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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 (2018-2028); 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 2023-2028 at a CAGR of 5%.
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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.
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: Market 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.
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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.
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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 | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| 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, 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. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR 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 (2018-2022)
8.3 Global Styrene Market Forecast (2023-2028)
8.4 Global Styrene Market by Product Type
8.4.1 Polystyrene
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Acrylonitrile Butadiene Styrene
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Styrene Acrylonitrile
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Styrene-Butadiene Rubber
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
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 (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Construction
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Consumer Goods
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Automotive
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Others
8.6 Global Styrene Market by Region
8.7.1 North America
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2022)
8.7.5.3 Forecast Trend (2023-2028)
9 North America Styrene Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Styrene Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Styrene Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Styrene Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Styrene Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code - 290250)
16.1 Major Exporting Countries
16.1.1 By Value
16.1.2 By Volume
16.2 Major Importing Countries
16.2.1 By Value
16.2.2 By Volume
17 Price Analysis
17.1 North America Historical Price Trends (2018-2022) and Forecast (2023-2028)
17.2 Europe Historical Price Trends (2018-2022) and Forecast (2023-2028)
17.3 Asia Pacific Historical Price Trends (2018-2022) and Forecast (2023-2028)
17.4 Latin America Historical Price Trends (2018-2022) and Forecast (2023-2028)
17.5 Middle East and Africa Historical Price Trends (2018-2022) and Forecast (2023-2028)
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Chevron Phillips Chemical Company
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Kumho Petrochemicals Ltd.
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Royal Dutch Shell plc
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 INEOS Group
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 LyondellBasell Industries Holdings B.V.
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 BASF SE
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 Others
19 Key Trends and Developments in the Market
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 Key Figures and Tables
1. Global Styrene Market: Key Industry Highlights, 2018 and 2028
2. Global Styrene Historical Market: Breakup by Product Type (USD Billion), 2018-2022
3. Global Styrene Market Forecast: Breakup by Product Type (USD Billion), 2023-2028
4. Global Styrene Historical Market: Breakup by End Use (USD Billion), 2018-2022
5. Global Styrene Market Forecast: Breakup by End Use (USD Billion), 2023-2028
6. Global Styrene Historical Market: Breakup by Region (USD Billion), 2018-2022
7. Global Styrene Market Forecast: Breakup by Region (USD Billion), 2023-2028
8. North America Styrene Historical Market: Breakup by Country (USD Billion), 2018-2022
9. North America Styrene Market Forecast: Breakup by Country (USD Billion), 2023-2028
10. Europe Styrene Historical Market: Breakup by Country (USD Billion), 2018-2022
11. Europe Styrene Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Asia Pacific Styrene Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Asia Pacific Styrene Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Latin America Styrene Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Latin America Styrene Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Middle East and Africa Styrene Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Middle East and Africa Styrene Market Forecast: Breakup by Country (USD Billion), 2023-2028
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 2018-2028
23. Europe Historical Price Trends and Forecast 2018-2028
24. Asia Pacific Historical Price Trends and Forecast 2018-2028
25. Latin America Historical Price Trends and Forecast 2018-2028
26. Middle East and Africa Historical Price Trends and Forecast 2018-2028
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 2023-2028, 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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