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Asia Pacific Sbc And Its Derivatives Market Forecast 2020-2028

The Asia Pacific SBC and its derivatives market is anticipated to register a CAGR of 6.70% in terms of revenue over the estimated period of 2020-2028. Further, the market is evaluated to register a CAGR of 5.58% in terms of volume during this period. The dominance of China in footwear manufacturing is one of the primary factors propelling the demand for SBC in the region. The prevailing healthy economic conditions are expected to boost the growth of the market.

The SBC and its derivatives market is surveyed further by segmenting the region into India, Thailand, Vietnam, Japan, Australia & New Zealand, China, Indonesia, South Korea, and the rest of Asia Pacific. South Korea is a highly export-oriented country. The country has seen significant growth in terms of investments and R&D activities in the 3D printing sector since 2016. The government is planning to develop various 3D printing businesses and create a transition in the manufacturing industry soon. In Thailand, the first 3D printed house was made through a collaboration between the Siam Cement Group and an Italian company WASP. The upcoming construction activities in Thailand are expected to drive the market.
In countries like Indonesia, as per Cekindo, building, and construction sector is one of the critical sectors that support the country's economic growth. The flourishing construction sector made the Indonesian economy grew by 5.01% in 2017. In Vietnam, the construction industry has made a remarkable development of increasing 8.5% per year over the last ten years, which will continue as a result of the government's efforts to improve the quality of infrastructure. In the rest of the Asia Pacific, the emergence of bio-based alternatives for synthetic SBCs is one of the contributing factors to the growth of the market. Increasing competition, advancement in technology, and rising raw material prices are factors augmenting the innovation in the region.

Asahi Kasei Corporation, Denka Co. Ltd, Kumho Petrochemicals Co. Ltd, Sinopec (China Petrochemical Group Co. Ltd), LCY Group, etc. are some of the distinguished companies operating in the market.

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Asia Pacific Sbc And Its Derivatives Market Forecast 2020-2028
Published By :Inkwood Research
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