Market Size of Styrene Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 34.44 Million tons |
| Market Volume (2029) | 44.62 Million tons |
| CAGR (2024 - 2029) | 5.32 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Styrene Market Analysis
The Styrene Market size is estimated at 34.44 Million tons in 2024, and is expected to reach 44.62 Million tons by 2029, growing at a CAGR of 5.32% during the forecast period (2024-2029).
The COVID-19 pandemic negatively impacted the styrene market. However, the market recovered significantly in 2021, owing to rising consumption of various industries, such as packaging, construction, automotive, and others.
- Over the short term, the growing demand from the consumer electronics industry is a major factor driving the growth of the market studied.
- However, increasing usage of bio-based plastics in the packaging industry is likely to restrain the growth of the market.
- Nevertheless, ongoing research to develop bio-based polystyrene is likely to create lucrative growth opportunities for the global market soon.
- The Asia-Pacific region dominates the styrene market, with the largest consumption coming from countries such as China, Japan, ASEAN countries, etc.
