OBCs sought as an alternative to elastomers like Styrene Block Copolymers (SBC). Further, OBCs are used along with Ethylene-Vinyl Acetate (EVA) in the form of blends and in foam applications. It can also be used as a replacement of EPDM in compounded thermoplastic olefins (TPO). OBCs are widely used as compatibilizer in PP/HDPE blends.
The global OBCs market is forecast to grow at a CAGR of 10.0% between 2017 and 2025. Asia-Pacific is the biggest market at global level in 2017 accounting for almost 67% of the global demand on account increase in athletic footwear market and shift of the footwear manufacturing from North America and Europe to Asia-Pacific regions like China, India, Vietnam, South Korea and other South East Asian Countries.
North America is estimated to account for 13.4% OBCs consumption at a global level while Western Europe s share is estimated to be around 10.8%. The other regions like Central & Eastern Europe, Central & South America and Middle East & Africa together account for 8.9%.
Key demand drivers for OBCs especially INFUSE OBCs have been their application in the footwear industries, hot melt adhesives (HMA) and pressure sensitive adhesives (PSA). In 2017, Footwear applications constituted the largest demand for OBCs accounting for nearly 50% of the total demand followed by adhesives applications accounting for around 27% of the total demand. Houseware applications accounted for about 11% of the total demand. All other applications including, infrastructure constituted about 5-8% each of the total demand.