South Korea Styrenic Block Copolymer Market Size & Outlook
South Korea styrenic block copolymer market, 2018-2030 (US$M)
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South Korea styrenic block copolymer market highlights
- The South Korea styrenic block copolymer market generated a revenue of USD 596.9 million in 2023 and is expected to reach USD 914.1 million by 2030.
- The South Korea market is expected to grow at a CAGR of 6.3% from 2024 to 2030.
- In terms of segment, styrene-butadiene-styrene (sbs) was the largest revenue generating product in 2023.
- Styrene-Butadiene-Styrene (SBS) is the most lucrative product segment registering the fastest growth during the forecast period.
Styrenic block copolymer market data book summary
| Market revenue in 2023 | USD 596.9 million |
| Market revenue in 2030 | USD 914.1 million |
| Growth rate | 6.3% (CAGR from 2023 to 2030) |
| Largest segment | Styrene-butadiene-styrene (sbs) |
| Fastest growing segment | Styrene-Butadiene-Styrene (SBS) |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Styrene-Butadiene-Styrene (SBS), Styrene-Isoprene-Styrene (SIS), Styrene-Ethylene-Butylene-Styrene (SEBS), Styrene-ethylene-propylene-styrene (SEPS) |
| Key market players worldwide | Zeon Corp, Asahi Kasei Corp, Sinopec Oilfield Service Corp Class H, INEOS, JSR Corp, Kumho Petrochemical, Denka Co Ltd, Kuraray Co Ltd, Dynasol Group, LG Chem, CHIMEI, Sibur, TSRC, LCY Group, Kraton Performance Polymers, Versalis |
Other key industry trends
- In terms of revenue, South Korea accounted for 7.0% of the global styrenic block copolymer market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China styrenic block copolymer market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,403.4 million by 2030.
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Styrenic Block Copolymer Market Scope
Styrenic Block Copolymer Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea styrenic block copolymer market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to styrenic block copolymer market will help companies and investors design strategic landscapes.
Styrene-butadiene-styrene (sbs) was the largest segment with a revenue share of 35.97% in 2023. Horizon Databook has segmented the South Korea styrenic block copolymer market based on styrene-butadiene-styrene (sbs), styrene-isoprene-styrene (sis), styrene-ethylene-butylene-styrene (sebs), styrene-ethylene-propylene-styrene (seps) covering the revenue growth of each sub-segment from 2018 to 2030.
The country is a key hub for manufacturing electronics with high demand for SBCs in applications, such as cables, displays, and other electrical components. SBCs offer high heat resistance, flame retardancy, and flexibility, making them suitable for use in electrical products.
Manufacturers are continuously adopting several strategic initiatives, including expansions and mergers and acquisitions, to expand their portfolio, thus further boosting market growth. For instance, in March 2022, DL Chemical Co., Ltd., one of the leading chemical companies headquartered in South Korea, acquired the full stake of Kraton Corp. with an investment of USD 2.5 billion.
With this acquisition, Kraton has become a part of DL Chemical Co., Ltd. and operates as a wholly-owned subsidiary of DL Chemical. This acquisition is expected to help DL Chemical secure additional original technology through technology development and expand its investment to establish a new materials industry ecosystem and aid both companies in achieving their goals of becoming global leaders in specialty chemicals.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea styrenic block copolymer market , including forecasts for subscribers. This country databook contains high-level insights into South Korea styrenic block copolymer market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea styrenic block copolymer market size, by product, 2018-2030 (US$M)
South Korea Styrenic Block Copolymer Market Outlook Share, 2023 & 2030 (US$M)
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