Olefinic Block Copolymers Market Overview
The global Olefinic Block Copolymers market was valued at USD 1.3 billion in 2022, is forecast to grow at a CAGR of 8.5% to cross USD 1.7 billion during forecast period. Olefin Block Copolymers (OBCs) were developed back in 2006. INFUSE OBCs were brought into commercial production in 2008. OBCs are composed of alternating hard and soft segments arranged in a linear fashion that provide them with elastomeric properties. This composition and property is generic to elastomers. The hard segment can be crystalline or semi crystalline in nature and is composed of either polyethylene or polypropylene. The soft segments which are amorphous in nature consist of polymers of ethylene and an alpha olefin (Octene-1). These block copolymers offer better properties than random copolymers based on olefins. The crystallinity and density of the polymer is dictated by its composition and its molecular weight distribution. Moreover, OBCs are different from other block copolymers due to the fact that the polymer chain consists of a distribution of number of blocks and block lengths rather than having fixed number of blocks of similar compositions.
Key Market highlights for Olefinic Block Copolymers market Market
Gradually, OBCs are replacing other thermoplastic elastomers such as SBC and TPUs in various applications. This market research provides an overview of the global Olefinic Block Copolymers market, with a specific focus on key countries and their respective demand across different application sectors. The study encompasses demand analysis for regions, including North America, Western Europe, Central & Eastern Europe, South America, Asia-Pacific, and Middle East & Africa. The major countries covered in this study comprise the U.S., Germany, France, Italy, U.K., China, Japan, India, and South Korea. The market segmentation is based on applications such as footwear, adhesives, houseware, infrastructure, and other sectors.
Olefinic Block Copolymers Demand Overview
The global Olefinic Block Copolymer Market is projected to grow at a CAGR of 8.5% to reach USD 1.7 billion by 2025 from the current market size of USD 1.3 billion. Factors such as increasing demand from the footwear industry, particularly in the Asia Pacific region, will drive the Olefinic Block Copolymers demand in the forecast period. The application of Olefinic Block Copolymers, particularly INFUSE OBCs, in the footwear industry, as well as in hot melt adhesives and pressure-sensitive adhesives, has been a key factor driving their demand. In 2022, footwear applications constituted the largest share accounting for more than 50% of the total global Olefinic Block Copolymers demand, followed by adhesive applications accounting for over one-fourth of the total demand. Houseware applications accounted for nearly 10% of the total demand. All other applications, including infrastructure together accounted for less than 10% each of the global Olefinic Block Copolymers demand. The global olefinic block copolymer market in the footwear industry is anticipated to witness significant growth in the forecast period. Factors such as the rising demand for lightweight and comfortable footwear will drive the adoption of OBCs in the industry.
Olefinic Block Copolymers Demand by Region
Asia Pacific is the largest market for OBCs, accounting for more than 60% of the global Olefinic Block Copolymers demand. The region backed by major footwear manufacturing countries such as China, India, Vietnam, and Indonesia, dominates the global footwear market. North America and Western Europe together accounted for around . The other regions like Central & Eastern Europe, Central & South America, and Middle East & Africa together accounted for the remaining share. Asia Pacific is projected to witness the highest growth 25% of the global Olefinic Block Copolymers market. The other regions like Central & Eastern Europe, Central & South America, and Middle East & Africa together accounted for the remaining share. Asia Pacific is projected to witness the highest growth in the forecast period, owing to the presence of a strong footwear manufacturing base and the shift of manufacturing industries from mature markets to Asia Pacific.