Styrene Trends and Forecast
The future of the global styrene market looks promising with opportunities in the packaging, construction, consumer good, automotive & transportation, and electrical & electronic markets. The global styrene market is expected to grow with a CAGR of 5.2% from 2024 to 2030. The major drivers for this market are increasing demand for durable as well as lightweight products and growing requirements for this product from the packaging sector.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Styrene by Segment
The study includes a forecast for the global styrene by product type, end use, and region.
Styrene Market by Product Type [Shipment Analysis by Value from 2018 to 2030]:
• Polystyrene
• Acrylonitrile Butadiene Styrene
• Styrene Butadiene Rubber
• Others
Styrene Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Packaging
• Construction
• Consumer Goods
• Automotive & Transportation
• Electrical & Electronics
• Others
Styrene Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Styrene Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies styrene companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the styrene companies profiled in this report include-
• Chevron Phillips Chemical
• Covestro
• Hanwha Group
• INEOS (INEOS Styrolution)
• LG Chem
• LyondellBasell Industries Holdings
• Reliance Industries
• Repsol
• SABIC
• Shell
Styrene Market Insights
Lucintel forecasts that polystyrene is expected to witness the highest growth over the forecast period.
Within this market, packaging is expected to witness the highest growth due to substantial usage of styrene in this sector given to its advantageous qualities, which include impact resistance, thermal insulation, and lightweight, versatile plastic with outstanding clarity.
APAC will remain the largest region over the forecast period.
Features of the Global Styrene Market
Market Size Estimates: Styrene market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Styrene market size by product type, end use, and region in terms of value ($B).
Regional Analysis: Styrene market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different product types, end uses, and regions for the styrene market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the styrene market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for styrene market?
Answer: The global styrene market is expected to grow with a CAGR of 5.2% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the styrene market?
Answer: The major drivers for this market are increasing demand for durable as well as lightweight products and growing requirements for this product from the packaging sector.
Q3. What are the major segments for styrene market?
Answer: The future of the styrene market looks promising with opportunities in the packaging, construction, consumer good, automotive & transportation, and electrical & electronic markets.
Q4. Who are the key styrene market companies?
Answer: Some of the key styrene companies are as follows:
• Chevron Phillips Chemical
• Covestro
• Hanwha Group
• INEOS (INEOS Styrolution)
• LG Chem
• LyondellBasell Industries Holdings
• Reliance Industries
• Repsol
• SABIC
• Shell
Q5. Which styrene market segment will be the largest in future?
Answer: Lucintel forecasts that polystyrene is expected to witness the highest growth over the forecast period.
Q6. In styrene market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the styrene market by product type (polystyrene, acrylonitrile butadiene styrene, styrene butadiene rubber, and others), end use (packaging, construction, consumer goods, automotive & transportation, electrical & electronics, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Styrene Market, Styrene Market Size, Styrene Market Growth, Styrene Market Analysis, Styrene Market Report, Styrene Market Share, Styrene Market Trends, Styrene Market Forecast, Styrene Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.