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North America was a leading market for styrenics, particularly with respect to its application in the medical sector. The Asia Pacific and Europe were also major markets for styrenics use in the medical sector in the historical period. Due to the rapid advancements in the medical sector and the increasing population, the industry is expected to be dominated by the Asia Pacific over the next few years. The growing infrastructure development is also expected to make the region of Asia Pacific a leading consumer on styrenic polymers.
Some of the major players within the industry are BASF SE (OTCMKTS: BASFY) and INEOS. In 2020, INEOS Styrolution announced the groundbreaking of its new 100 kt acrylonitrile styrene acrylate plant in Bayport, Texas. The plant is a part of the company’s planned expansion into the Americas, which also included the increase in capacity of acrylonitrile butadiene styrene in the company’s Altamira site in Mexico. Such capacity expansions by the leading players involved in the industry is expected to create a positive outlook for the market.
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The major players in the global styrenics market are Chevron Phillips Chemical Company LP, Trinseo S.A., Hanwha Group, Ineos Group, BASF SE, and NOVA Chemicals, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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