Styrenic Block Copolymer Market to Exceed $10 Billion by 2023
The global styrenic block copolymer market (SBC) size was 1.96 million tons in 2015.
The global styrenic block copolymer market (SBC) size was 1.96 million tons in 2015, according to a recent research report from Global Market Insights Inc. The global SBC market size is forecast to reach 2.84 million tons by 2023, growing at compound annual growth rate (CAGR) of 4.8%. The market size is forecast to reach $10.01 billion by 2023. Increasing medical and healthcare industry expansion owing to rise in consumer per capita income along with growing health consciousness are expected driving factors to stimulate styrenic block copolymer market growth.
Styrene butadiene styrene (SBS) market was a key product segment, valued at $4.5 billion in 2015. Improving baby diapers fit and comfort owing to elastomeric materials are key properties to encourage styrenic block copolymers market growth. Latin America and Asia Pacific are the major consumers owing to growing infancy birth rate.