The latest report in the Transparent Market Study entitled “2012 – 2018 Styrene Block Copolymer Market – Global Industry Analysis, Size, Share, Growth and Forecast” discusses the worldwide revenue and demand for styrene copolymers. According to the report, the global demand for medical and healthcare applications in 2011 was 123.4 kg, and the compound annual growth rate for 2012-2018 is expected to be 5.4%. By 2018, the market is expected to reach 177.1 thousand tons. In terms of revenue, by 2018, the market is expected to reach $698.8 million, with a compound annual growth rate of 7.2% from 2012 to 2018.
Styrenic block copolymers (SBCs) occupy the largest volume market for thermoplastic elastomers (TPE). This can be illustrated by the ability of the styrenic block copolymer to be processed by its physical and mechanical properties as well as as a thermoplastic material filled with a vulcanized elastomer.
The demand for styrenic block copolymers in the medical and healthcare industry is primarily due to its high health and environmental benefits. Therefore, the trend to replace PVC products with environmentally friendly compounds has contributed to the growing demand for styrenic block copolymers in the medical and medical fields.
In addition, the research and development of the bio-based SBC plastics market may herald the most promising market growth opportunities. The only key challenge facing this market is the volatility of raw material prices. Therefore, the trend of continuously using biobased alternative materials in synthetic materials will minimize the effects of continued fluctuations in raw materials.
This report analyzes the styrenic block copolymer market from a quantitative and revenue perspective, providing a comprehensive picture of the SBC needs of the healthcare industry. From 2012 to 2018, global demand for styrenic block copolymers (SBCs) is expected to increase by 6% in the diagnostic and medical device and product markets. However, in terms of revenue, the SBC market is expected to reach $959 million by 2018.
The study also provides in-depth details of the SBC market by subdividing the market into styrene-butadiene styrene (SBS), styrene-ethylene-butyl styrene (SEBS) and other SBCs (including SIBS). Among them, SEBS is heavily consumed by the healthcare industry and has proven to be the most influential SBC product on the global market. This is also the fastest growing SBC in the medical industry. In 2011, it accounted for more than 68% of the total medical SBC. SEBS is primarily used in the manufacture of medical kits for the medical and healthcare industries (including CAPD, IV, blood bags) and many other medical flexible materials.
Through regional studies and analysis, the report indicates that North America is a major consumer of medical styrenic block copolymers (SBCs). The growth in this region is due to the increasing medical expenses of the US federal government. In 2011, SBC in North America accounted for 38.7% of global demand. Subsequently, Europe followed closely as the second largest consumer. The Asia Pacific region is the next fastest growing market for SBCs and is expected to grow by 7.2% from 2012 to 2018.