Thermoplastic Elastomers:
Thermoplastic elastomers are a major segment within the styrenic block copolymer market. These materials have a unique combination of elastomeric and thermoplastic properties, making them versatile and suitable for a wide range of applications. One of the sub-segments in this category is Styrene-Butadiene-Styrene (SBS) block copolymers. SBS is widely used in the footwear industry for the production of flexible and durable soles due to its excellent elasticity and impact resistance. Its high processability and ability to adhere to various substrates make it an ideal material for shoe manufacturing.
The styrenic block copolymer market comprises several prominent players competing to gain a significant market share. These players are focused on strategies such as mergers and acquisitions, partnerships, and product innovations to expand their product portfolios and strengthen their market presence. Some of the key players in the market include BASF SE, Kraton Corporation, LG Chem Ltd., Sinopec Group, and Covestro AG. These companies are continuously investing in research and development activities to develop advanced styrenic block copolymers capable of meeting the evolving market demands.