The Latest Styrene Butadiene Styrene Industry Statistics Explained
The global styrene butadiene styrene (SBS) industry was valued at USD 4.39 billion in 2019.
The statistic “The global styrene butadiene styrene (SBS) industry was valued at USD 4.39 billion in 2019” signifies the total worth of the SBS industry worldwide during the year 2019. This figure represents the combined value of all goods and services produced within the SBS industry on a global scale. The valuation of USD 4.39 billion gives insight into the economic significance and size of the SBS industry, indicating its importance and contribution to the global economy. Analyzing this statistic further can provide valuable information on market trends, industry growth, and financial performance within the SBS sector, helping stakeholders make informed decisions and set future strategies.
The industry is projected to expand at a CAGR of 7.3% from 2020 to 2027.
This statistic indicates that the industry is forecasted to experience consistent growth over the period from 2020 to 2027, with a Compound Annual Growth Rate (CAGR) of 7.3%. The CAGR represents the average annual growth rate that would produce the final value if growth remained steady over the entire period. In this case, a CAGR of 7.3% suggests that the industry is expected to expand by this percentage each year from 2020 to 2027. This projection highlights a positive outlook for the industry in the coming years, indicating a solid growth trajectory that can be used by investors, businesses, and policymakers for strategic planning and decision-making.
Adhesives segment held the largest revenue share of more than 30% in 2019.
The statistic ‘Adhesives segment held the largest revenue share of more than 30% in 2019’ suggests that within a particular market or industry, the category pertaining to adhesives generated the highest revenue compared to other product segments. Specifically, the adhesives segment accounted for over 30% of the total revenue in the market for the year 2019, indicating its significant importance and popularity among consumers or businesses. This statistic highlights the strong demand for adhesive products during that period and underscores the potential impact and influence of the adhesives segment on the overall financial performance and dynamics of the market.
The paving and roofing segment was estimated to exhibit the highest CAGR of 8.1% from 2020 to 2027.
This statistic indicates that the paving and roofing segment is projected to experience the highest Compound Annual Growth Rate (CAGR) of 8.1% from 2020 to 2027. A high CAGR implies that this particular segment is expected to grow rapidly over the given time period. This growth rate suggests an increasing demand for paving and roofing services or products, which could be driven by factors such as infrastructure development, urbanization, and increasing construction activities. Businesses operating within this segment may have significant opportunities for expansion and profitability, making it an attractive area for investment and market positioning.
In terms of volume, Asia Pacific dominated the market with a share of over 70% in 2019.
This statistic indicates that in 2019, the Asia Pacific region had the highest market share in terms of sales volume compared to other regions. Specifically, Asia Pacific accounted for more than 70% of the total volume of products sold in the market during that year. This dominance suggests that this region was a key player in the market, likely driven by factors such as a large population, growing economies, and increasing consumer demand. Companies operating in this market may need to pay close attention to the dynamics and trends in the Asia Pacific region to be successful in their strategic planning and decision-making processes.
China is one of the leading consumers of SBS due to high product demand in paving, footwear, and advanced materials applications.
This statistic indicates that China plays a significant role in the consumption of Styrene Butadiene Styrene (SBS), a commonly used synthetic rubber, as a result of the country’s substantial demand for the product in various industries such as paving, footwear, and advanced materials applications. The high consumption of SBS in China suggests a strong market for this material, driven by the country’s growing infrastructure development, expanding footwear industry, and increasing demand for advanced materials in sectors ranging from automotive to construction. As one of the leading consumers of SBS, China’s consumption patterns reflect its industrial and economic activities, highlighting the country’s importance in the global market for SBS products.
Europe is the second-leading consumer due to rising demand in several industrial applications.
The statistic that “Europe is the second-leading consumer due to rising demand in several industrial applications” suggests that Europe is a significant consumer in terms of certain products or resources. The use of the term “second-leading consumer” indicates that Europe falls in second place in terms of consumption, highlighting its considerable share of the market. The reference to “rising demand in several industrial applications” implies that Europe’s consumption levels are increasing, likely driven by various industries within the region. Overall, this statistic portrays Europe as a notable player in consumption patterns, particularly in industrial sectors experiencing growing demand for their products or services.
The SBS market in South America is anticipated to register a CAGR of 7.5% from 2020 to 2027.
This statistic indicates that the South America SBS (Styrene-Butadiene-Styrene) market is expected to experience a Compound Annual Growth Rate (CAGR) of 7.5% over the period from 2020 to 2027. This forecast suggests that the demand for SBS in South America, a key material used in the production of various products such as adhesives, sealants, and asphalt modification, is projected to steadily increase at an annual average rate of 7.5%. The consistent growth trajectory indicated by this statistic implies potential opportunities for market expansion, investment, and development within the SBS industry in South America over the specified time frame.
More than 60% of SBS manufactured is used in paving and roofing applications due to its durability and resistance to weather.
The statistic indicates that a significant majority, specifically more than 60%, of SBS (Styrene-Butadiene-Styrene) manufactured is utilized in paving and roofing applications because of its exceptional durability and resistance to weather conditions. This suggests that SBS, a type of polymer material, is a popular choice for construction materials in these industries due to its ability to withstand wear and tear, as well as exposure to various weather elements such as sunlight, rain, and temperature fluctuations. The statistic highlights the practical advantages of using SBS in paving and roofing applications, emphasizing its reliability and long-lasting performance in these specific contexts.
SBS use in footwear is expected to witness a CAGR of 7.1% from 2020 to 2027.
This statistic indicates that the usage of sustainable bio-based materials (SBS) in footwear is projected to grow at a compound annual growth rate (CAGR) of 7.1% from 2020 to 2027. This growth rate suggests a steady increase in the adoption of SBS in the footwear industry over the specified time period. The CAGR reflects the annualized rate of growth, providing insight into the sustained momentum and potential market expansion for sustainable bio-based materials within the footwear sector. This trend signifies a shift towards more environmentally friendly and socially responsible practices in the industry, as companies seek to incorporate sustainable materials into their products to meet consumer demand for eco-conscious options.
Conclusion
Based on the statistics presented in this blog post, the Styrene Butadiene Styrene industry is a thriving sector with promising growth potential. The data highlights key trends, market insights, and opportunities for stakeholders to capitalize on. It is evident that the industry is poised for further expansion and innovation in the coming years.
References
0. – https://www.www.grandviewresearch.com
