Global Styrene Market Report to 2031

DUBLIN, Sept. 23, 2022 (GLOBE NEWSWIRE) — The Styrene Global Market Report 2022 has been added ResearchAndMarkets.com Offer.

This report provides strategists, marketers and executives with the crucial information they need to assess the global Styrene market.

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The global styrene market is expected to grow from US$49.3 billion in 2021 to US$52.28 billion in 2022 at a compound annual growth rate (CAGR) of 6.0%. The market is expected to grow to $62.81 billion by 2026 at a CAGR of 4.7%.

The styrene market consists of the sale of styrene and related services used to manufacture synthetic rubber, resins and plastics and to improve drying oils. Styrene is a colorless, granular organic compound derived from benzene. Styrene is easily vaporized and is also used as a precursor to polystyrene and several other copolymers. Styrene is a scented liquid used to make synthetic rubber, resins, and plastics and to improve drying oils.

The main types of styrene are acrylonitrile butadiene styrene, expanded polystyrene and other types. Expanded polystyrene (EPS) is a rigid, tough, and lightweight thermoplastic product. EPS is suitable for the packaging and construction industries due to its light weight, strength and excellent thermal insulation properties. It is also divided by application into automotive, construction, consumer packaging and other segments, available through offline and online sales channels.

Asia Pacific was the largest region in the styrene market in 2021. The regions covered in the Styrene Report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The high demand for polystyrene is driving the growth of the styrene market. Styrene is used to produce polystyrene by suspension polymerization. Polystyrene is a versatile plastic used to make refrigerators, air conditioners, ovens, microwave ovens, and vacuum cleaners. Polystyrene is mainly used in the packaging industry as it keeps food fresher for longer.

Demand for polystyrene is high in the automotive industry, where it is used to make car buttons, instrument panels, trim panels, energy absorbing door panels, and sound deadening foams. Thus, strong demand for polystyrene has led to an increase in demand. For example, India and Iran are expected to lead the capacity expansion over the forecast period to meet demand. In India, Supreme Petrochem and LG Polymers India are expected to add 0.15 mtpa and 0.03 mtpa (million tons per year) respectively. Thus, the increasing demand for polystyrene and its derivatives is positively driving the growth of the styrene market.

The increasing health and environmental concerns related to the use of styrene limit the demand for styrene. Styrene is mainly used to make plastics and other resins. In humans, short-term exposure to styrene is known to result in mucosal and ocular irritation and gastrointestinal effects, while long-term exposure to styrene results in central nervous system (CNS) effects such as: B. headache, fatigue, weakness, depression, CSN dysfunction, hearing loss and peripheral neuropathy. In animals, oral exposure to styrene affects the liver, blood, kidneys, and stomach. Thus, the adverse health and environmental effects of styrene limit the growth of the styrene market.

Companies in the styrene market are working to develop techniques to recycle styrene. To increase the efficiency and popularity of styrene, companies are investing in the development of styrene recycling processes. In 2019, Trinseo, a synthetic rubber manufacturer, joined Styrenic Circular Solutions to bring the future of the industry the recycling of polystyrene, a product made from styrene and used in the manufacture of tires, back to new styrenic monomer to advance

The countries covered in Styrene Market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, the United States and Australia.

Key players in the styrene market are Alpek SAB DE CV, Ashland Inc, Ineos Group AG, Nova Chemicals Corporation, Bayer Material Science, Chevron Phillips Chemical Company LLC, ENI SpA, INEOS Styrolution Holding Ltd., Saudi Basic Industries Corp. (SABIC) and Total SA

Main topics covered:

1. Summary

2. Market characteristics of styrene

3. Styrene Market Size and Growth
3.1. Global Styrene Historical Market, 2016-2021, Billion US$
3.1.1. drivers of the market
3.1.2. restrictions in the market
3.2. Global Styrene Forecast Market, 2021-2026F, 2031F, US$ Billion
3.2.1. drivers of the market
3.2.2. restrictions in the market

4. Styrene Market Segmentation
4.1. Global Styrene Market, Segmentation by Type, History and Forecast, 2016-2021, 2026F, 2031F, Billion US$

  • Acrylonitrile Butadiene Styrene (ABS)
  • Expanded polystyrene (EPS)
  • Polystyrene (PS)
  • Other kinds

4.2. Global Styrene Market, Segmentation by Application, History and Forecast, 2016-2021, 2026F, 2031F, US$ Billion

  • automobile
  • construction
  • packaging consumer goods
  • Other Applications

4.3. Global Styrene Market, Segmentation by Distribution Channel, History and Forecast, 2016-2021, 2026F, 2031F, Billion US$

5. Regional and country analysis of the Styrene market
5.1. Global Styrene Market Split by Region, Historical and Forecast, 2016-2021, 2026F, 2031F, Billion US$
5.2. Global Styrene Market Split by Country, Historical and Forecast, 2016-2021, 2026F, 2031F, Billion US$

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