The new report by Expert Market Research titled, ‘Global Styrenics Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global styrenics market, assessing the market based on its segments like type, end-uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
• Forecast CAGR (2020-2025): 4%
The increasing infrastructural developments in emerging countries are driving the styrenics market growth. High-quality styrenics resins’ demand from various end-use segments such as wind energy, packaging, and automotive industries are expected to fuel the demand for the product. Polystyrene, SAN, and styrene block polymers are extensively employed in the production process of medical devices and packaging owing to its properties such as flexibility, versatility, chemical inertness, and other aesthetic and physical properties. Hence, the styrenics market is anticipated to be aided by a growth in the medical devices industry. The rising adoption in wind energy applications is creating growth opportunities for the global styrenics market in the coming years.
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Industry Definition and Major Segments
Styrenics are thermoplastics that are obtained from styrene. It is widely used in the automotive industry in high-gloss exterior products, such as mirrors for rear views, backlights, external panels, B-pillars, grilles for the front, and trimming. For automotive applications, styrenics are often adopted as a substitute for traditional plastics or synthetic elastomers.
Based on type, the market can be divided as follows:
• Acrylonitrile Butadiene
• Expanded Polystyrene
• Styrene Butadiene Rubber
• Unsaturated Polyester Resin
By end-use, the market can be categorised into:
• Specialty Chemical
• Wind Energy
• Consumer Goods
• Marine Accessories
The major regions of styrenics are:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
Rapid advancements in the medical sector are aiding the global styrenics market. The growing automotive industry is fuelling the demand for the product. Moreover, significant developments in infrastructural activities are creating a heightened demand for styrenics in the construction industry. The leading players in the global styrenics market are expanding their production capacities to cater to this demand. This is expected to show a positive impact on the market growth. Growing regulations on renewable energy usage and tyre labelling are anticipated to complement the market growth. Furthermore, new product innovations and developments in styrenics application segments are providing an impetus for the market growth over the forecast period.
Key Market Players
The major players in the market are Chevron Phillips Chemical Company LP, Trinseo S.A. (NYSE: TSE), Hanwha Group (KRX: 000880), Ineos Group, BASF SE (ETR: BAS), and NOVA Chemicals, Inc. (NOVA Chemicals, Inc.), among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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