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Styrene Butadiene Styrene (SBS) Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The styrene butadiene styrene (SBS) market is segmented by type (oil extended and non-oil extended), application (footwear, asphalt modification, polymer modification, adhesives and sealants, and other applications), and geography (Asia-Pacific, North America, Europe, South America, and the Middle East and Africa). The report offers the market sizes and forecasts for the Styrene Butadiene Styrene (SBS) market in terms of revenue (USD million) for all the above segments.

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Styrene Butadiene Styrene (SBS) Market Size

Styrene Butadiene Styrene (SBS) Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 6.00 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Low

Major Players

Styrene Butadiene Styrene (SBS) Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Styrene Butadiene Styrene (SBS) Market with other markets in Chemicals & Materials Industry

Plastics, Polymers, and Elastomers

Adhesives and Sealants

Commodity Chemicals

Water and Wastewater Treatment

Advanced Materials

Construction Chemicals and Materials

Styrene Butadiene Styrene (SBS) Market Analysis

The Styrene Butadiene Styrene (SBS) market is expected to register a CAGR of greater than 6% during the forecast period.

The market was negatively impacted due to the COVID-19 pandemic. Due to the outbreak of COVID-19, various end-user industries were affected in the styrene butadiene styrene (SBS) market. Currently, the market has recovered from the pandemic and is growing at a significant rate.

  • Over the short term, the rapid expansion of the footwear industry is projected to have an impact on the growth of the styrene butadiene styrene (SBS) market. In accordance with this, rising modified bitumen demand in the construction sector and increased usage of the styrene-butadiene-styrene market in the footwear industry are expected to be significant variables encouraging the expansion of the styrene-butadiene-styrene (SBS) market throughout the projected period.
  • However, factors like fluctuation in raw material prices and the high production costs are expected to be major limitations on the growth rate of the styrene butadiene styrene (SBS) market during the projected period.
  • Nevertheless, a rise in research and development expenditure and fast technological innovation are projected to provide a range of growth opportunities for the styrene butadiene styrene (SBS) market during the forecast period.
  • The Asia-Pacific region dominated the market globally, with the largest consumption coming from countries such as China and India, and this is expected to remain the same in the future.

Styrene Butadiene Styrene (SBS) Market Trends

Footwear Segment is Anticipated to Hold a Significant Share

  • Styrene-butadiene-styrene (SBS) is a thermoplastic elastomer that has the same flexibility as rubber at room temperature and can be melted to flow at high temperatures like plastics, thus the name plastic substance. As a result, the SBS-modified asphalt is neither sticky when heated nor brittle when cooled, making it ideal for manufacturing comfortable footwear for daily usage.
  • SBS (styrene-butadiene-styrene) is a thermoplastic hard rubber that can nearly fully replace natural rubber. The increased usage of SBS is due to its numerous advantages for the industry as compared to the use of regular rubber. These benefits are separated into those that help the customer and those that benefit the manufacturer, and they include more comfortable footwear, increased durability, and lighter footwear.
  • SBS stands out because it is adaptable to a wide range of applications. It is effective as a sealer as well as an adhesive for the hot melt process. It is also utilized in the production of footwear since, as a thermoplastic elastomer, it is perfect for injection of parts such as slipper soles and other types of footwear. Curing periods are significantly shorter than those required for vulcanized elastomers.
  • China is currently the world's largest manufacturer of shoes and slippers, accounting for over 60% of total footwear production worldwide. According to the National Bureau of Statistics, the revenues of enterprises manufacturing leather, fur, or feathers amounted to RMB 1,105.72 billion (USD 160.54 billion) in 2021, up 8.2% yearonyear.
  • In 2022, Nike's footwear revenue from Greater China amounted to about USD 5.42 billion. This was slightly less than the previous year.
  • The footwear industry was estimated to increase 16.2% in volume in 2022, reaching 2,360 million pairs by 2025. Non-luxury brands account for 89% of footwear sales. According to the Footwear Distributors & Retailers of America, the United States produces 25 million pairs of shoes every year.
  • According to Eurostat, by 2022, the revenue from footwear manufacturing in the United Kingdom will be over USD 888 million.
  • All the aforementioned factors are expected to drive the footwear segment, which also enhanced the demand for styrene-butadiene-styrene during the forecast period.
Styrene Butadiene Styrene (SBS) Market: Manufacture of Footwear Revenue, in USD Million, United Kingdom, 2018-2022

Asia-Pacific Region to Dominate the Market

  • The global styrene-butadiene-styrene market is divided into seven geographical areas. China has the biggest market share and will be the top SBS user during the projection period.
  • Asia Pacific is predicted to increase at a modest rate throughout the projection period. Increasing disposable income in emerging nations is driving demand for convenience items, helping the growth of the worldwide styrene butadiene styrene market.
  • Styrene Butadiene Styrene (SBS) is the most often used synthetic rubber in adhesives and sealants, and it is made from a copolymer of styrene and butadiene. SBS adhesives outperform natural rubber adhesives in terms of heat, abrasion, and fracture resistance, as well as aging qualities.
  • China Adhesive 2022 is the world's first and only adhesive industry exhibition to be UFI certified, bringing together adhesives, sealants, PSA sellotape, and film goods. Based on 24 years of continuous growth, China Adhesive 2022 has earned a reputation as one of the world's premier exhibits in terms of its large scope and great effect.
  • Asphalt is the best waterproofing material, but it has poor aging characteristics and is brittle in cold weather. Elastomeric compounds such as SBS improve these properties, leading to improved quality and performance of roofing materials for flat roofs. As a result, SBS is also utilized in the construction sector.
  • According to the National Bureau of Statistics of China, China's construction production value peaked in 2022 at roughly CNY 31.2 trillion.
  • Furthermore, China is experiencing a development boom. The country is the world's largest construction market, accounting for 20% of all worldwide construction investments. By 2030, the country as a whole is estimated to spend over USD 13 trillion on construction.
  • The country's expanding economy has contributed to a number of advancements in the residential and commercial construction sectors, which have fueled China. In China, the Hong Kong housing authorities implemented a number of initiatives to encourage the building of low-cost homes. Officials hope to provide 301,000 public housing units over the next ten years, until 2030.
  • Additionally, according to the Ministry of Statistics and Program Implementation, in the fourth quarter of 2022, India's construction sector was valued at more than INR 3 trillion (USD 36662640000). This was a huge gain over 2020, when the value fell owing to the coronavirus (COVID-19) epidemic. The construction and industrial industries in the country were among the hardest hit at the time. Nonetheless, the sector appeared to swiftly recover and return to pre-crisis levels.
  • As a result, all the causes listed above are projected to increase demand for the styrene butadiene styrene market in the Asia-Pacific region in the future.
Styrene Butadiene Styrene (SBS) Market, Growth Rate by Region

Styrene Butadiene Styrene (SBS) Industry Overview

The global styrene butadiene styrene market is fragmented with the presence of very few large-sized players and a large number of small players operating. Some of the major companies are Kraton Corporation, China National Petroleum Corporation (CNPC), Kumho Petrochemical Co., Ltd, LCY GROUP, and LG Chem Ltd. amongst others (in no particular order).

Styrene Butadiene Styrene (SBS) Market Leaders

  1. Kraton Corporation

  2. China National Petroleum Corporation (CNPC)

  3. Kumho Petrochemical Co., Ltd

  4. LG Chem Ltd.

  5. LCY GROUP

*Disclaimer: Major Players sorted in no particular order

Styrene Butadiene Styrene (SBS) Market Concentration
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Styrene Butadiene Styrene (SBS) Market News

  • March 2023: Kraton Corporation announced a major increase in the production of styrene-butadiene-styrene block copolymers (SBS) at its Belpre, Ohio facility beginning in 2024. By 2025, manufacturing capacity is predicted to expand by 24 kilotons per year.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Rapid Expansion of the Footwear Industry

      2. 4.1.2 Rising Modified Bitumen Demand in the Construction Sector

    2. 4.2 Restraints

      1. 4.2.1 Fluctuation in Raw Material Prices and the High Production Costs

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 Type

      1. 5.1.1 Oil Extended

      2. 5.1.2 Non-Oil Extended

    2. 5.2 Application

      1. 5.2.1 Footwear

      2. 5.2.2 Asphalt Modification

      3. 5.2.3 Polymer Modification

      4. 5.2.4 Adhesives and Sealants

      5. 5.2.5 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%) **/Rank Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Asahi Kasei Corporation

      2. 6.4.2 China National Petroleum Corporation (CNPC)

      3. 6.4.3 Dycon Chemicals

      4. 6.4.4 Dynasol Group

      5. 6.4.5 Kraton Corporation

      6. 6.4.6 Kumho Petrochemical Co., Ltd.

      7. 6.4.7 LCY GROUP

      8. 6.4.8 LG Chem Ltd.

      9. 6.4.9 Milagro Rubber Company, Inc.

      10. 6.4.10 SIBUR International GmbH

      11. 6.4.11 Versalis S.p.A.

      12. 6.4.12 Taiwan Synthetic Rubber Corp. (TSRC)

    5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Rise in Research and Development Expenditure and Fast Technological Innovation

    2. 7.2 Other Opportunities

**Subject to Availability
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Styrene Butadiene Styrene (SBS) Industry Segmentation

Styrene Butadiene Styrene (SBS) is created by polymerizing styrene and butadiene in an organic solvent. It is utilized as an asphalt modifier, waterproof sheet, adhesive, compounding, and plastic modifier.

The Styrene Butadiene Styrene (SBS) market is segmented by type, application, and geography. By type, the market is segmented into oil extended and non-oil extended. By application, the market is segmented into footwear, asphalt modification, polymer modification, adhesives and sealants, and other applications. The report also offers market size and forecasts for 15 countries across major regions. For each segment, market sizing and forecasts have been done based on revenue (USD million).

Type
Oil Extended
Non-Oil Extended
Application
Footwear
Asphalt Modification
Polymer Modification
Adhesives and Sealants
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Frequently Asked Questions

The Styrene Butadiene Styrene (SBS) Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

Kraton Corporation, China National Petroleum Corporation (CNPC), Kumho Petrochemical Co., Ltd, LG Chem Ltd. and LCY GROUP are the major companies operating in the Styrene Butadiene Styrene (SBS) Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia-Pacific accounts for the largest market share in Styrene Butadiene Styrene (SBS) Market.

The report covers the Styrene Butadiene Styrene (SBS) Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Styrene Butadiene Styrene (SBS) Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Styrene Butadiene Styrene (SBS) Industry Report

Statistics for the 2024 Styrene Butadiene Styrene (SBS) market share, size and revenue growth rate, created by Mordor Intelligenceā„¢ Industry Reports. Styrene Butadiene Styrene (SBS) analysis includes a market forecast outlook to for 2024 to (2024to2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Styrene Butadiene Styrene (SBS) Report Snapshots

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Styrene Butadiene Styrene (SBS) Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)