Global Styrene Market Analysis Report 2023: Plant Capacity, Production, Process, Technology, Operating Efficiency, Demand & Supply, End-Use, Foreign Trade, Sales Channel, Company Share, 2015-2030

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Mar 30, 2023, 19:30 ET

DUBLIN, March 30, 2023 /PRNewswire/ -- The "Global Styrene Market Analysis" database has been added to ResearchAndMarkets.com's offering.

The global Styrene market stood at approximately 30 million tonnes in 2021 and is expected to grow at a CAGR of 5.64% during the forecast period until 2030.

The primary market driver of the global Styrene market industry is the Packaging industry. Due to the exceptional properties of Styrene, it can be utilized to make durable and lightweight products.

Growing requirement of packaging material for milk, vegetables, food, meat, and electronic goods, along with requirements for storage purposes is anticipated to augment the growth of the global Styrene market in the forecast period. Other important applications of Styrene in automotive sector for manufacturing components will most likely further drive the Styrene market in coming years. The global Styrene market is anticipated to reach approximately 50 million tonnes by 2030.

Recently, a joint venture between LyondellBasell and the China Petroleum & Chemical Corporation (Sinopec) has been formed to produce propylene oxide and styrene monomer for the local Chinese market. This new facility will be able to produce 275 thousand tonnes of tons of propylene oxide and 600 thousand tonnes of styrene monomer each year.

Styrene is a colorless to pale yellowish (after aging) in color and is highly volatile, flammable oily liquid with a sweet smell. Commercially, the majority of the Styrene is produced by the alkylation of Benzene with Ethylene. Ethylbenzene is formed as an intermediate which is further dehydrogenated to form Styrene. Another method for its production is via Ethylbenzene Hyperoxide, in which Styrene is produced as a coproduct by reacting Propylene Oxide (PO) within POSM (Propylene Oxide/Styrene Monomer) units.

Mainly there are three technologies to produce Styrene which are EB/PO Technology, Versalis XSBR Technology, and EBMax SM1 Technology. It is primarily used in manufacturing synthetic rubbers, latex, polystyrene resins which are further employed in making disposable cutlery, insulations, pipes, plastic packaging, automobile and electronics part, printing cartridges, containers, etc.

Surging demand for PS from the packaging industry is likely to drive the demand in the forthcoming years. Styrene and its derivatives find applications in various end-use industries such as Automobile, Packaging, Construction, Consumer Goods, and Others. Thereby, growth in these end-user industries is anticipated to boost the market over the forecast period. However, the health and environmental hazards associated with the chemical compound may hamper its market growth in the forecast period.

Asia Pacific is the dominating all over the world with the highest demand of Styrene. This region accounted a market share of about 50% of the global Styrene market in 2021. Due to rapid industrialization, urbanization, ongoing construction projects in the region, market is expected to boost through 2030.

Europe stands as the second largest consumer of Styrene. Moreover, China is a manufacturing hub of Consumer Goods, Electronics, and Plastics which is also likely to drive the market for Styrene over the forecast period.

Significant companies for Global Styrene market are

Hanhwa - Total JV
Shell Global
SIBUR
Fermosa Chemical & Fibre Corporation
LyondellBasell
PJSC Lukoil Oil Company
SADAF (Petrokemia)
Zhejiang Petrochemical
Trinseo
INEOS Styrolution
Changzhou New Solar Chem
Samsung Total Petrochemical

Key Topics Covered:

1. Capacity By Company

On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Styrene.

2. Capacity By Location

To better understand the regional supply of Styrene by analyzing its manufacturers' location-based capacity.

3. Capacity By Process

To evaluate the demand of various methods and their capacities while looking for the future growth of each process.

4. Capacity By Technology

To better assess the manufacturing capacities with different technologies as well as understand which technology is more in demand.

5. Production By Company

Study the historical annual production of Styrene by the leading players and forecast how it will grow in the coming years.

6. Demand by End- Use

Discover which end-user industry (Packaging, Automotive Components, Construction Industry, Consumer Goods, and Others) are creating a market and the forecast for the growth of the Styrene market.

7. Demand by Region

Analyzing the change in demand of Styrene in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.

8. Demand by Sales Channel (Direct and Indirect)

Multiple channels are used to sell Styrene. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.

9. Demand-Supply Gap

Determine the supply-demand gap to gain information about the trade surplus or deficiency of Styrene.

10. Company Share

Figure out what proportion of the market share of Styrene is currently held by leading players across the globe.

11. Country-wise Export

Get details about quantity of Styrene exported by major countries.

12. Country-wise Import

Get details about quantity of Styrene imported by major countries.

For more information about this database visit https://www.researchandmarkets.com/r/iu27z4

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SOURCE Research and Markets