Insights Into The Styrene Market’s Growth Opportunities Through 2023-2032 – Includes Styrene Market Overview
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The high demand for polystyrene are expected to drive innovation in styrene manufacturing, thus driving the market during the forecast period.
The global styrene market is expected to grow from $49.3 billion in 2021 to $52.28 billion in 2022 at a compound annual growth rate (CAGR) of 6.0%. The global styrene market size is expected to grow to $62.81 billion in 2026 at a CAGR of 4.7%.
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Global Styrene Market Segments Include:
- By Type: Acrylonitrile butadiene styrene (ABS), Expanded polystyrene (EPS), Other Types
- By Application: Automotive, Construction, Packaging consumer goods, Other Applications
- By Distribution Channel: Offline, Online
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global styrene market in 2021.
Major Market Players in the styrene market include Alpek SAB DE CV, Ashland Inc., Ineos Group AG, Nova Chemicals Corporation, Bayer Material science, Chevron Phillips Chemical Company LLC.
The companies in the styrene market are working towards developing techniques to recycle styrene. In order to increase the efficiency and popularity of styrene, companies are investing in developing methods to recycle styrene. In January 2022, Agilyx, a Norway-based chemical recycling firm and Toyo Styrene, a Japanese chemicals firm partnered and commenced the construction of Toyo Styrene Co Ltd polystyrene (PS) chemical recycling plant in Chiba, Japan. The plant will boast the per day capacity to recycle 10 tons of post-use polystyrene, a product produced from styrene and used in the manufacturing of tires, back into new styrene monomer for the future of the industry.
The Styrene Global Market Report 2023 provides a styrene market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The styrene market forecast analyzes styrene market size, styrene market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Styrene is a colorless, gritty organic compound derived from benzene. Styrene is readily evaporable and is also used as a precursor to polystyrene and several other copolymers.
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