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The high demand for polystyrene are expected to drive innovation in styrene-petrochemicals manufacturing, thus driving the market during the forecast period.

The global styrene-petrochemicals market is expected to grow from $61.66 billion in 2022 to $64.76 billion in 2023 at a compound annual growth rate (CAGR) of 5.0%. The global styrene-petrochemicals market size is expected to grow from $77.56 billion in 2027 at a CAGR of 4.6%.

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Global Styrene-Petrochemicals 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-petrochemicals market in 2021.

Major Market Players in the styrene-petrochemicals 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 petrochemicals market are working towards developing techniques to recycle styrene. 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-Petrochemicals Global Market Report 2023  provides a styrene-petrochemicals market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The styrene-petrochemicals market forecast analyzes styrene-petrochemicals market size, styrene-petrochemicals 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 petrochemical refers to a colorless, gritty organic compound derived from benzene. Styrene is readily evaporated and is also used as a precursor to polystyrene and several other copolymers.

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