Styrene Market to Grow at a CAGR of 5.64% by 2030 | ChemAnalyst

 According to ChemAnalyst report, “Global Styrene Market Analysis: Plant Capacity, Production, Process, Technology, Operating Efficiency, Demand & Supply, End-Use, Foreign Trade, Sales Channel, Regional Demand, Company Share, 2015-2030”. Styrene market witnessed a demand of around 30 million tons globally in 2021 and is anticipated to grow at a significant rate with a healthy CAGR of 5.64% until 2030 owing to its surging demand from the packaging industry.

Styrene is a colorless to pale yellowish in color and is flammable, highly volatile, oily liquid with a pleasant smell. Styrene is a derivative of Benzene and produced commercially by the alkylation of Benzene with Ethylene where Ethylbenzene is produced as an intermediate which is further dehydrogenated to form the chemical compound. Mainly there are three technologies to produce Styrene which are EB/PO Technology, Versalis XSBR Technology, and EBMax SM1 Technology. Styrene finds application in manufacturing latex, synthetic rubbers and polystyrene resins which are further utilized in making insulations, disposable cutlery, food containers, pipes, plastic packaging material, automobile units, electronics parts, printing cartridges, etc.

Read Full Report Here:

On the basis of the derivatives of Styrene, its market is segmented into several types such as Polystyrene (PS), Acrylonitrile-Butadiene-Styrene (ABS), Unsaturated Polyester Resins (UPR), Styrene-Butadiene Rubber (SBR), and Others. Polystyrene holds the major demand share of market, globally as Polystyrene is one of the most used thermoplastic resins prominently used in the packaging sector, Polystyrene is further classified into various types such as High Impact Polystyrene (HIPS), General Purpose Polystyrene (GPPS), Expandable Polystyrene (EPS), and Extruded Polystyrene (XPS) which are further utilized in numerous applications in major end use industries such as Packaging, Electronics, Building & Construction, Healthcare and Consumer goods. Surging demand for Polystyrene from the packaging industry is likely to drive the demand for the chemical compound in the forthcoming years.

Additionally, Acrylonitrile-Butadiene-Styrene (ABS), the other derivative of Styrene finds major applications in the Automotive, Construction, Electricals and Electronics, and Household industries. Similarly, Unsaturated Polyester Resins (UPR) and Styrene Butadiene Rubber are prominently utilized in automotive, construction, and Polymer industries. Hence, growth in any of these end-use industries is likely to fuel the market over the forecast period. However, the health and environmental hazards associated with Styrene may hamper its market growth in the forecast period.

The global Styrene market is segmented based on end-use, sales channel, and region. The major end use industries of the chemical compound based on its applications are Automobile, Packaging, Construction, Consumer Goods, and Others. Among these Packaging holds the largest market share globally and is anticipated to remain the same in the forecast period.

Region wise, Asia Pacific holds the maximum demand share of the Styrene market and is expected that its market would grow at a promising pace through 2030 owing to rapid industrialization, urbanization, and huge consumer base in the region coupled with the ongoing construction projects and growing automobile sector in the region. Additionally, China is the leading producer of electronics and consumer goods coupled with the second leading producer of packaging material, which is likely to fuel the market in the forecast period.

Book A Demo Online Request: Styrene Market Analysis Report

According to ChemAnalyst report, “Global Styrene Market Analysis: Plant Capacity, Production, Process, Technology, Operating Efficiency, Demand & Supply, End-Use, Foreign Trade, Sales Channel, Regional Demand, Company Share, 2015-2030”, Major players for Styrene globally are Hanhwa- Total JV, Shell Global, SIBUR, Fermosa Chemical & Fibre Corporation, LyondellBasell, PJSC Lukoil Oil Company, SADAF (Petrokemia), Zhejiang Petrochemical, Trinseo, INEOS Styrolution, Changzhou New Solar Chem, and Samsung Total Petrochemical.

“Styrene is as a highly used chemical commodity, that is cost effective and easy to process. Styrene is also used to Polymerized, copolymerize or blend with other polymers to form products with superior properties like Polystyrene (PS), Styrene-butadiene rubber (SBR), Acrylonitrile butadiene styrene (ABS), Styrene-acrylonitrile resin, Styrene-acrylonitrile resin, poly(styrene-co-acrylonitrile), Unsaturated Polyester Resins etc. All these Polymers have improved properties such as heat and chemical resistance, high impact resistance, UV stability, abrasion resistance, durability, and superior dimensional stability which made them material of choice for a wide range of applications. Owing to these properties, a surge in the demand of these polymers is anticipated drive the market for Styrene through the forecast period and offer several opportunities for manufacturers to expand their capacities to fill demand and supply gap in future.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.

About Us: 

ChemAnalyst is a subsidiary of Techsci Research, which was established in 2008, and has been providing exceptional management consulting to its clients across the globe for over a decade now. For the past four years, ChemAnalyst has been a prominent provider of Chemical commodity prices in more than 15 countries. We are a team of more than 100 Chemical Analysts who are committed to provide in-depth market insights and real-time price movement for 300+ chemical and petrochemical products. ChemAnalyst has reverberated as a preferred pricing supplier among Procurement managers and Strategy professionals worldwide. On our platform, we provide an algorithm-based subscription where users can track and compare years of historical data and prices based on grades and incoterms (CIF, CFR, FOB, & EX-Works) in just one go.

The ChemAnalyst team also assists clients with Market Analysis for over 1200 chemicals including assessing demand & supply gaps, locating verified suppliers, choosing whether to trade or manufacture, developing Procurement Strategies, monitoring imports and exports of Chemicals, and much more. The users will not only be able to analyze historical data for past years but will also get to inspect detailed forecasts for the upcoming years. With access to local field teams, the company provides high-quality, reliable market analysis data for more than 40 countries.

ChemAnalyst is your one-stop solution for all data-related needs. We at ChemAnalyst are dedicated to accommodate all of our world-class clients with their data and insights needs via our comprehensive online platform.

Contact Us:

Manvi Goyal

B-44 Sector-57 Noida,

National Capital Region

Tel: 0120-4523990

Mob: +91-8882805349

Email: [email protected]


Showing 1 reaction

Please check your e-mail for a link to activate your account.
  • Ganesh Kumar
    published this page in Submit Content 2023-04-04 02:21:00 -0700