Medical
Medical Styrenic Block Copolymer (SBC) Market Industry Demand, Key Drivers & On-Going Trends
Medical styrene block copolymer (SBC) market also alluded as Kraton styrenic block copolymers, are family of thermoplastic elastomers – an element that processes like plastic but works like a rubber. This is due to the physical crosslinks that are inherent in block copolymer structure, that is changeable when heated or dissolved.
Essentially, the Thermoplastic styrenic elastomers (TPS) are compounds based on styrene-butadiene-styrene (SBS) block copolymer or styrene-ethylene-butylene-styrene (SEBS). These are attached to an arrangement of butadiene repeat units and completed with another block of styrene units.
Styrenic butadiene copolymers signify a versatile family of resins for adhesive sealant. Fabrications of styrenic block copolymer resin used as a foundation polymer forms a unique combination of elastomer with wide array in diverse market. The styrenic block copolymer inherits certain properties such as crystal clarity, design versatility, high resistance, excellent thermal stability, and sterilizability by gamma irradiation, ethylene oxide gas, and mutagenic or irritant potential. All these properties are expected to drive the market.
Market Overview
The Medical Styrene Block Copolymer (SBC) Market is set to reveal a substantial upturn with a CAGR of almost 4.5% during the forecasted period of 2021 to 2030. The Medical Styrene Block Copolymer (SBC) Market was valued at USD 7,134 million in 2021 and is estimated to garner a significant improvement and reach USD 10,001 million by 2030.
The Styrene Block Copolymer are mainly used as principle material in the production of medical bags such as IV bags and blood bags. The Styrene Block Copolymer holds an extensive range of physical as well as chemical properties such as, high elasticity, temperature resistance, strength along with compatibility with resins, polyolefin, and styrenics. Due to these properties, the Styrene Block Copolymer is gaining high demand in the health care sector. In addition to this, the rising focus on enhancing the physical properties of SBCs has expedited the product adoption globally.
The Styrene Block Copolymer market is anticipated to exhibit a noteworthy rise throughout the forecasted period subject to rising use of the product in manufacturing of ventilators, oxygen masks, and respiratory equipment. Moreover, the use of styrene block copolymer for phthalates that adversely affect patient’s health is expected to drive the market trend. Besides, surge in congenital heart anomalies is likely to craft more demand for medical equipment, thereby, enlarging the expansion of medical styrenic block copolymer sector.
Market Key players
Companies are undertaking research and development activities to bring in new advanced lock copolymers in to the market to sustain the competition. One of the popular technologies such as Anionic polymerization is gaining acceptance on wide scale. The global market is fragmented due to prevalence of large number of manufacturers across the globe. Some of the prominent players are Eastman Chemical Company, Kumho Petrochemical Co., Ltd., Versalis S.p.A., LYC CHEMICAL Corp., Grupo Dynasol, RTP Company, Asahi Kasei Corporation, China Petrochemical Corporation, JSR Corporation, LG Chem Ltd., Ineos Styrolution Group GmbH, and BASF SE.
Segmentation
Medical Styrene Block Copolymer (SBC) Market is segmented into Product Type, Application, and End Use
Product type Analysis
Based on Product Type the market is further segmented into
- Styrene Ethylene Butadiene Styrene
- Styrene Isoprene Butadiene
- Styrene-Butadiene-Styrene
where Styrene-Butadiene-Styrene segment is dominating the market with a CAGR of 7.5%.
Segmentation by Application
Based on Application the market is further segmented into
- Wound Care
- Tubing
- Packaging & Diagnostic Products
- Medical Bags
Among all the above the Tubing segment is expected to represent a larger size of growth during the estimated timeline.
Regional Analysis
Based on the geographical segment, the market covers North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World. In 2020, the Middle East & African market were valued at 10 million. Asia Pacific is expected to display a significant growth during the forecasted timeline.
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Covid-19 impact on the market:
The recent virus spread across the globe at a disturbing pace tainting millions and bringing about a fall of worldwide efficiency resulting in monetary movement coming almost close to a halt. Covid-19 made a massive dent on in the diagnostic and medical sector with steep fall in patient influx since the beginning of 2020. The pandemic developed a sinister feeling among people, that eventually impacted the volume of patients visits to hospitals and clinics.
However, Medical Styrene Block Copolymer (SBC) Market was impacted positively on account of huge demand for ventilators, oxygen masks, and respiratory equipment during the pandemic period. The virus infection which affected the lungs created a huge demand for ventilators, oxygen masks, other sources of oxygen, such as pressure swing adsorption (PSA) plants, liquid oxygen thermos etc. Thus, giving a boost to the market growth.
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