Styrenic Block Copolymers (SBC) Plastics Demand for Medical Applications is Expected to Reach USD 698.8 Million in 2018: Transparency Market Research
Albany, New York (PRWEB) March 11, 2013
In terms of revenues, the Styrenic Block Copolymers market is expected to reach USD 698.8 million by 2018, growing at a CAGR of 7.2% from 2012 to 2018. Demand for SBCs in the medical industry is primarily driven by a growing trend of replacing PVC products by SBCs, primarily due to health and environmental issues related with PVC usage. However, volatility in raw material prices has emerged as a critical challenge to SBC producers worldwide.
Increasing R&D in bio-based SBC plastics is expected to herald the most promising opportunity in the market; bio-based SBCs along with being environment friendly are also economically feasible against their synthetic counterparts.
Styrene Ethylene Butylene Styrene (SEBS) is the most dominant SBC product consumed by the medical and healthcare industry and accounted for over 68% of total medical SBC volumes in 2011. SEBS is primarily used for manufacturing medical bags (including IV, CAPD and blood bags) and other flexible materials in the medical industry. SEBS is also the fastest growing type of SBC used in the medical sector.
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North America is the leading consumer for medical SBCs and accounted for 38.7% of the global demand in 2011, it is followed by Europe as the second-largest consumer. The growth in North America is primarily driven by the increasing medical expenditure by the federal government in the U.S. Asia Pacific is the fastest growing market for SBCs, and is expected to grow at a CAGR of 7.2% from 2012 to 2018.
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Some of the leading companies operating in the global market include Sinopec, Kraton, LCY Chemical, Dynasol, TSRC, LG Chemicals, PolyOne Corporation and so on. Major medical device manufacturers in the market include big multinational companies such as Johnson & Johnson, Siemens Healthcare, GE Healthcare, Baxter International, Medtronic, Covidien and so on.
Browse the full report with TOC at http://www.transparencymarketresearch.com/styrenic-block-copolymers.html
The report estimates and forecasts the global demand for SBCs in the medical industry in terms of both volumes and revenues from 2011 to 2018. The demand for various types (SEBS, SBS and other SBCs) of SBC is analyzed from 2011 to 2018. The report also includes the demand for SBC based on various medical applications.
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