Styrene Butadiene Styrene Market Exhibiting At A CAGR of 5.6% from 2022 to 2030Posted by Neha Bora on August 16th, 2023 San Francisco, 16 Aug 2023: The Report Styrene Butadiene Styrene Market Size, Share & Trends Analysis Report By Type, By Application (Footwear, Asphalt Modification, Polymer Modification, Adhesives), By Region, And Segment Forecasts, 2022 - 2030 The global styrene butadiene styrene market size is expected to reach USD 8.42 billion by 2030, according to a new study by Grand View Research, Inc. The market is projected to expand at a CAGR of 5.6% from 2022 to 2030. Styrene Butadiene Styrene (SBS) is a homopolymer formed by a styrene and butadiene link. SBS is a tough polymer that features high levels of durability. It is often used for products that require endurance while being used, such as toys, housewares, and point-of-purchase displays. Growth of major end-use industries such as footwear and adhesives & sealants, mainly in the emerging markets from Asia Pacific and Latin America has been a key driving factor for the SBS industry. Demand for SBSs in developed markets of North America and Western Europe is about to reach its saturation and is expected to grow at a relatively sluggish rate over the next decade. The footwear industry consumes a reasonable share of the total thermoplastic elastomers produced globally. The footwear industry mainly uses styrene butadiene styrene (SBS) for manufacturing footwear including shoe soles. SBC compounds are widely used in the footwear industry where they are used to manufacture shoe soles owing to properties of high resilience strength. Therefore, the growth of the global SBS market is directly proportional to the growth of the global footwear market. Major players in the market are involved in new product launches, mergers and acquisitions, and collaborations to sustain the market competition. For instance, on August 29, 2022, Kraton Corporation and Formosa Petrochemical Corporation jointly decided to expand their Hydrogenated Styrenic Block Copolymers (HSBC) Joint Venture manufacturing facility in Mailiao, Taiwan. This project will increase the capacity of the current facility by 30%. The plant expansion is scheduled to begin in the 3rd quarter of 2024. Access Research Report of Styrene Butadiene Styrene Market @ https://www.grandviewresearch.com/industry-analysis/styrene-butadiene-styrene-market-report Styrene Butadiene Styrene Market Report Highlights
Styrene Butadiene Styrene Market Report Scope
List of Key Players in the Styrene Butadiene Styrene Market
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