Styrene Isoprene Styrene (SIS) Market Size, Share, Growth, And Industry Analysis By Type (Linear, Radial, Others) By Application (Flexi-Printing Plate, Film, Hygiene, Labels, Tapes, Others), Regional Forecast To 2032

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STYRENE ISOPRENE STYRENE (SIS) MARKET REPORT OVERVIEW

Global styrene isoprene styrene sis market size was USD 1.59 Billion in 2023 and market is projected to touch USD 2.61 Billion by 2032, exhibiting a CAGR of 5.7% during the forecast period.

Styrene-isoprene-styrene (SIS) is a thermoplastic elastomer (TPE) utilised in a variety of applications such as adhesives, sealants, and coatings. It is a block copolymer composed of three segments: hard polystyrene, soft isoprene, and another hard polystyrene. The mix of hard and soft blocks gives SIS its distinctive qualities, including as low-temperature elasticity and flexibility, high tensile strength, and excellent clarity.

Traditional thermoplastic processing methods such as injection moulding, extrusion, and blow moulding can be used to process it. Because of its similar qualities and reduced cost, it is frequently used as a substitute for natural rubber. It's also utilised in the production of pressure-sensitive adhesives, shoe soles, and soft touch grips.

Several reasons are driving the SIS market, including rising demand for SIS-based products in various end-use industries such as automotive, construction, packaging, and healthcare. SIS's distinct features, including as good elasticity and flexibility at low temperatures, great clarity, and high tensile strength, make it an appealing material for a wide range of applications. Technological developments in SIS manufacturing techniques and product development have also contributed significantly to the market's growth.

Furthermore, because SIS is less expensive than natural rubber, it has grown in popularity as a substitute material. Furthermore, the growing tendency in industry towards sustainability and eco-friendliness has resulted in the development of bio-based SIS, which is likely to rise significantly in the next years.

COVID-19 IMPACT

"COVID-19 outbreak leading Construction spending cuts may impede production"

The impact of the pandemic on SISs varies by industry, including construction, automotive, medical, and hygiene. During the pandemic, sectors including as medical, hygiene products, and food packaging are predicted to increase rapidly, boosting the industry. The widespread shutdowns to reduce the spread of COVID-19 are anticipated to have a negative impact on the building industry. Projects that are permitted to continue would be impacted indirectly. Construction materials are transported from countries fighting COVID-19, many of which have closed factories to tackle the pandemic. The global styrene Isoprene styrene market has suffered as a result of the COVID-19 epidemic. This is due to the market's supply-demand imbalance. The outbreak caused a global oil price slump, with oil prices falling to - USD 37/barrel. This resulted in an abundance of raw materials for the synthesis of styrene Isoprene styrene, with little to no demand. Travel restrictions and city lockdowns around the world resulted in reduced demand for styrene Isoprene styrene goods.

LATEST TRENDS

"The Automotive Industry's Consistent Growth Is a Prominent Trend"

According to the Economist Intelligence Unit Limited, the global automotive sector will rise by double digits in 2021. New automobile sales will climb by 15% in 2021, while commercial vehicle sales will increase by 16% in the same year. Electric vehicle sales will increase from 2.5 million in 2020 to 3.4 million in 2021. Thermoplastic elastomers (TPEs) are employed in a wide range of applications in several sectors, each with its own set of criteria. They are utilised not just for control components in vehicle interiors, but also for external window encapsulations and under-the-hood seals.

STYRENE ISOPRENE STYRENE (SIS) MARKET SEGMENTATION

By Type Analysis

According to type, the market can be segmented into Linear, Radial, Others. Linear is anticipated to be the leading segment.

By Application Analysis

Based on application, the market can be divided into Flexi-Printing Plate, Film, Hygiene, Labels, Tapes, Others. Flexi-Printing Plate will be dominating segment.

DRIVING FACTORS

"Rising applications and improved qualities may fuel market expansion"

With continued R&D efforts aimed at improving SIS qualities and increasing its applications, innovation has been a fundamental driver of growth in the SIS industry. The development of bio-based SIS, which is created from renewable resources and has a lesser environmental impact than regular SIS, has been a major area of innovation. This has created new potential in the market for bio-based SIS, which is likely to grow rapidly in the future. Furthermore, new SIS formulations with improved features, such as higher heat resistance and stickiness, are enabling new uses in high-temperature adhesives, automotive parts, and medical devices. Meanwhile, advances in processing technology are increasing the efficiency and cost-effectiveness of SIS manufacturing, resulting in better throughput rates and higher product quality.

"Increased demand for styrene isoprene styrene leading market expansion"

One of the primary factors driving the growth of the styrene isoprene styrene (SIS) market is global industrialisation. Increased demand for styrene isoprene styrene (SIS) liner and radial kinds, as well as expansion in end-use industries, drive market growth. The market is further influenced by the increased strength and low viscosity of SIS, as well as its widespread use in applications such as labels, tapes, flexi-printing plates, and others. Furthermore, research and development activities, an increase in investment, and the widespread use of SIS in adhesives all benefit the styrene isoprene styrene (SIS). Furthermore, research and development operations provide attractive prospects to market participants from 2023 to 2032.

RESTRAINING FACTORS

"Price fluctuations may stifle market growth"

The price of oil has become extremely volatile. It has had an impact on the cost of thermoplastic elastomers. The price of Isoprene, the main raw ingredient used in the product's production, has fluctuated due to the volatility of oil prices. As a result, the SBC price would be highly volatile. The price of crude oil, on the other hand, has a direct impact on the price of SBC. Because main raw ingredients such as benzene, ethylene, and propylene are primarily derived from crude oil derivatives, variations in crude oil prices have a significant impact on the pricing of the completed product.

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STYRENE ISOPRENE STYRENE (SIS) MARKET REGIONAL INSIGHTS

"Asia Pacific region will dominate the market during forecast period "

In 2020, the Asia Pacific market was worth USD 3,128.2 million. Due to the exponential population increase in nations such as China and India, the region dominated the market. The region's building industry is likely to be driven by the region's strong demand for cheap homes and government systems that provide basic necessities such as food and shelter. Furthermore, stricter legislation and increased consumer awareness of carbon emissions will boost the construction of green buildings, a major end-user of renewable and lightweight products like SBIC.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Top Styrene Isoprene Styrene (Sis) Companies

• Kraton (U.S.)
• Sinopec (China)
• LCY (Taiwan)
• TSRC (Taiwan)
• Versalis (Italy)
• Jusage (U.K.)
• Zeon (Japan)
• Jinhai Chenguang(China)

REPORT COVERAGE

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.