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Medical Styrenic Block Copolymer (SBC) Market Size - By Product(Styrene Ethylene Butadiene Styrene, Styrene Isoprene Butadiene, Styrene-Butadiene-Styrene), by Application(Tubing, Medical Bags, Equipment, Packaging & Diagnostics Products, Wound Care) & Region - Forecasts 2023 -2033

  • PUBLISHED ON
  • 2022-12-04
  • NO OF PAGES
  • 256
  • CATEGORY
  • Healthcare & Life Sciences

Global Medical Styrenic Block Copolymer (SBC) Market- Description


Styrenic block copolymers are referred to as types of thermoplastic elastomers which are processed like plastics but tend to behave like rubbers. They are generally produced by ionic copolymerization of styrene and butadiene and 2- methyl-1, 3-butadiene (SIS) and are often blended with oils and fillers along with various type of polymers to enable versatile modification of product properties. These copolymers are predominantly used in the medical sector when it comes to designing orthopedic and respiratory equipment, needle shields, surgery drapery, drip chambers, among others.


IMG1

Source: WMR


Global Medical Styrenic Block Copolymer (SBC) Market- Overview

Global medical styrenic block copolymer (SBC) market was worth USD 7,134 million in 2022 and is anticipated to register a CAGR of 4.5% over the forecast duration 2023-2033, thereby reaching a valuation of USD 11,076 million by the end of the analysis timeline.

The major factors fueling the progression of this market are increasing use of styrenic block copolymers in producing oxygen masks, ventilators, and respiratory equipment. Also, the use of these components instead of phthalates in making producing healthcare equipment as the latter can negative impact a patient’s health is further adding to market expansion. Furthermore, favorable government laws and resignations approving the use of these copolymers for medical purposes and increasing expenditure on healthcare infrastructural development are positively swaying market dynamics.


IMG2

Source: WMR


Global Medical Styrenic Block Copolymer (SBC) Market- Key Trends

·         Increasing prevalence of cardiac and respiratory diseases are creating lucrative market growth avenues

Rising incidences of cardiac and respiratory disorders owing to various reasons like unhealthy eating habits, pollution, tobacco consumption, just to name a few have increased the demand for various medical equipment. The of styrenic block copolymers in producing medical devices have been approved by concerned regulatory bodies as they are safe and efficient, therefore increasing prevalence of the mentioned disorders are creating lucrative growth opportunities for the market as a whole.

Increasing demand for medical-grade materials

The demand for medical-grade materials, including medical SBCs, has been on the rise due to an increasing need for safe and effective medical devices and equipment. Medical SBCs are used in a wide range of medical applications, including medical tubing, catheters, and medical adhesives. There is a growing emphasis on product quality and safety in the medical industry, and this trend is driving the demand for high-performance medical SBCs. Manufacturers are investing in R&D to develop new and improved SBC materials that meet the rigorous quality and safety standards of the medical industry. There is a growing demand for sustainable materials in the medical industry, and this trend is also impacting the medical SBC market. Manufacturers are developing new bio-based SBC materials that offer similar performance properties to traditional SBCs but with a lower environmental impact.


Outbreak of COVID 19 pandemic fueled market progression

The outbreak of COVID 19 pandemic had a severely adverse effect on almost all the regions of the world. It not only claimed millions of lives but also shattered the economy of various reasons. But the pandemic actually created positive growth opportunities for a few industries with the global styrenic block copolymer market being one of them. With increasing number of infections, there was a rise in demand for medical equipment like ventilators, oxygen masks, cylinders, among others which were crucial for treating the infected patients. This in turn boosted the production and supplies of the required equipment and devices, thereby fueling market growth.


Global Medical Styrenic Block Copolymer (SBC) Market- Segment analysis

By Product

·         Styrene Ethylene Butadiene Styrene

·         Styrene Isoprene Butadiene

·         Styrene-Butadiene-Styrene

The styrene-butadiene styrene segment is anticipated to amplify with a CAGR of 7.5% over the forecast duration. This is attributable to the widespread usage of this component in manufacturing various types of medical devices owing to its high durability, easy availability, and cost effective nature. Besides, it is also used as a replacement for natural rubber across several end use industries including medical.

IMG3

Source: WMR



By Application

·         Tubing

·         Medical Bags

·         Equipment

·         Packaging & Diagnostics Products

·         Wound Care

The tubing segment is projected to record notable growth over the stipulated timeline as medical device manufacturers are replacing phthalates with styrenic block copolymers in tube production as they are safe and offer benefits such as low drug absorption, temperature resistance, flexibility, durability, elasticity, and better clarity.


Global Medical Styrenic Block Copolymer (SBC) Market- Regional Landscape

Considering the geographical terrain, North America, Asia Pacific, Europe, Latin America, and Middle East & Africa are the major benefactors to global medical styrenic block copolymer (SBC) market expansion. Asia Pacific market is projected to grow substantially over the analysis timeline attributable to population expansion, increasing healthcare expenditure in nations like India and China, and rising investments from private and public entities for the improvement of healthcare infrastructure across the region. Alongside, favorable government initiatives to cater to healthcare development across various nations in the region is further adding to industry progression.


Global Medical Styrenic Block Copolymer (SBC) Market- Competitive Hierarchy

Key players operating in the marketplace are Eastman Chemical Company, Versalis S.p.A, Kumho Petrochemical Co Ltd, Versalis S.p.A., LYC CHEMICAL Corp., Grupo Dynasol, RTP Company, BASF SE, JSR Corporation, LG Chem Ltd, LYC Chemical Corp, Ineos Styrolution Group, Asahi Kasei Corporation,  China Petrochemical Corporation, TSRC Corporation, Zeon Corporation, Kraton Corporation, Trinseo S.A., En Chuan Chemical Industries Co. Ltd., HEXPOL AB, CHIMEI, Momentive Performance Materials, Inc., Chevron Philips, and Others. 

Notably, PTT Global Chemical Public Company Limited, Kuraray Co., Ltd, and Sumitomo Corporation in January 2019 joined hands to invest in butadiene derivatives manufacturing project in Thailand. The project aimed at an annual production capacity of 16 kilotons of thermoplastic elastomers.


Global Medical Styrenic Block Copolymer (SBC) Market- Report Scope

Global Medical Styrenic Block Copolymer (SBC) Market- Historical Years- 2020-2021

Global Medical Styrenic Block Copolymer (SBC) Market- Forecast Years- 2023-2033

Global Medical Styrenic Block Copolymer (SBC) Market 2022- USD 7,134 million

Global Medical Styrenic Block Copolymer (SBC) Projected Market 2033- USD 11,076

Global Medical Styrenic Block Copolymer (SBC) Market CAGR- 4.5%

Key segments reported-


By Product (styrene ethylene butadiene styrene, styrene isoprene butadiene and styrene-butadiene styrene),

By Application (wound care, tubing, medical bags, and packaging & diagnostic products

Key regions and countries reported-


North America (US and Canada)

Asia Pacific (China, India, Japan, South Korea, and Australia)

Latin America (Brazil and Mexico)

Middle East and Africa (GCC and South Africa)

Europe (UK, Spain, France, Germany, and Italy)

Key players profiled- Eastman Chemical Company, Versalis S.p.A, Kumho Petrochemical Co Ltd, Versalis S.p.A., LYC CHEMICAL Corp., Grupo Dynasol, RTP Company, BASF SE, JSR Corporation, LG Chem Ltd, LYC Chemical Corp, Ineos Styrolution Group, Asahi Kasei Corporation,  China Petrochemical Corporation, TSRC Corporation, Zeon Corporation, Kraton Corporation, Trinseo S.A., En Chuan Chemical Industries Co. Ltd., HEXPOL AB, CHIMEI, Momentive Performance Materials, Inc., Chevron Philips, and Others. 

1. Global Medical Styrenic Block Copolymer (SBC) Market Introduction and Market Overview

1.1. Objective of the Market Research Study

1.2. Medical Styrenic Block Copolymer (SBC) Market Definition & Description

1.3. Research Data Parameters & Reporting Timelines

1.3.1. Historical Data Reporting Years – 2020 to 2021

1.3.2. Projected Data Reporting Years – 2022 to 2033

1.3.3. Reporting Data Parameters – Value (US$ Million) & Volume (Kilo Tons)

1.4. Global Medical Styrenic Block Copolymer (SBC) Market Scope and Market Estimation

1.4.1. Global Medical Styrenic Block Copolymer (SBC) Overall Market Size (US$ Million) & (Kilo Tons), Market CAGR (%), Market Estimates & Forecast (2020 to 2033)

1.4.2. Global Medical Styrenic Block Copolymer (SBC) Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2020 to 2033

1.5. Medical Styrenic Block Copolymer (SBC) Market Segmentation

1.5.1. Product of Global Medical Styrenic Block Copolymer (SBC) Market

1.5.2. Application of Global Medical Styrenic Block Copolymer (SBC) Market

1.5.3. Key Regions of Global Medical Styrenic Block Copolymer (SBC) Market


2. Global Medical Styrenic Block Copolymer (SBC) Market - Executive Summary

2.1. Global Medical Styrenic Block Copolymer (SBC) Market – Summary & Snapshot

2.2. Global Medical Styrenic Block Copolymer (SBC) Market, By Product (US$ Million) & (Kilo Tons)

2.3. Global Medical Styrenic Block Copolymer (SBC) Market, By Application (US$ Million) & (Kilo Tons)

2.4. Global Medical Styrenic Block Copolymer (SBC) Market, By Geography (US$ Million) & (Kilo Tons)

2.5. Global Medical Styrenic Block Copolymer (SBC) Market Outlook & Future Opportunities


3. Medical Styrenic Block Copolymer (SBC) Market Trends, Outlook, and Factors Analysis

3.1. Global Medical Styrenic Block Copolymer (SBC) Market Industry Development Trends under COVID-19 Outbreak

3.1.1. Global COVID-19 Status Overview

3.1.2. Influence of COVID-19 Outbreak on Global Medical Styrenic Block Copolymer (SBC) Market Industry Development

3.1.3. Pre & Post COVID-19 Trends and Scenarios

3.2. Market Dynamics (Growth Impacting Factors & Rationales)

3.2.1. Drivers

3.2.1.1. Increasing adoption of product in producing ventilators, oxygen masks, and respiratory equipment.

3.2.1.2. Increasing cases of congenital heart anomalies will increase use of medical devices

3.2.1.3. Rise in government spending on healthcare

3.2.2. Restraints

3.2.2.1. Rising demand for other substitutes such as thermoplastic elastomer

3.2.3. Opportunities

3.2.3.1. Advanced technologies used in the formulation of styrenic bock copolymers to include low styrene content

3.2.3.2. Rising privatization in medical sector

3.2.4. Impact Analysis of Drivers and Restraints

3.3. Ecosystem/ Value Chain Analysis

3.4. Porter’s Five Forces Analysis

3.5. SWOT Analysis

3.6. PEST Analysis

3.7. Average Selling Prices and Pricing Trends Analysis of Medical Styrenic Block Copolymer (SBC) Market

3.8. Technological Roadmap

3.9. Key Investment Pockets of Medical Styrenic Block Copolymer (SBC) Market

3.9.1. By Product

3.9.2. By Application

3.9.3. By Regions


4. Global Medical Styrenic Block Copolymer (SBC) Market: Estimates & Historic Trend Analysis (2020 to 2021)

4.1. Global Medical Styrenic Block Copolymer (SBC) Market, 2020 – 2021 (US$ Million) & (Kilo Tons)

4.2. Global Medical Styrenic Block Copolymer (SBC) Market, By Product, 2020 to 2021 (US$ Million) & (Kilo Tons)

4.3. Global Medical Styrenic Block Copolymer (SBC) Market, By Application, 2020 to 2021 (US$ Million) & (Kilo Tons)

4.4. Global Medical Styrenic Block Copolymer (SBC) Market, By Region, 2020 to 2021 (US$ Million) & (Kilo Tons)


5. Global Medical Styrenic Block Copolymer (SBC) Market Estimates & Forecast Trend Analysis, by Product

5.1. Global Medical Styrenic Block Copolymer (SBC) Market Share (%) Estimates and Forecasts, by Product, 2022 & 2033

5.2. Global Medical Styrenic Block Copolymer (SBC) Market (US$ Million) & (Kilo Tons) Estimates and Forecasts, by Product, 2022 to 2033

5.2.1. Styrene Ethylene Butadiene Styrene

5.2.2. Styrene Isoprene Butadiene

5.2.3. Styrene-Butadiene-Styrene


6. Global Medical Styrenic Block Copolymer (SBC) Market Estimates & Forecast Trend Analysis, by Application

6.1. Global Medical Styrenic Block Copolymer (SBC) Market Share (%) Estimates and Forecasts, by Application, 2022 & 2033

6.2. Global Medical Styrenic Block Copolymer (SBC) Market (US$ Million) & (Kilo Tons) Estimates and Forecasts, by Application, 2022 to 2033

6.2.1. Tubing

6.2.2. Medical Bags

6.2.3. Equipment

6.2.4. Packaging & Diagnostics Products

6.2.5. Wound Care


7. Global Medical Styrenic Block Copolymer (SBC) Market Analysis and Forecast, by Region

7.1. Global Medical Styrenic Block Copolymer (SBC) Market Share (%) Estimates and Forecasts, by Region, 2022 & 2033

7.2. Global Medical Styrenic Block Copolymer (SBC) Market (US$ Million) & (Kilo Tons) Estimates and Forecasts, by Region, 2022 to 2033

7.2.1. North America

7.2.2. Europe

7.2.3. Asia Pacific

7.2.4. Middle East and Africa

7.2.5. Latin America


8. North America Medical Styrenic Block Copolymer (SBC) Market: Estimates & Forecast Trend Analysis

8.1. North America Medical Styrenic Block Copolymer (SBC) Market Assessments & Key Findings

8.2. North America Medical Styrenic Block Copolymer (SBC) Market Share (%) Estimates and Forecasts, 2022 & 2033

8.3. North America Medical Styrenic Block Copolymer (SBC) Market Size Estimates and Forecast (US$ Million) & (Kilo Tons) (2022 to 2033)

8.3.1. By Product

8.3.2. By Application

8.3.3. By Major Country

8.3.3.1. The U.S.

8.3.3.2. Canada


9. Europe Medical Styrenic Block Copolymer (SBC) Market: Estimates & Forecast Trend Analysis

9.1. Europe Medical Styrenic Block Copolymer (SBC) Market Assessments & Key Findings

9.2. Europe Medical Styrenic Block Copolymer (SBC) Market Share (%) Estimates and Forecasts, 2022 & 2033

9.3. Europe Medical Styrenic Block Copolymer (SBC) Market Size Estimates and Forecast (US$ Million) & (Kilo Tons) (2022 to 2033)

9.3.1. By Product

9.3.2. By Application

9.3.3. By Major Country

9.3.3.1. Germany

9.3.3.2. The U.K.

9.3.3.3. France

9.3.3.4. Italy

9.3.3.5. Spain

9.3.3.6. Rest of Europe (includes all other European countries)


10. Asia Pacific Medical Styrenic Block Copolymer (SBC) Market: Estimates & Forecast Trend Analysis

10.1. Asia Pacific Medical Styrenic Block Copolymer (SBC) Market Assessments & Key Findings

10.2. Asia Pacific Medical Styrenic Block Copolymer (SBC) Market Share (%) Estimates and Forecasts, 2022 & 2033

10.3. Asia Pacific Medical Styrenic Block Copolymer (SBC) Market Size Estimates and Forecast (US$ Million) & (Kilo Tons) (2022 to 2033)

10.3.1. By Product

10.3.2. By Application

10.3.3. By Major Country

10.3.3.1. China

10.3.3.2. Japan

10.3.3.3. India

10.3.3.4. ASEAN

10.3.3.5. South Korea

10.3.3.6. Rest of Asia Pacific (includes all other Asia Pacific countries)


11. Middle East & Africa Medical Styrenic Block Copolymer (SBC) Market: Estimates & Forecast Trend Analysis

11.1. Middle East & Africa Medical Styrenic Block Copolymer (SBC) Market Assessments & Key Findings

11.2. Middle East & Africa Medical Styrenic Block Copolymer (SBC) Market Share (%) Estimates and Forecasts, 2022 & 2033

11.3. Middle East & Africa Medical Styrenic Block Copolymer (SBC) Market Size Estimates and Forecast (US$ Million) & (Kilo Tons) (2022 to 2033)

11.3.1. By Product

11.3.2. By Application

11.3.3. By Major Country

11.3.3.1. GCC

11.3.3.2. South Africa

11.3.3.3. Egypt

11.3.3.4. Rest of Middle East & Africa (includes all other Middle East & Africa countries)


12. Latin America Medical Styrenic Block Copolymer (SBC) Market: Estimates & Forecast Trend Analysis

12.1. Latin America Market Assessments & Key Findings

12.2. Latin America Medical Styrenic Block Copolymer (SBC) Market Share (%) Estimates and Forecasts, 2022 & 2033

12.3. Latin America Medical Styrenic Block Copolymer (SBC) Market Size Estimates and Forecast (US$ Million) & (Kilo Tons) (2022 to 2033)

12.3.1. By Product

12.3.2. By Application

12.3.3. By Major Country

12.3.3.1. Brazil

12.3.3.2. Mexico

12.3.3.3. Rest of Latin America (includes all other Latin America countries)


13. Competitive Landscape

13.1. Market Revenue Share Analysis (%), by Major Players (2021)

13.2. Market Competition Matrix, by Leading Players

13.3. List of Emerging, Prominent and Leading Players

13.4. Major Mergers & Acquisitions, Partnership, Joint Venture, Expansions, Deals, Recent Developments, etc.


14. Company Profiles

14.1. Eastman Chemical Company

14.1.1. Company Overview & Insights

14.1.2. Financial Performance

14.1.3. Product / Service Portfolio

14.1.4. Geographical Footprint & Share

14.1.5. Strategic Initiatives & Key Developments

*Similar details would be provided for all the players mentioned below

14.2. Kumho Petrochemical Co.Ltd.

14.3. Versalis S.p.A.

14.4. LYC CHEMICAL Corp.

14.5. Grupo Dynasol

14.6. RTP Company

14.7. Asahi Kasei Corporation

14.8. China Petrochemical Corporation

14.9. JSR Corporation

14.10. LG Chem Ltd.

14.11. Ineos Styrolution Group

14.12. BASF SE.

14.13. Dynasol Group

14.14. TSRC Corporation

14.15. Zeon Corporation

14.16. Kraton Corporation

14.17. Trinseo S.A

14.18. En Chuan Chemical Industries Co. Ltd

14.19. Versalis S.p.A.

14.20. HEXPOL AB

14.21. CHIMEI

14.22. INEOS Styrolution Group GmbH

14.23. Momentive Performance Materials Inc.

14.24. Chevron Phillips

14.25. Others


15. Assumptions and Research Methodology

15.1. Data Mining

15.2. Secondary Research

15.3. Primary Research

15.4. Subject Matter Expert Advice

15.5. Quality Check

15.6. Final Review

15.7. Data Triangulation

15.8. Bottom-Up Approach

15.9. Top Down Approach

15.10. Research Flow

15.11. Key Insights from Industry Experts

15.12. Data Applications

15.13. Assumptions

15.14. Limitations


16. Conclusions and Recommendations

16.1. Key Research Findings and Conclusion

16.2. Key Insights & Recommendations from Analysts

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Market Research Process




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To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

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In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

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Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.


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