Styrenics Global Markets Report 2021

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Sep 15, 2021, 08:30 ET

DUBLIN, Sept. 15, 2021 /PRNewswire/ -- The "Styrenics: Global Markets" report has been added to ResearchAndMarkets.com's offering.

This report covers the market for styrenics. It provides definitive and detailed estimates and forecasts of the global market, along with detailed analyses that are based on polymer types of styrenics. This report covers the present scenario and growth prospects of the global market for styrenics for 2020-2025.

Styrene polymers are among the largest polymers in terms of volume. Although polystyrene consumption has remained fairly constant, acrylonitrile-butadiene-styrene copolymers (ABS) and ABStype copolymers consumption have increased and continue to increase.

Overall, growing consumer demand has exceeded current capacity, yielding higher capacity usage than ever. Growth factors include technology advances, product improvements and organic growth in the main sectors such as packaging, consumer products, building and construction, electrical and electronics, automotive and other segments like healthcare.

Packaging remains the number one market to produce styrenics. Major packaging factors include cost reduction, light-weighting and improved sustainability. Sustainability, an ecological and environmental term, references the preservation of biological systems so that they may thrive. In packaging, this can mean replacing plastics considered less environmentally "friendly" (like polystyrene), with films made from renewable resources like bioplastics.

The global market for packaging is expected to grow mainly due to increasing consumption of fast-moving goods, a growing population that also is aging (a consumer segment that is driving growth in the pharmaceutical and personal care markets), growing awareness of recycling and environmental concerns and needs, and growing disposable incomes and purchasing power in developing markets such as China and India.

The market for styrenics is segmented by polymer type: polystyrene (PS), expanded polystyrene (EPS), acrylonitrile butadiene styrene (ABS), styrene-butadiene latex (SBL) and unsaturated polyester resin (UPR). By polymer type, polystyrene accounted for the highest share in the global market for styrenics. The increase of PS applications partly stems from the increasing global population.

The toughness of PS and qualities such as versatility, hardness and cost-effectiveness make it a common raw material in the manufacture of different goods. Waste produced from PS products may be transformed into other useful products. Demand for consumer goods is projected to increase during the forecast period, thanks to growing populations in developing economies such as China and India.

EPS accounted for the second-largest share in the global market for styrenics. The building industry uses EPS to reduce energy consumption and greenhouse gas emissions. The excellent insulation provided by EPS greatly improves its market for green buildings.

As demand for green buildings continues to grow, the EPS market is expected to grow significantly during the forecast period. In building and construction applications, EPS is used for exterior insulating and finishing systems, insulating concrete forms (ICF), structured insulated panels, floors, walls and ceilings, below-grade insulation, roofing systems, door cores, cold storages, and other applications. In packaging applications, EPS is widely used in protective packaging.

It has a soft feel, mostly in lower density and firmness ranges. EPS is mostly used to pack lightweight, fragile, and shock-sensitive products. EPS packaging foam can protect packaged items in transit, moderately heavy pieces of equipment, and various delicate shapes and sizes of devices from damage. Because EPS is an excellent insulator, it is increasingly being used in the electronics industry. It is safe, strong, lightweight, and affordable. EPS also helps to protect electronic items from environmental influence and mechanical shock. It can resist abrasion and has high strength and low-temperature flexibility.

To calculate the market size, the report considered revenue generated through sales of the market for styrenics products for end-use industries such as packaging, construction, consumer goods, automotive, electrical and electronics. The report also explores the competitive landscape and key players in the market.

The report also discusses market dynamics such as drivers, restraints, opportunities and challenges. New and emerging trends, along with their impact on current and future market dynamics, also are detailed.

The report Includes:

Analyses of the global market trends, with data from 2019-2020, and projections of compound annual growth rates (CAGRs) through 2025
Estimation of the market size (in value and volumetric terms) and revenue forecasts (in USD millions) for styrenics and related plastic polymers, and corresponding market share analysis by polymer type, end-use industry and geographical region
In-depth information (facts and figures) concerning the major factors influencing the progress of the market (drivers, restraints, opportunities, and industry-specific challenges) with respect to specific growth trends, upcoming prospects and contributions to the overall market
Impact analysis of COVID-19 pandemic on the global styrenics market as compared to overall plastics and additives industry
Competitive landscape comprising the key development strategies implemented by leading market players
Descriptive company profiles of the major market participants, including BASF SE, Chevron Phillips Chemical Co., Lanxess AG, Lotte Chemical Corp., and SABIC

Companies Mentioned