Styrene Market - Growth, Trends, and Forecast (2020 - 2025)

The market is segmented by Product Type (Polystyrene, Acrylonitrile Butadiene Styrene, Styrene Butadiene Rubber, and Other Product Types), End-user Industry (Packaging, Construction, Consumer Goods, Automotive, Electrical and Electronics, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa)

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

5 %

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Market Overview

The market for styrene is expected to grow at a CAGR of more than 5% during the forecast period. The major factor driving the growth of the market studied is the growing consumer electronics market. On the flipside, the decline in automotive is expected to hinder the growth of the market studied.

  • The polystyrene segment dominated the market with a significant share. This segment is expected to have a significant demand due to increasing applications of expanded polystyrene.
  • Asia-Pacific dominated the market and is expected to continue its dominance during the forecast period.

Scope of the report

The styrene market report includes:

Product Type
Polystyrene
Acrylonitrile Butadiene Styrene
Styrene Butadiene Rubber
Other Product Types
End-user Industry
Packaging
Construction
Consumer Goods
Automotive
Electrical and Electronics
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
South Africa
Saudi Arabia
Rest of Middle-East and Africa

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Key Market Trends

Polystyrene Segment to Dominate the Market

  • Polystyrene is a thermoplastic resin, which can be easily processed. It is used in numerous applications, such as packaging, electronics, housewares, toys, and disposables.
  • Polystyrene (PS) is one of the multipurpose polymers available for a variety of applications. EPS has found numerous application areas across a wide range of industries due to its lightweight, rigidity, and thermal and acoustic insulating properties.
  • The major trend driving the polystyrene (PS) market is the increasing popularity of recycled EPS products, which has helped the market recover from the setbacks posed by its disposal. Additionally, its cost-effectiveness and higher moisture resistance against its competitive plastics give the market an upper edge and hence increases demand
  • Additionally, HIPS another type of polystyrene is used majorly in electronic and appliances applications, such as in computer housings, TV housings, and freezer and refrigerator liners appliances.
  • Asia-Pacific is the largest consumer of high impact polystyrene. It also produces about half of the world HIPS. Such factors are boosting the demand for polystyrene across the globe

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Asia-Pacific to dominate the Market

  • Asia-Pacific dominated the market with a share and is likely to continue its dominance during the forecast period.
  • Increasing packaging applications across the region followed by robust demand for electrical and electronics is boosting the styrene market.
  • Industries such as food and beverage, cosmetics, and consumer goods are continuously seen innovating new products, increasing production, and resorting to attractive packaging materials in order to attract customers.
  • China has the second-largest packaging industry in the world. The country is expected to witness a consistent growth during the forecast period, owing to the rise of customized packaging, increased demand for packaged consumerist goods, in the food segment
  • This has been leading to robust growth in the demand for packaging, which is further creating a noticeable demand for styrene in the region.

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Competitive Landscape

The market studied is partially fragmented among the top players. The key players include Chevron Phillips Chemical Company, INEOS AG, SABIC, Hanwha Group, and Royal Dutch Shell plc, among others

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Consumer Electronics Market

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Decline in Auotomotive Sector

      2. 4.2.2 Impact of COVID-19 Pandemic

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Polystyrene

      2. 5.1.2 Acrylonitrile Butadiene Styrene

      3. 5.1.3 Styrene Butadiene Rubber

      4. 5.1.4 Other Product Types

    2. 5.2 End-user Industry

      1. 5.2.1 Packaging

      2. 5.2.2 Construction

      3. 5.2.3 Consumer Goods

      4. 5.2.4 Automotive

      5. 5.2.5 Electrical and Electronics

      6. 5.2.6 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Chevron Phillips Chemical Company

      2. 6.4.2 Covestro AG

      3. 6.4.3 Hanwha Group

      4. 6.4.4 INEOS Capital Limited

      5. 6.4.5 LyondellBasell Industries Holdings B.V.

      6. 6.4.6 Repsol

      7. 6.4.7 Royal Dutch Shell plc

      8. 6.4.8 SABIC

      9. 6.4.9 LG Chem

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Ongoing Research to Develop Bio-based Polystyrene

    2. 7.2 Other Opportunities

** Subject to Availability

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