Styrene Ethylene Butylene Styrene (SEBS) Market Size
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 312.27 kilotons |
| Market Volume (2029) | 400.37 kilotons |
| CAGR (2024 - 2029) | 5.10 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players_-_Key_Players.webp)
*Disclaimer: Major Players sorted in no particular order |
Styrene Ethylene Butylene Styrene (SEBS) Market Analysis
The Styrene-ethylene-butylene-styrene Market size is estimated at 312.27 kilotons in 2024, and is expected to reach 400.37 kilotons by 2029, growing at a CAGR of 5.10% during the forecast period (2024-2029).
The COVID-19 pandemic hampered the styrene ethylene butylene styrene (SEBS) market as nationwide lockdowns in several countries and strict social distancing measures affected applications such as adhesives and sealants, automotive, and plastics. However, the market registered a significant growth rate well after the restrictions were lifted due to the increasing demand for ethylene butylene styrene from adhesives and sealants, automotive, and plastics industries.
- The increasing investments in the adhesives industry and the growing demand from the automotive industry are expected to drive the market for styrene ethylene butylene styrene.
- On the flip side, the hazardous nature and regulations of styrene are expected to hinder the growth of the market.
- The emergence as a replacement for PVC across various applications is expected to create opportunities for the market during the forecast period.
- Asia-Pacific is expected to dominate the market. It is also expected to register the highest CAGR during the forecast period. This is due to the rising demand for styrene ethylene butylene styrene from adhesives and sealants, automotive, and plastics industries.
Styrene Ethylene Butylene Styrene (SEBS) Market Trends
The Automotive Industry is Expected to Dominate the Market
- Styrene-ethylene-butylene-styrene (SEBS), owing to its high strength, excellent UV and heat stability, and other physical properties, is used in automotive weather seals, window encapsulation, glass run channels, static seals, automotive interior trim, and instrument panel preparation.
- Global automobile manufacturing is expected to surpass 100 million units in the near future due to increasing population levels and rising affluence in emerging markets. According to the Organization Internationale des Constructeurs d’Automobiles (OICA), in 2023, around 93.55 million vehicles were produced worldwide, witnessing a growth rate of 10% compared to 85.02 million vehicles in 2022. This indicated an increased demand for SEBS from the automotive industry. In 2023, around 68 million passenger cars were manufactured worldwide, up by nearly 11% compared to 2022.
- The growth in the automotive industry can also be seen due to the rising demand for electric vehicles. In terms of EV volume, the total number of electric vehicle sales is expected to reach 31 million in 2027 and 74.5 million by 2035. Therefore, the demand for SEBS is expected to grow in the coming years.
- China’s passenger electric vehicle (EV) market continues to grow at an impressive rate. EV sales rose by 87% Y-o-Y in 2022. BYD, Wuling, Chery, Changan, and GAC are some of the top Chinese brands that dominate the EV market, with local brands commanding 81%. Additionally, in 2022, BYD increased its market share by over 11% Y-o-Y, with six out of the top 10 EV models in the Chinese market coming from the brand.
- The Chinese government estimates a 20% penetration rate of electric vehicle production by 2025. This is anticipated to increase the production and consumption of vehicle batteries, thus increasing SEBS demand in the market.
- According to the China Association of Automobile Manufacturers (CAAM), China has the largest automotive production base in the world, with a total vehicle production of 30.16 million units in 2023, registering an increase of 11.7% compared to 27 million units produced last year.
- Owing to all these factors, the market for styrene-ethylene-butylene-styrene (SEBS) is likely to grow globally during the forecast period.
Asia-Pacific is Expected to Dominate the Market
- Asia-Pacific dominated the global SEBS market. With growing construction activities in countries like India, China, Japan, and South Korea, the demand for adhesives, sealants, and electrical products has been increasing in the region, further leading to an increase in the consumption of SEBS.
- The Chinese adhesives and sealants market is estimated to witness healthy growth over the coming years in end-user segments such as packaging, automotive, construction, and electronic industries. Some of the major players and potential customers for SEBS in the country are 3M, HB Fuller Company, Henkel AG & Co. KGaA, Arkema Group, Sika AG, Huitian New Materials, Wanwei High-tech, and others.
- According to statistics from the China Adhesive and Adhesive Tape Industry Association, adhesive production in the country increased year on year from 2021 to 2022, reaching a total of 7.88 million metric tons in 2022. The production of adhesives is expected to reach 8.55 million metric tons in 2025, which is expected to increase the demand for SEBS.
- India is the second-largest footwear manufacturer in the world, accounting for 9% of the annual global production of 22 billion pairs. Nearly 90% of the manufactured footwear is utilized in the country, and the rest is exported. The consumption of footwear stood at around 2.1 billion pairs, and it ranks third after China and the United States.
- India has the potential to become a world leader in the footwear and leather industry. The leather industry is expected to grow due to the country's free trade agreement (FTA) with the United Arab Emirates. Exports increased by 64% in November 2022, according to the Union Minister for Trade Industries, Consumer Affairs, Food, and Public Distribution and Textiles.
- According to the Japan Electronics and Information Technology Industries (JEITA), the production value of industrial electronic devices stood at JPY 293,577 million (USD 2,080.85 million) in December 2023, increasing by almost 100% annually. Furthermore, the production value of consumer electronic equipment in the country stood at JPY 35,775 million (USD 253.57 million) in December 2023, increasing by around 112.2% during the same period the previous year.
- Due to all such factors, the market for styrene-ethylene-butylene-styrene (SEBS) in the region is expected to show steady growth during the forecast period.
Styrene Ethylene Butylene Styrene Industry Overview
The styrene-ethylene-butylene-styrene (SEBS) market is consolidated in nature, with top players contributing to the major share of the market. Some of the major players in the market include (not in any particular order) Kraton Corporation, China Petrochemical Corporation (Sinopec Corp.), Celanese Corporation, TSRC, and Asahi Kasei Corporation.
Styrene Ethylene Butylene Styrene (SEBS) Market Leaders
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Kraton Corporation
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China Petrochemical Corporation (Sinopec Corp.)
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Celanese Corporation
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TSRC
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Asahi Kasei Corporation
*Disclaimer: Major Players sorted in no particular order
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Styrene Ethylene Butylene Styrene (SEBS) Market News
- April 2023: The China Petroleum and Chemical Corporation subsidiary Hainan Baling Chemical New Material Co. Ltd invested RMB 1.92 billion (USD 279.74 million) in the Hainan Baling project and initiated the production of its styrene-butadiene copolymer (SBC) project in Hainan, China. The project's SBC plant produces 170,000 tons of SBS and SEBS products annually, including 120,000 tons of SBS products and 50,000 SEBS products.
- August 2022: Kraton announced the expansion of the production capacity of styrene block copolymers at a manufacturing facility in Mailiao, Taiwan. This strategic move was expected to increase the capacity of the facility by 30% for the styrene-ethylene-butylene-styrene product range.
Styrene Ethylene Butylene Styrene (SEBS) Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Investments in the Adhesives Industry
4.1.2 Growing Demand From the Automotive Industry
4.1.3 Other Drivers
4.2 Restraints
4.2.1 Hazardous Nature and Regulations of Styrene
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Volume)
5.1 Form
5.1.1 Pellets
5.1.2 Powder
5.2 End-User Industry
5.2.1 Footwear
5.2.2 Adhesives and Sealants
5.2.3 Plastics
5.2.4 Roads and Railways
5.2.5 Automotive
5.2.6 Sporting and Toys
5.2.7 Electrical and Electronics
5.2.8 Other-end User Industries (Medical, 3D Printing, Lubricant Tackifiers, etc.)
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Malaysia
5.3.1.6 Thailand
5.3.1.7 Indonesia
5.3.1.8 Vietnam
5.3.1.9 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 France
5.3.3.4 Italy
5.3.3.5 Spain
5.3.3.6 NORDIC countries
5.3.3.7 Turkey
5.3.3.8 Russia
5.3.3.9 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Colombia
5.3.4.4 Rest of South America
5.3.5 Middle East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 Qatar
5.3.5.3 United Arab Emirates
5.3.5.4 Nigeria
5.3.5.5 Egypt
5.3.5.6 South Africa
5.3.5.7 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Asahi Kasei Corporation
6.4.2 Celanese Corporation
6.4.3 China Petrochemical & Chemical Corporation (Sinopec Corp.)
6.4.4 Dynasol Group
6.4.5 General Industrial Polymers
6.4.6 ENEOS Corporation
6.4.7 Kraton Corporation
6.4.8 Kuraray Co. Ltd
6.4.9 LCY GROUP
6.4.10 Ningbo Changhong Polymer Scientific and Technical Inc.
6.4.11 Ravago
6.4.12 RTP Company
6.4.13 Trinseo
6.4.14 TSRC
6.4.15 Versalis SpA
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Emergence as a Replacement For PVC Across Various Applications
Styrene Ethylene Butylene Styrene Industry Segmentation
Styrene ethylene butylene styrene, also known as SEBS, is an important thermoplastic soft elastomer (TPE) that behaves like rubber without undergoing vulcanization. SEBS is a high-temperature, high-resistance hydrogenated product. It has high mechanical strength and high safety. It is stable in color, odorless, and free of impurities. SEBS is often mixed with other oils, such as paraffin, to increase processing efficiency.
The SEBS market is segmented by form, end-user industry, and geography. By form, the market is segmented into pellets and powder. By end-user industry, the market is segmented into footwear, adhesives, and sealants, plastic, roads and railways, automotive, sporting and toys, electrical and electronics, and other end-user industries (medical, 3D printing, lubricant tackifiers, etc). The report also covers the market sizes and forecasts in 27 countries across major regions. For each segment, the market sizes and forecasts are provided based on volume (kilotons).
| Form | |
| Pellets | |
| Powder |
| End-User Industry | |
| Footwear | |
| Adhesives and Sealants | |
| Plastics | |
| Roads and Railways | |
| Automotive | |
| Sporting and Toys | |
| Electrical and Electronics | |
| Other-end User Industries (Medical, 3D Printing, Lubricant Tackifiers, etc.) |
| Geography | |||||||||||
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Styrene Ethylene Butylene Styrene (SEBS) Market Research FAQs
How big is the Styrene Ethylene Butylene Styrene Market?
The Styrene Ethylene Butylene Styrene Market size is expected to reach 312.27 kilotons in 2024 and grow at a CAGR of 5.10% to reach 400.37 kilotons by 2029.
What is the current Styrene Ethylene Butylene Styrene Market size?
In 2024, the Styrene Ethylene Butylene Styrene Market size is expected to reach 312.27 kilotons.
Who are the key players in Styrene Ethylene Butylene Styrene Market?
Kraton Corporation, China Petrochemical Corporation (Sinopec Corp.), Celanese Corporation, TSRC and Asahi Kasei Corporation are the major companies operating in the Styrene Ethylene Butylene Styrene Market.
Which is the fastest growing region in Styrene Ethylene Butylene Styrene Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Styrene Ethylene Butylene Styrene Market?
In 2024, the Asia Pacific accounts for the largest market share in Styrene Ethylene Butylene Styrene Market.
What years does this Styrene Ethylene Butylene Styrene Market cover, and what was the market size in 2023?
In 2023, the Styrene Ethylene Butylene Styrene Market size was estimated at 296.34 kilotons. The report covers the Styrene Ethylene Butylene Styrene Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Styrene Ethylene Butylene Styrene Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Styrene Ethylene Butylene Styrene Industry Report
The Styrene Ethylene Butylene Styrene (SEBS) market is comprehensively analyzed in the latest industry report, which details the market share, market size, and price trends. This industry analysis provides a thorough industry overview and market analysis, offering insights into various segments and end-user industries. The market forecast and market growth projections are included, highlighting the expected trends and developments.
The report covers the SEBS market across different geographies, including Asia-Pacific, North America, Europe, South America, and the Middle East and Africa. It also delves into the market segmentation by form, such as pellets and powder, and by end-user industries, including footwear, adhesives and sealants, plastics, roads and railways, automotive, sporting and toys, electrical and electronics, among others.
Industry reports indicate that the SEBS market is poised for significant growth, driven by its diverse applications and increasing demand across various sectors. The market outlook and market review sections provide a detailed examination of the factors influencing market value and market trends. The industry research highlights key market leaders and their strategies, offering valuable market data and industry statistics.
Additionally, the report includes a market forecast, predicting the future market growth and potential challenges. The industry information and industry outlook sections provide a comprehensive view of the market's trajectory, supported by detailed industry sales and market predictions.
For those interested in a deeper dive, the report example and report PDF are available as part of the market research. This comprehensive market report is essential for understanding the dynamics of the SEBS market and making informed business decisions.
