Global Styrenics Market 2017-2021

Overview of the global styrenics market

Market research analysts at Technavio predict that in terms of volume, the global styrenics market will grow steadily at a CAGR of close to 5% by 2021. This market research analysis identifies the strong demand from the automotive industry as one of the primary growth factors for this market. Styrenics are used in the automotive industry for the interior, exterior applications, and in high-gloss exterior parts such as B-pillars, front grills, rear-view mirrors, rear lights, exterior panels, and trims. Additionally, the styrenic materials are also used in front grill applications, either unpainted, electroplated, or painted.  Styrenics are substituting standard plastics and conventional elastomers in automotive applications. With the increasing number of automobiles, this growing application of styrenics will significantly boost the growth of this global market during the forecast period.

The increase in infrastructural developments in emerging economies is one of the latest trends that will gain traction in the styrenics market in the coming years. The emerging economies are focusing on infrastructural developments and long-term projects. The demand for high-quality styrenics resins from end-use segments, such as construction, wind energy, packaging, and automotive sectors, is progressing steadily due to the rising investment in infrastructural development and construction projects, which in turn, will boost the overall growth of the styrenics market.

Competitive landscape and key vendors

The styrenics market is highly-competitive with the presence of numerous top-tier petrochemical manufacturers. Vendors in this market compete on factors such as price, innovation, operational cost, and product quality. To survive in this competitive environment, it is crucial for styrenics manufacturers to follow several major strategies and strengthen the restructuring of their activities and concentrate on geographic or product expansions and corporate reshuffling.

The leading vendors in the market are -

• Sinopec
• Covestro
• LyondellBasell Industries Holdings
• Synthos
• Total

The other prominent vendors in the market include Alpek, Americas Styrenics, Asahi Kasei, BASF, DSM, SABIC, and SIBUR.

Segmentation by type and analysis of the styrenics market

• Polystyrene (PS)
• Expanded polystyrene (EPS)
• Acrylonitrile butadiene styrene (ABS) and styrene acrylonitrile (SAN)
• Styrene butadiene rubber (SBR)
• Unsaturated polyester resin (UPR)

PS is a lightweight petroleum-based product that is manufactured from the monomer styrene and is mostly used in packaging applications. Owing to the increase in global population and properties of PS such as durability, flexibility, hardness, and cost-effectiveness, it is used as a popular raw material in the manufacture of various products.  According to this market study, the PS segment accounted for the major shares of the styrenics market during 2016.

Geographical segmentation and analysis of the styrenics market

• APAC
• Europe
• North America
• ROW

This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the market by 2021. The increasing demand for styrenics in APAC is primarily driven by the growth of the building and construction industries. Additionally, the increased consumption of styrenics in the rapidly growing automotive industry in the emerging economies and the emergence of countries such as China as a major hub for manufacturing, will also fuel the consumption of styrenics in APAC.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global styrenics market?
• What are the key market trends impacting the growth of the global styrenics market?
• What are the challenges to market growth?
• Who are the key vendors in the global styrenics market?
• What are the market opportunities and threats faced by the vendors in the global styrenics market?
• What are the trending factors influencing the market shares of APAC, Europe, North America, and ROW?
• What are the key outcomes of the five forces analysis of the global styrenics market?

Technavio also offers customization on reports based on specific client requirement.

Styrenics include polystyrene copolymers such as acrylonitrile, acrylates, and various other blends. They are used as precursors to polystyrene and various other copolymers. Styrene is a derivative of benzene and appears to be a colorless oily organic compound. It also tends to evaporate quickly. This upcoming industry research report by Technavio is an intrinsic part of the chemicals and materials industry and offers insights into niche sectors like specialty chemicals, paints, coatings, and pigments, and plastics, polymers, and elastomers. To help clients achieve traction over their peers, Technavio offers expansive knowledge on the all leading vendors and their products and services in the chemicals and materials industry.

Technavio’s team of market research analysts conduct a triangulated research approach of primary and secondary techniques and also carry out an extensive analysis of the demand-supply shifts in various markets, covering different geographical areas. To help clients devise new policies for growth, our upcoming industry research report on the global styrenics market for the period of 2017 to 2021 reveals deep insights construed from the data gathered from robust sources of market intelligence, such as manufacturers, channel partners, regulatory bodies, and decision makers.

This upcoming report on the global styrenics market also considers the growth of similar markets like barytes and asphalt, which are expected to grow at a CAGR of about 4% each, by the year 2021. According to our industry research analysts, the rising demand for styrenics from various end-use industries, such as electronics, automotive, construction, and consumer goods are the key factors augmenting the growth of the specialty chemicals industry in the coming few years.

The upcoming industry research report on the global styrenics market showcases the market drivers, emerging market trends, and setbacks faced by the specialty chemicals industry and also presents a complete overview of markets like additives, adhesives, and sealants, glass and ceramics, olefins, and textile, fiber, and composites.