Global Styrene Market By Product Type (Polystyrene (PS), Expanded polystyrene (EPS), Acrylonitrile butadiene styrene (ABS)), End User (Packaging, Construction, Consumer Goods, Automotive, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
The styrene market is expected to witness market growth at a rate of 3.14% in the forecast period of 2021 to 2028. Data Bridge Market Research report on styrene market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in the end-user application industries such as automotive and construction is escalating the growth of aviation analytics market.
Styrene can be referred to as a colourless, gritty organic compound that is derived from benzene. Styrene is readily dispersed and is also utilized as a predecessor to polystyrene and various other copolymers. Styrene is utilized to manufacture polystyrene through the suspension of polymerization. Styrene is a fragrant liquid that is applied for creating synthetic resins, plastics, rubber and refining drying oils.
Major factors that are expected to boost the growth of the styrene market in the forecast period are the rise in the consumer electronics sector. Furthermore, the growing of the need for general-purpose and high-impact polystyrene is also the reason anticipated to propel the growth of the styrene market. Moreover, the rise in the need for polystyrene in the automobile industry because of its application such as manufacturing of car knobs, instrument panels, trim, energy absorbing door panels and sound dampening foam which in turn is further estimated to cushion the growth of the styrene market.
On the other hand, the rise in the concerning issues regarding to health and environmental because of the utilization the usage of styrene and the affects of the COVID-19 pandemic outbreak is further estimated to impede the growth of the styrene market in the timeline period. In addition, the rise in the packaging and construction industries will further provide potential opportunities for the growth of the styrene market in the coming years. However, the decrease in the automotive sector might further challenge the growth of the styrene market in the near future.
This styrene market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on styrene market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Styrene Market Scope and Market Size
The styrene market is segmented on the basis of product type and end user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of product type, the styrene market is segmented into polystyrene (PS), expanded polystyrene (EPS), acrylonitrile butadiene styrene (ABS).
- On the basis of end user, the styrene market is segmented into packaging, construction, consumer goods, automotive, others.
Styrene Market Country Level Analysis
The styrene market is analysed and market size, volume information is provided by country, type and end user as referenced above.
The countries covered in the styrene market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the styrene market due to the rise in the strong food packaging industry. Furthermore, the expansion of disposable culture will further boost the growth of the styrene market in the region during the forecast period. North America is projected to observe significant amount of growth in the styrene market due to the occurrence of major key players. Moreover, the rise in the adoption styrene is further anticipated to propel the growth of the styrene market in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Styrene Market Share Analysis
The styrene market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to styrene market.
The major players covered in the styrene market report are Chevron Corporation., SABIC, Total, Dow, DSM, NOVA Chemicals, Bayer AG, Ashland, Alpek S.A.B. de C.V., Trinseo, Covestro AG, Synthos, Total Petrochemicals & Refining USA, Inc., BASF SE, Versalis S.p.A., Styrolution, LG Chem, Alibaba.com., Mitsubishi Chemical Holdings Corporation, China Petroleum & Chemical Corporation., Perlite Construction Co, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.