Styrene Ethylene Butylene Styrene Market Size, Share, Trends, Growth and Forecast 2030

Styrene Ethylene Butylene Styrene Industry Prospective:

The global Styrene Ethylene Butylene Styrene market size was worth around USD 798.37 million in 2022 and is predicted to grow to around USD 1469.83 million by 2030 with a compound annual growth rate (CAGR) of roughly 7.91% between 2023 and 2030.     

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Styrene Ethylene Butylene Styrene Market: Overview

The chemical Styrene Ethylene Butylene Styrene (SEBS) is a thermoplastic polymer elastomer made up of the monomers styrene, ethylene, and butylene. It is a semi-crystalline substance that may be altered to fit several purposes and has a reasonably high melting point. Automotive, electrical, and consumer goods are just a few of the products that employ SEBS. It is well renowned for its outstanding resistance to chemicals, oils, and UV radiation. Polyolefin polymers utilized in the footwear industry, such as polyethylene and polypropylene, are the building blocks employed by SEBS. Thus, pressure-sensitive adhesives (PASs) carried by SEBS are employed internationally in place of natural PASs in a range of applications, including taps, labels, and others. Additionally, it is anticipated that the growing demand for adhesives & sealants from end-use sectors including packaging, construction, and automotive will favorably affect the market for SEBS.

Key Insights

• As per the analysis shared by our research analyst, the global Styrene Ethylene Butylene Styrene market is estimated to grow annually at a CAGR of around 7.91% over the forecast period (2023-2030).
• In terms of revenue, the global styrene ethylene butylene styrene market size was valued at around USD 798.37 million in 2022 and is projected to reach USD 1469.83 million, by 2030.
• The global SEBS market is expected to be driven by several factors including the increasing construction sector and the growing demand for SEBS from the footwear industry.
• Based on the form, the pellets segment is expected to dominate the market during the forecast period.
• Based on the end-use industry, the adhesive & sealants segment is expected to capture the largest revenue share during the forecast.
• Based on region, the Asia Pacific is expected to hold the largest market share over the forecast period.

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Styrene Ethylene Butylene Styrene Market: Growth Drivers

Growth in demand for adhesives and sealants drives market growth

Production of adhesive tapes, including pressure-sensitive tapes, packaging tapes, industrial tapes, surgical tapes, cartridge adhesives, labels, and more, is carried out by SEBS. Adhesives and sealants are used in many different applications, such as thermal insulator sealants, adhesives used in the delivery of drugs and other medical procedures, as well as in construction activities involving floor tiles, joint cement, and other materials. It is therefore predicted that rising consumption of adhesives and sealants will also increase demand for SEBS. The Canadian Mortgage and Housing Corporation reports that in 2020, 14,000 more housing units will be built, more than 65,900 existing housing units will be restored, and more than 23,800 community housing units will be safeguarded. The packaging sector is predicted to develop at a rate of 26.7% annually, from US$50.5 billion in 2019 to US$204.81 billion in 2025, according to the Indian Institute of Packaging (IIP). To increase the need for adhesives and sealants in the nation, the governments of India and other nations are taking steps and making sizable investments in industries. This will also propel the expansion of the styrene ethylene butylene styrene market.

Styrene Ethylene Butylene Styrene Market: Restraints

Awareness about health and environmental regulations acts as a major restraining factor to the market growth

Styrene is used to create polymers, which are then utilized to create plastics such as unsaturated polyesters, styrene-ethylene butylene styrene, and others. Styrene may irritate skin and eyes with liquid or vapor during exposure. It is also detrimental to respiration. So, strengthening styrene regulations will result in less plastic polymer output. By 2022, the Environmental Protection Agency (EPA) will have passed the Toxic Substances Control Act (TSCA), which will allow for the risk assessment of styrene. According to the Toxics Release Inventory (TRI) Act, styrene is a dangerous alternative to air pollution. Therefore, more environmental and health regulations may result in less demand for styrene, which also results in less styrene ethylene butylene styrene synthesis. Thus, acting as a major restraining factor for the styrene ethylene butylene styrene industry growth during the forecast period.

Styrene Ethylene Butylene Styrene Market: Opportunities

The rising automotive industry is expected to offer a lucrative opportunity for market expansion

SEBS is used in automotive applications such as gaskets, seals, and interior components. As the automotive industry continues to innovate for improved comfort, durability, and safety, SEBS's properties make it a desirable material for various parts and components. Thus, with the increase in the automotive industry, the demand for SEBS is expected to rise over the forecast period. For instance, according to the Society of Indian Automobile Manufacturers, a total of 38,90,114 passenger vehicles were sold overall, up from 30,69,523. In comparison to the prior year, sales of Passenger Cars climbed from 14,67,039 to 17,47,376, Utility Vehicles from 14,89,219 to 20,03,718 and Vans from 1,13,265 to 1,39,020 units in FY-2022–23. In addition, the aggregate sales of commercial vehicles rose from 7,16,566 to 9,62,468 units. In comparison to the prior year, sales of Light Commercial Vehicles climbed from 4,75,989 to 6,03,465 units while those of Medium and Heavy Commercial Vehicles increased from 2,40,577 to 3,59,003 units.

Styrene Ethylene Butylene Styrene Market: Challenges

Material cost and complex processing pose a major challenge to market growth

SEBS can occasionally cost more than other materials, depending on the formulation and application. When choosing materials for their goods, manufacturers may be influenced by this pricing aspect. Additionally, although SEBS is thermoplastic and may be treated using conventional plastic processing techniques, due to its elastomeric nature, processing may provide difficulties. It can be challenging to retain the appropriate mechanical qualities while achieving continuous melt flow, particularly in complicated or thin-walled designs. Therefore, posing a major challenge to the styrene ethylene butylene styrene market growth over the forecast period.

Styrene Ethylene Butylene Styrene Market: Segmentation

The global Styrene Ethylene Butylene Styrene industry is segmented based on form, end-use industry, and region.

Based on the form, the global market is bifurcated into pellets and powder. The pellets segment is expected to dominate the market during the forecast period. SEBS has exceptional resistance to oxidation, ozone, and general outdoor weathering when it is in pellet form. It is therefore employed in applications including products for consumers, industrial, and buildings and construction. Because there is no double bond in SEBS pellets, they are exceptionally resistant to wear. It naturally reacts negatively to oxidation. As a result, it is perfect for objects that need to withstand temperatures between 150° C and 230 ° C, such as toys, bottle caps, garden tools, knobs, and others. Thereby, driving the market growth over the forecast period.

Based on the end-use industry, the styrene ethylene butylene styrene industry is bifurcated into pharmaceuticals, adhesives & sealants, electrical & electronics, cosmetics & personal care, agriculture, packaging, footwear & sports, and others. The adhesive & sealants segment is expected to capture the largest revenue share during the forecast period owing to the rise in demand across a range of end-use sectors, including automotive, packaging, construction, electronic components, and others. Adhesive tapes, labels, and other components used in the construction and packaging industries are produced by SEBS. As a result, the expansion of these industries helps in the growth of the SEBS market in emerging and developing nations.  For instance, the building sector is expanding quickly in the United Kingdom. By 2022, the British government wants to build 1.5 million extra houses. The National Bureau of Statistics (NBS) also reports that China's real estate investment increased by 7.0% in 2020. Thus, this is expected to drive the market growth during the forecast period.

Styrene Ethylene Butylene Styrene Market: Report Scope

Styrene Ethylene Butylene Styrene Market: Regional Analysis

The Asia Pacific is expected to hold the largest market share over the forecast period

The Asia Pacific is expected to dominate the global styrene ethylene butylene styrene market during the forecast period. The growth in the regional market is attributed to the increasing automotive industry and the rising construction sector. With domestic production estimated to exceed 35 million cars by 2025, China is still the largest market for automobiles worldwide in terms of both yearly sales and manufacturing output. According to information from the Ministry of Industry and Information Technology, approximately 26 million vehicles, including 21.48 million passenger cars, were sold in 2021, a rise of 7.1% from 2020. Sales of commercial vehicles fell 6.6% from 2020 to 4.79 million units. In addition, according to the 14th Five-Year Plan for China places a strong emphasis on new urbanization, energy, water, and transportation infrastructure projects. Estimates predict that the total amount invested in new infrastructure during the 14th Five-Year Plan (2021–2025) would be close to 27 trillion yuan ($ 4.2 trillion). The new plan aims for the construction of over 50 million square meters of net zero energy consumption buildings as well as the renovation of over 350 million square meters of existing structures. It also highlights nine priority areas for energy efficiency and green building development. Thus, this is expected to drive the market growth in the region.

Styrene Ethylene Butylene Styrene Market: Competitive Analysis

The global Styrene Ethylene Butylene Styrene market is dominated by players like:

• General Industrial Polymers
• Asahi Kasei Corporation
• Kraton Polymers
• Kuraray Co. Ltd
• LCY GROUP
• Ravago Group
• China Petrochemical Corporation (Sinopec Corp.)
• Dynasol Group
• JSR Corporation
• Celanese Corporation
• Trinseo
• TSRC
• Versalis SpA (Eni SpA)
• RTP Company

The global Styrene Ethylene Butylene Styrene market is segmented as follows:

By Form

• Pellets
• Powder

By End-use Industry

• Pharmaceutical
• Adhesive & Sealants
• Electrical & Electronics
• Cosmetics & Personal Care
• Agriculture
• Packaging
• Footwear & Sports
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa