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Medical Styrenic Block Copolymer Market size to surpass USD 1.2 billion by 2032

  • Published Date: December 7, 2022

Medical Styrenic Block Copolymer Market size is anticipated to be worth over USD 1.2 billion by 2032, as per a recent research report announced by Global Market Insights Inc.

Based on the analysis, the increased emphasis on minimizing the use of PVC-based materials in medical devices and equipment will augment the demand for styrenic block copolymers across the medical sector.

PVC is widely integrated in a range of medical devices, such as gloves, nasal cannulas, catheters, enteral feeding devices, IV & blood bags, breathing circuits, oxygen masks, surgical gowns, blood bags, medical tubing, etc., due to its high durability, strength, flexibility, and ability to operate under high temperatures and harsh environments. The material is known for its superior biocompatibility, ease of processing, recyclability, resilience, and affordability.

However, the escalating efforts toward evaluating more biologically and environmentally friendly polymers have resulted in the emergence of several high-performance alternatives such as Styrene-ethylene butylene-styrene (SEBS) copolymer rubbers, SEBS/polypropylene blends, etc. The ongoing replacement of low-durometer, plasticized PVC in medical devices where biocompatibility holds utmost significance will positively influence the medical styrenic block copolymer through 2032.

Styrene-Butadiene-Styrene to gain traction due to exceptional durability

Styrene-Butadiene-Styrene (SBS) segment is expected to amass more than USD 460 million by 2032, depicting a more than 6% CAGR throughout the projection period. Styrene-Butadiene-Styrene exhibit similar properties to that of rubber at room temperature and thus are primarily used in applications where high durability is critical. Styrene-Butadiene-Styrene (SBS) is also extensively utilized in a range of medical devices, pharmaceutical packaging, medical bags, and tubes, driven by its easy availability, superior durability, and low-cost attributes, creating favorable growth prospects for the medical styrenic block copolymer market.

Browse key industry insights spread across 240 pages with 167 market data tables and 40 figures & charts from the report “Medical Styrenic Block Copolymers (SBC) Market Size By Product (SBS, SIBS, SEBS), By Application (Tubing, Medical Bags, Equipment’s, Packaging & Diagnostics Products, Wound Care), Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:

Increasing minimally invasive surgeries to propel product demand in tubing applications

Speaking of the application landscape, Medical Styrenic Block Copolymer Market from tubing application is primed to showcase above 6.5% CAGR from 2023 to 2032 and reach over USD 150 million by 2032. Medical tubing made of SBC depicts exceptional mechanical, thermal, and chemical properties and better clarity than PVC. These offer low drug absorption and are used in a variety of peristaltic pumps, drug delivery systems, and feeding tubes. Besides, their increasing usage in highly critical minimally invasive procedures, such as urological retrieval devices, cardiovascular catheters, stent delivery systems, etc.

Flourishing economic outlook to streamline industry growth across Asia Pacific

Asia Pacific medical styrenic block copolymer market is speculated to garner over USD 200 million by 2032. The regional growth can be credited to the robust economic landscape and a significant rise in disposable incomes, resulting in increased healthcare expenditure. Governments across numerous regional economies, including China, the Philippines, India, and Indonesia, have been emphasizing offering low-cost healthcare services, accelerating the demand for medical devices and equipment.

Footprint expansion to stimulate the competitive outlook

Major companies operating in the medical styrenic block copolymer market include Kraton Corporation, TSRC Corporation, China Petroleum & Chemical Corporation, LG Chem, Dynasol Group, Asahi Kasei Corporation, Kumho Petrochemical, LCY Chemical Corp, INEOS Styrolution Group GmbH, JSR Corporation, RTP Company, Zeon Corporation, En Chuan Chemical Industries Co., Ltd., and Trinseo SA.

Authors: Kiran Pulidindi, Kunal Ahuja

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