
Geographically, the global styrene butadiene
styrene market has been segmented into
Asia-Pacific, Europe, North America, and the rest
of the world. As per MRFR analysis, Asia-Pacific
was the dominant regional market, accounting for
the largest market share of over 50 in 2018 and
is expected to register a CAGR of around 6.5
during the forecast period. North America
accounted for the second-largest share of the
global Styrene Butadiene Styrene market holding a
share of around 25 in 2018. The Europe region is
expected to witness moderate growth, at a CAGR of
5.5 over the forecast period. Latin America and
the Middle East Africa market is also likely to
witness significant growth with a CAGR of around
6 during the forecast period, 20192025.
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Styrene Butadiene Styrene MARKET 2020
Application Major Players in this Research
Styrene Butadiene Styrene Market Prominent
Players Market Research Future (MRFR) recognizes
the following companies as the Key Players in the
global Styrene Butadiene Styrene market Versalis
S.p.A. (Italy), TSRC Corporation (Taiwan),
Sinopec (China), PetroChina (China), Kraton
Corporation (US), BASF SE (Germany), Kumho
Petrochemical (South Korea), Keyuan
Petrochemicals (China), Dynasol Elastomeros
(Europe), LCY Chemical (Taiwan), and LG Chem
(South Korea).
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