Styrene Market (2018 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The Styrene market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.
“Styrene Market report is anticipated to register a CAGR of 4.9% over a five years forecast period (2018 – 2023).”
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List of Major Key players operating in the Global Styrene Market are –
- Americas Styrenics
- Ashland Inc.
- BASF SE
- Bayer AG
- Chevron Phillips Chemicals Company
- INEOS Styrolution Group GmbH
- LG Chem
- LyondellBasell Industries Holdings B.V.
- Mitsubishi Chemicals
- NIPPON STEEL & SUMIKIN CHEMICAL CO. LTD
- Perlite Construction Co.
- Shell Chemicals
- Shuangliang Leasty Chemical
- SINOPEC Qingdao Refining Corp. Ltd
- The Dow Chemicals Company
- Total Petrochemicals
The styrene market is expected to register a CAGR of 4.9% between 2018 and 2023. The market is likely to be fueled by increasing demand for expanded polystyrene in the construction industry. Furthermore, increase in consumption of styrene in the automotive industry is projected to boost the demand during the forecast period.
Increasing Demand for Expanded Polystyrene from the United States & Canadian Construction Industry
Expanded polystyrene (EPS) is one of the most popular materials used in the construction industry. One of the major reasons is its cost-effectiveness, along with its ideal physical and mechanical properties for insulation needs. EPS is used as insulation in roofs, walls, and foundations, and serves as an integral component of insulated concrete forms (ICFs), structural insulated panels (SIPs), and exterior insulation and finish systems (EIFS). The United States construction sector is expected to grow at a rapid rate, primarily driven by the residential and infrastructure sector. Few upcoming bridge projects are located at Adams, Beaver, Bedford & Bradford, Clearfield, Clinton, Franklin, Greene, Lancaster, etc., which are scheduled for completion in 2018. This trend is expected to augment the usage of EPS in the country. With the rapid rise of construction activities in the United States and Canada, the demand for expanded polystyrene (EPS) is set to increase during the forecast period.
Packaging is the Dominating Segment
Styrene is widely used in the packaging industry, owing to its properties, such as light weight, durability, flexibility, thermal efficiency, and moisture resistivity. Styrene is used for packing food products, such as fish, meat, fruits, milk products, processed foods, consumer durables, electronics, horticulture, heavy products, and fragile pharmaceutical products, among others. Furthermore, styrene also provides a cost-effective and environment-friendly packaging solution that does not emit chlorofluorocarbons (CFC) or hydro-chlorofluorocarbons (HCFC). Additionally, changing lifestyles and increasing popularity of packaged food are augmenting the growth of the market. Thus, with the growing packaging needs across the globe, the usage of styrene is projected to grow rapidly during the forecast period.
United States is the Largest Market
The United States is also the world’s second largest market for vehicle sales and production. It contributes around 3-3.5% to the country’s GDP. The production of light vehicles in the United States reached 11 million units in 2017. Honda, Ford Motors, and General Motors are some of the major manufacturers in the country. The sales of light vehicles reached 17.5 million units. Moreover, the production of electric vehicles in the country is expected to get a boost. Tesla, an electric vehicle manufacturer, was aiming to manufacture 5,000 units per week by the end of 2017 and increase the same to 10,000 units per week by 2018. Thus, with the rising demand from the end-user industries, the demand for styrene is set to grow rapidly during the forecast period.
Major Players: INEOS Styrolution Group GmbH, BASF SE, Bayer AG, LG Chem, and Ashland Inc., among others.
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Scope of the Report:
The report analyses Styrene market, which includes –
- Analysis of the growth of Styrene market in global and regional level including Asia-Pacific, Americas, and EMEA.
- The report provides Styrene market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
- The report offers country level Styrene market volume and value by end-user segment for the period 2012-2023.
- Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Styrene market are discussed.
- The report provides competitive landscape at country level for the year 2018. It also covers key policies and initiatives, key deals, and key upcoming projects.
Highlighted points of Styrene Market Report:
- Varying dynamics of the Styrene industry.
- Prospective changes in sales volumes and worldwide share growth in upcoming years (2018-2023).
- Styrene market report recognizes the key drivers of growth and challenges of the key industry players.
- Competitors profiles along with product description, overview, and business data.
- A complete analysis of market risks, opportunities, limitations, and growth of the market.
- Market driving and restraining factors.
- Delivers information on the historical and current market size and the future potential of the market.
- Styrene market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.
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Reasons to Purchase Styrene Market Report:
- The report analyses how stringent emission control norms will drive the global Styrene market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major Styrene market players.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
In this study, the years considered to estimate the market size of Styrene:
History Year: 2013-2017
Base Year: 2017
Estimated Year: 2018
Forecast Year 2018 to 2023
Look into Table of Content of Styrene Market Report @ https://www.360marketupdates.com/TOC/12885704#TOC
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