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Global Styrene Market: By Product Type: Polystyrene, Acrylonitrile Butadiene Styrene, Styrene Acrylonitrile, Styrene-Butadiene Rubber, Others; By End Use: Packaging, Construction, Others; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Styrene Market Outlook

The global styrene market is expected to grow in the forecast period of 2021-2026 at a CAGR of 5%.

 

Surging Use of Acrylonitrile Butadiene Styrene Boosting the Market Growth of Styrene

Acrylonitrile butadiene styrene is increasingly used as a displacement of polypropylene owing to its diverse properties and applications. It is extensively used in consumer electronics owing to its rigid, abrasive, and strain resistant properties. Moreover, it offers excellent surface quality as well as electrical insulating properties. This is also surging its use as an additive in the production of thermoplastics, which are used diversely, therefore augmenting the market growth. In addition, the market growth of styrene can be attributed to the growing use of acrylonitrile butadiene styrene plastic sheeting in various applications. It is used in the thriving automotive industry to reduce the overall weight of the vehicle while enhancing fuel efficiency.

 

Global Styrene Market

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Moreover, it also improves the durability of wheel covers, dashboards, and other body parts, owing to its low temperature resistance and high mechanical strength, hence bolstering the market growth of styrene. Styrene is also used as a raw material in plastic sheeting used for 3D printing as it offers low temperature melting point as well as durability. This, along with its cost-effectiveness, is increasing its use in prototyping in various industries ranging from cosmetics to machines. The heat and chemical resistant properties of styrene are increasing its application in various modern moulding techniques such as the plastic injection moulding process, consequently augmenting the market growth of styrene.

 

Styrene: Industry Definition and Segmentation

Styrene is a derivative of benzene that is a colourless liquid with a sweet smell. It is used in the production of polystyrene, which is one of the crucial plastics used in diverse applications. Moreover, it is a lightweight, cost-effective, and easily transportable material that is used extensively in the construction industry and automotive industry.

The major product types of styrene are:

  • Polystyrene
  • Acrylonitrile Butadiene Styrene
  • Styrene Acrylonitrile
  • Styrene-Butadiene Rubber
  • Others

The market can be broadly categorised on the basis of its end uses into:

  • Packaging
  • Construction
  • Consumer Goods
  • Automotive
  • Others

The EMR report looks into the regional markets of styrene like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Rising Demand for Bio-Styrene to Bolster the Growth of the Styrene Industry

The rising demand for biodegradable and sustainable products is leading to various research and development (R&D) to develop eco-friendly styrene products. This is increasing the use of starch and cellulose that can aid the degradation of styrene products, which is propelling the growth of the styrene industry. Moreover, increasing research to control the degradation rates of styrene is anticipated to augment the market growth. The leading companies are developing styrene, which can increase the shelf life of products used in packaging and consumer goods. For instance, Plastilite Corp. introduced Refoam, which is an environmentally friendly, oxo-biodegradable, and recyclable expanded polystyrene that can be used in diverse applications. In addition, several measures adopted by major companies to enhance the circular economy in the production of styrene by using recycled materials are projected to accelerate the market growth.

The surging use of polystyrene in various industries is further augmenting the market growth. It is extensively used in packaging food and beverages products to increase their shelf life, prevent damage, reducing the weight of the product, and preserving the texture, taste, and colour of products. Moreover, the affordable cost of polystyrene is increasing its demand among cost-conscious consumers, which is aiding the growth of the styrene industry. Styrene is also used in the construction industry to insulate walls, floors, and roofs, in buildings to improve their overall efficiency.  It is widely used in various consumer electronics, such as refrigerators, televisions, and coffee machines, among others, to enhance durability and functionality while providing an aesthetic appeal to the products, consequently providing further impetus to the industry growth.

 

Key Industry Players in the Global Styrene Market

The report presents a detailed analysis of the following key players in the global styrene market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Chevron Phillips Chemical Company
  • Kumho Petrochemicals Ltd.
  • Royal Dutch Shell plc
  • INEOS Group
  • LyondellBasell Industries Holdings B.V.
  • BASF SE
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2016-2020
Forecast Period 2021-2026
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product Type, End Use, Region
Breakup by Product Type Polystyrene, Acrylonitrile Butadiene Styrene, Styrene Acrylonitrile, Styrene-Butadiene Rubber, Others
Breakup by End Use Packaging, Construction, Consumer Goods, Automotive, Others
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand
Trade Data Analysis Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume
Price Analysis Historical and Forecast Price Trends- Regional
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Chevron Phillips Chemical Company, Kumho Petrochemicals Ltd., Royal Dutch Shell plc, INEOS Group, LyondellBasell Industries Holdings B.V., BASF SE, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Styrene Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Styrene Historical Market (2016-2020) 
    8.3    Global Styrene Market Forecast (2021-2026)
    8.4    Global Styrene Market by Product Type
        8.4.1    Polystyrene
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Acrylonitrile Butadiene Styrene
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
        8.4.3    Styrene Acrylonitrile
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2016-2020)
            8.4.3.3    Forecast Trend (2021-2026)
        8.4.4    Styrene-Butadiene Rubber
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2016-2020)
            8.4.4.3    Forecast Trend (2021-2026)
        8.4.5    Others
    8.5    Global Styrene Market by End Use
        8.5.1    Packaging
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Construction
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
        8.5.3    Consumer Goods
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2016-2020)
            8.5.3.3    Forecast Trend (2021-2026)
        8.5.4    Automotive
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2016-2020)
            8.5.4.3    Forecast Trend (2021-2026)
        8.5.5    Others
    8.6    Global Styrene Market by Region
        8.6.1    Market Share
            8.6.1.1    North America
            8.6.1.2    Europe
            8.6.1.3    Asia Pacific
            8.6.1.4    Latin America
            8.6.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Trade Data Analysis (HS Code - 290250)

    12.1    Major Importing Countries
        12.1.1    By Volume
        12.1.2    By Value
    12.2    Major Exporting Countries
        12.2.1    By Volume
        12.2.2    By Value
13    Price Analysis
    13.1    North America Historical Price Trends (2016-2020) and Forecast (2021-2026)
    13.2    Europe Historical Price Trends (2016-2020) and Forecast (2021-2026)
    13.3    Asia Pacific Historical Price Trends (2016-2020) and Forecast (2021-2026)
    13.4    Latin America Historical Price Trends (2016-2020) and Forecast (2021-2026)
    13.5    Middle East and Africa Historical Price Trends (2016-2020) and Forecast (2021-2026)
14    Competitive Landscape
    14.1    Market Structure
    14.2    Company Profiles
        14.2.1    Chevron Phillips Chemical Company
            14.2.1.1    Company Overview
            14.2.1.2    Product Portfolio
            14.2.1.3    Demographic Reach and Achievements
            14.2.1.4    Certifications
        14.2.2    Kumho Petrochemicals Ltd.
            14.2.2.1    Company Overview
            14.2.2.2    Product Portfolio
            14.2.2.3    Demographic Reach and Achievements
            14.2.2.4    Certifications
        14.2.3    Royal Dutch Shell plc
            14.2.3.1    Company Overview
            14.2.3.2    Product Portfolio
            14.2.3.3    Demographic Reach and Achievements
            14.2.3.4    Certifications
        14.2.4    INEOS Group
            14.2.4.1    Company Overview
            14.2.4.2    Product Portfolio
            14.2.4.3    Demographic Reach and Achievements
            14.2.4.4    Certifications
        14.2.5    LyondellBasell Industries Holdings B.V.
            14.2.5.1    Company Overview
            14.2.5.2    Product Portfolio
            14.2.5.3    Demographic Reach and Achievements
            14.2.5.4    Certifications
        14.2.6    BASF SE
            14.2.6.1    Company Overview
            14.2.6.2    Product Portfolio
            14.2.6.3    Demographic Reach and Achievements
            14.2.6.4    Certifications
        14.2.7    Others
15    Industry Events and Developments

 

Additional Customisations Available

1    Manufacturing Process
    1.1    Overview
    1.2    Detailed Process Flow
    1.3    Operation Involved
2    Project Requirement and Cost Analysis
    2.1    Land, Location and Site Development
    2.2    Construction
    2.3    Plant Machinery
    2.4    Cost of Raw Material
    2.5    Packaging
    2.6    Transportation
    2.7    Utilities
    2.8    Manpower
    2.9    Other Capital Investment

 

List of Figures and Tables

1.    Global Styrene Market: Key Industry Highlights, 2016 and 2026
2.    Global Styrene Historical Market: Breakup by Product Type (USD Billion), 2016-2020
3.    Global Styrene Market Forecast: Breakup by Product Type (USD Billion), 2021-2026
4.    Global Styrene Historical Market: Breakup by End Use (USD Billion), 2016-2020
5.    Global Styrene Market Forecast: Breakup by End Use (USD Billion), 2021-2026
6.    Global Styrene Historical Market: Breakup by Region (USD Billion), 2016-2020
7.    Global Styrene Market Forecast: Breakup by Region (USD Billion), 2021-2026
8.    North America Styrene Historical Market: Breakup by Country (USD Billion), 2016-2020
9.    North America Styrene Market Forecast: Breakup by Country (USD Billion), 2021-2026
10.    Europe Styrene Historical Market: Breakup by Country (USD Billion), 2016-2020
11.    Europe Styrene Market Forecast: Breakup by Country (USD Billion), 2021-2026
12.    Asia Pacific Styrene Historical Market: Breakup by Country (USD Billion), 2016-2020
13.    Asia Pacific Styrene Market Forecast: Breakup by Country (USD Billion), 2021-2026
14.    Latin America Styrene Historical Market: Breakup by Country (USD Billion), 2016-2020
15.    Latin America Styrene Market Forecast: Breakup by Country (USD Billion), 2021-2026
16.    Middle East and Africa Styrene Historical Market: Breakup by Country (USD Billion), 2016-2020
17.    Middle East and Africa Styrene Market Forecast: Breakup by Country (USD Billion), 2021-2026
18.    Major Importing Countries by Volume (2020)
19.    Major Exporting Countries by Volume (2020)
20.    Major Importing Countries by Value (2020)
21.    Major Exporting Countries by Value (2020)
22.    North America Historical Price Trends and Forecast 2016-2026
23.    Europe Historical Price Trends and Forecast 2016-2026
24.    Asia Pacific Historical Price Trends and Forecast 2016-2026
25.    Latin America Historical Price Trends and Forecast 2016-2026
26.    Middle East and Africa Historical Price Trends and Forecast 2016-2026
27.    Global Styrene Market Structure

Key Questions Answered in the Report

The global styrene market is projected to grow at a CAGR of 5% between 2021 and 2026.

The market is being driven by the growing use of acrylonitrile butadiene styrene owing to its favourable properties.

The industry is expected to be driven by the increasing research and development activities, the rising demand for bio-based and sustainable styrene, and the surging use of polystyrene in the construction and packaging industries.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major product types of styrene in the industry are polystyrene, acrylonitrile butadiene styrene, styrene acrylonitrile, and styrene-butadiene rubber, among others.

The significant end uses in the market are packaging, construction, consumer goods, and automotive, among others.

The major players in the industry are Chevron Phillips Chemical Company, Kumho Petrochemicals Ltd., Royal Dutch Shell plc, INEOS Group, LyondellBasell Industries Holdings B.V., and BASF SE, among others.

Analyst Review

The global styrene market is driven by the rising use of acrylonitrile butadiene styrene in various applications. Aided by the growing research and development (R&D) activities, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 5%.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its product types, the styrene industry can be segmented into polystyrene, acrylonitrile butadiene styrene, styrene acrylonitrile, and styrene-butadiene rubber, among others. On the basis of end uses, the industry is divided into packaging, construction, consumer goods, and automotive, among others. The major regional markets for styrene are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Chevron Phillips Chemical Company, Kumho Petrochemicals Ltd., Royal Dutch Shell plc, INEOS Group, LyondellBasell Industries Holdings B.V., and BASF SE, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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