Company News | 2021-08-20 09:19:15
The styrenic block copolymers (SBCs) market size was estimated at over 2.3 million metric ton in 2020, and the market is projected to register a CAGR of below 4% during the forecast period (2021-2026).
The market was negatively impacted by COVID-19 in 2020. Considering the pandemic scenario, the building and construction activities were stopped temporarily during the lockdown in order to curb the spread of the new COVID-19 cases. For instance, according to Eurostat, the construction industry declined by 28.4% in the EU-19 countries and by 24% in the European Union (EU-27) countries, thereby witnessing a reduction in demand for styrene-butadiene-styrene (SBS) in roofing felt and shingle applications and SBC-based adhesives and sealants in different construction activities. However, the demand for SBC-based medical bags, containers, tubings, medical beds, and others had been increased during the pandemic situation, thereby enhanced the demand for the market studied.
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