Segments - Block Copolymers Market by Type (Styrene, Olefin, Polypropylene, Polyamide, Thermoplastic Polyurethane, Elastomer, and Others), Application (Adhesives & Sealants, Paints & Coatings, Bitumen Modification, Paving and Roofing, Packaging, Thermoplastic Blending, Wires & Cables, Medical Devices, Rubber, and Others), End-user (Construction, Automotive, Footwear, Chemicals, Healthcare, Electricals, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
The global block copolymers market size was USD XX Mn in 2022 and is likely to reach USD XX Mn by 2031, expanding at a CAGR of XX% during 2023–2031. Rising demand for high-performance and durable materials from various industries are expected to fuel the market .
A block copolymer is formed when the two monomers group together and form blocks. It refers to a polymer, which consists of molecules where a linear arrangement of blocks is present. Whereas, a block is part of a polymer molecule.
A block copolymer is composed of two or more than two different types of polymer chains that are covalently attached to each other. It is widely utilized as thermoplastic elastomers, drug delivery systems, and pressure-sensitive hot-melt adhesives, and recently has been studied for the use in the field of nano-patterning.
It is classified by the number of blocks each molecule contains. A block copolymer, which consists of two distinct blocks, is known as a diblock, with three blocks is known as a triblock, and with more than three blocks is known as a multiblock. Whereas, star-shaped block copolymers form when several linear chains are connected to a central core. Some arrangements are linear where blocks are linked end-to-end at a single junction through one of their ends.
Block polymers are advantageous as compared to other copolymers. It is widely used in the formulation of nanostructure materials, due to their amphiphilic characteristics. A crystalline polymer can be modified through block copolymers without significant reduction of its modulus, melting point, elastic properties, and tensile strength. Furthermore, high porosity and the versatility of morphology control make it suitable for membrane manufacture.
The market report finds that the COVID-19 pandemic affected the block copolymers market. A sharp decline in the demand from the end-use industries impeded the market. This shortfall is due to the lack of timely supply of products, owing to the emergency lockdown and traveling restrictions. Moreover, many manufacturing industries were temporarily shut down during the pandemic, due to labor shortages and a few companies have already announced possible delays in the delivery of products, which disrupted the overall supply chain of the market.
Increasing usage of block copolymers in various applications, owing to their superior advantages is a major factor driving the market. It has the ability to synthesize in a heterogeneous medium, as it maintains a low viscosity and good heat transfer, even at a high monomer conversion. Furthermore, stringent government regulations to decrease the use of PVC is likely to boost the demand for block copolymers.
Rapid expansion of the automobile industry is another major factor driving the market. Block copolymers are extensively used in the car parts such as seats, doors, airbags, tires, and vehicle wiring, as it replaces thermoset rubber and plastic. Growing requirement for high-performance lightweight materials to replace heavy parts, which is anticipated to fuel the demand for block copolymers in the coming years.
The wide availability of sustainable alternatives at low costs hinders the market. Thermoplastic elastomers (TPE) such as TPE-S, TPE-A, TPE-V, and TPE-O find their applications in the production of automotive parts, footwear, and construction materials, due to their excellent flexibility, which limits the use of block copolymers. Furthermore, fluctuations in the price of block copolymers restrain the market at a certain limit.
Rising research & development activities and increasing technological advancements in production techniques create immense growth opportunities in the market. Growing inclination toward eco-friendly polymers and several restrictions regarding the use of non-biodegradable polymers encouraged manufacturers to invest in research to develop a sustainable solution.
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Block Copolymers Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2022 |
Historic Data |
2016–2021 |
Forecast Period |
2023–2031 |
Segmentation |
Type (Styrene, Olefin, Polypropylene, Polyamide, Thermoplastic Polyurethane, Elastomer, and Others), Application (Adhesives & Sealants, Paints & Coatings, Bitumen Modification, Paving and Roofing, Packaging, Thermoplastic Blending, Wires & Cables, Medical Devices, Rubber, and Others), and End-user (Construction, Automotive, Footwear, Chemicals, Healthcare, Electricals, and Others) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
Key Players Covered in the Report |
Zeon Corporation; SINOPEC (China Petroleum & Chemical Corporation); LG Chem; Eastman Chemical Company; JSR Corporation; Asahi Kasei Corporation; BASF SE; Dow; Chevron Phillips Chemical Company LLC.; LCY Group; Kraton Performance Polymers; Kumho Petrochemicals Co.; Momentive; DuPont; The Lubrizol Corporation; and Mitsubishi Chemical Corporation |
Based on type, the block copolymers market is segregated into styrene, olefin, polypropylene, polyamide, thermoplastic polyurethane, elastomer, and others. The styrene segment is projected to register a considerable CAGR during the projection period, due to the rising demand from the automotive industry.
Styrene block copolymers are synthetic rubber-like compounds made by polymerizing styrene and butadiene. It has excellent abrasion resistance, chemical resistance, tensile strength, and heat aging stability, which makes it suitable for automotive applications. Therefore, it is often used for door seals and gaskets, due to its toughness.
The thermoplastic polyurethane segment is expected to grow at a significant pace, owing to the growing demand from the footwear industry, as it is widely used in the soles of shoes. Thermoplastic polyurethane is made up of hard and soft blocks in alternate sequences. The enhanced slip and abrasion resistance makes it an ideal material for the footwear industry. Rising demand for weather- and terrain-resistant shoes is likely to boost the segment.
On the basis of application, the market is segmented into adhesives sealants, paints & coatings, bitumen modification, paving and roofing, packaging, thermoplastic blending, wires & cables, medical devices, rubber, and others. The paints & coatings segment is anticipated to expand at a significant pace in the coming years. Polymer coating in paints enhanced durability, wettability, adhesion, wear resistance, and corrosion resistance. Increasing demand for paints or lube oils from automotive body shop repair operations is likely to fuel the market.
The paving and roofing segment is expected to grow at a rapid pace during the assessment period, due to the expansion of the construction industry across the globe. Rising road maintenance projects are likely to fuel the segment. Unhydrogenated block copolymers are added to asphalt to enhance the properties of roads. Styrene-butadiene-styrene (SBS) is a class of polymers, which is commonly used as a bitumen modifier in asphalt to enhance performance in paving and roofing.
Based on end-user, the market is divided into construction, automotive, footwear, chemicals, healthcare, electricals, and others. The automotive segment is projected to hold a large share of the in the coming years, due to the growing use of thermoplastic polyurethane and styrene block copolymers, owing to their anti-aging and scratch-resistant properties. The growth of the segment is attributed to the rising application in car interiors for adding aesthetic values and the growing adoption of luxurious cars.
The electrical segment is anticipated to expand at a high CAGR during the projection period. Block copolymer is used in electrical insulation, due to its high dielectric strength and good mechanical and chemical resistance property. Increasing requirement for electric power transmission and distribution equipment is likely to boost the segment.
In terms of region, the block copolymers market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to dominate the global market during the projected period, due to the increasing demand for high-performance materials from the footwear, automotive, and construction industries. Rising construction activities and spending on road maintenance projects are likely to boost the demand for block copolymers. Furthermore, rising industrialization in the region is estimated to create opportunities in the market.
The market in North America is expected to grow at a rapid pace during the projection period, due to the presence of a well-established industrial base. Rising investments in infrastructural development and rapid expansion of the automotive industry fuel the demand for advanced materials, which are likely to propel the market.
The block copolymers market has been segmented on the basis of
Key participants in the global block copolymers market are Zeon Corporation; SINOPEC (China Petroleum & Chemical Corporation); LG Chem; Eastman Chemical Company; JSR Corporation; Asahi Kasei Corporation; BASF SE; Dow; Chevron Phillips Chemical Company LLC.; LCY Group; Kraton Performance Polymers; Kumho Petrochemicals Co.; Momentive; DuPont; The Lubrizol Corporation; and Mitsubishi Chemical Corporation.
These companies use strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production expansion to expand their consumer base worldwide. For instance,