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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Styrene Market was valued at US$ 63,827.9 million in 2023 and is poised to grow at a CAGR of 5.1% over 2024-2030. Styrene is a colorless, flammable liquid with a strong volatile smell that is frequently used to create plastics and rubber, which are then utilized to create a wide range of goods, including carpet backing, pipes, printing cartridges, and insulation. Heavy consumption of styrene by the packaging industry in disposable containers, electronics packaging, and food packaging is expected to drive the styrene market.
For instance, in February 2023, Pactiv Evergreen and AmSty launched circular polystyrene food packaging products. Furthermore, styrene is utilized in insulation, paints, coatings, and other building-related goods. The demand for styrene is driven by the demand for construction materials as urbanization and infrastructure development spread around the globe. Moreover, opportunities in the styrene market have increased as a result of improvements in recycling technology and the development of a circular economy. Styrene-based products can be recycled more effectively to cut waste and expand the market for recovered resources. For instance, in August 2022, Technip Energies and Agilyx announced the launch of the TruStyrenyx brand for the chemical recycling of polystyrene.
Additionally, Styrene made from biomaterials has grown popular in the market and is more environmentally benign because it is made from renewable feedstocks like biomass or agricultural waste. But, increased awareness of environmental issues and stringent regulations on emissions and waste disposal have negatively impacted the growth of the styrene market. However, its chemical stability, resistance to bacteria, superior heat insulation, and increased use in consumer electronics as a result of rapid urbanization, technological developments, and value pricing rates are anticipated to heighten the overall growth of the market.
Study Period
2024 - 2030Base Year
2023CAGR
5.10%Largest Market
Asia PacificFastest Growing Market
Asia Pacific
The market is expected to rise as polystyrene is widely used in a variety of applications which makes it one of the most popular derivatives of styrene. Excellent transparency, rigidity, and thermal insulation qualities make polystyrene the material of choice for applications that call for these qualities. It is inexpensive and simple to form into various shapes. Polystyrene is commonly used in packaging materials, food containers, disposable cutlery, CD and DVD cases, and various consumer goods. It is also used in the construction industry for insulation materials and in the production of toys and other household items. For instance, in August 2020, Versalis launched new polystyrene-based compounds under the Versalis Revive PS - Series Forever brand name that contains up to 75% of recycled solid polystyrene and are suitable for multiple applications, including thermal insulation, non-food packaging, and household items.
The Asia Pacific dominates the Styrene market and is poised to grow at 5.4% CAGR over the forecast period owing to the rapid industrialization, urbanization, ongoing construction projects in China and India. Moreover, China is a manufacturing hub of Consumer Goods, Electronics, and Plastics which is also likely to drive the market for Styrene over the forecast period. Increased e-commerce industry, which is the key aspect for the high demand of packaging materials such as polystyrene is equally driving the demand of styrene products in the region. Usage of plastics across different end-use industries such as healthcare, food, and beverages for the increased population is projected to boost the growth of the market in China.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024 - 2030 |
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Market Size in 2023 |
US$ 63,827.9 million |
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Market CAGR |
5.10% |
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By Product Type |
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By End User |
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By Region |
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Download Free Sample Report
The styrene market valued at US$ 63,827.9 Million in 2023 and is expected to grow at 5.1% CAGR over the forecast period 2024 – 2030.
The opportunities in the styrene market have increased as a result of improvements in recycling technology and the development of a circular economy
SABIC, Repsol, INEOS, Chevron Phillips Chemical Company LLC., Alpek SAB DE CV, Ineos Group AG, Nova Chemicals Corporation, Shell plc, LG Chem Ltd, Dynasol Group, Kraton Corporation, Trinseo and Elevate are a few companies operating in styrene market.
| 1.Executive Summary |
| 2.Global Styrene Market Introduction |
| 2.1.Global Styrene Market - Taxonomy |
| 2.2.Global Styrene Market - Definitions |
| 2.2.1.Product Type |
| 2.2.2.End User |
| 2.2.3.Geography |
| 2.2.4.Region |
| 3.Global Styrene Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Styrene Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Styrene Market By Product Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Polystyrene |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Acrylonitrile Butadiene Styrene |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Styrene Butadiene Rubber |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Others |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 6.Global Styrene Market By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Packaging |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Construction |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Consumer Goods |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Automotive and Transportation |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Electrical and Electronics |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 7.Global Styrene Market By Geography, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. The Asia Pacific |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Latin America |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. MEA |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Rest of MEA |
| 7.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.6.3. Market Opportunity Analysis |
| 8.Global Styrene Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9.North America Styrene Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Product Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Polystyrene |
| 9.1.2.Acrylonitrile Butadiene Styrene |
| 9.1.3.Styrene Butadiene Rubber |
| 9.1.4.Others |
| 9.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Packaging |
| 9.2.2.Construction |
| 9.2.3.Consumer Goods |
| 9.2.4.Automotive and Transportation |
| 9.2.5.Electrical and Electronics |
| 9.3. Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.North America |
| 9.3.2.Europe |
| 9.3.3.The Asia Pacific |
| 9.3.4.Latin America |
| 9.3.5.MEA |
| 9.3.6.Rest of MEA |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10.Europe Styrene Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Polystyrene |
| 10.1.2.Acrylonitrile Butadiene Styrene |
| 10.1.3.Styrene Butadiene Rubber |
| 10.1.4.Others |
| 10.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Packaging |
| 10.2.2.Construction |
| 10.2.3.Consumer Goods |
| 10.2.4.Automotive and Transportation |
| 10.2.5.Electrical and Electronics |
| 10.3. Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.North America |
| 10.3.2.Europe |
| 10.3.3.The Asia Pacific |
| 10.3.4.Latin America |
| 10.3.5.MEA |
| 10.3.6.Rest of MEA |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 11.Asia Pacific (APAC) Styrene Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Polystyrene |
| 11.1.2.Acrylonitrile Butadiene Styrene |
| 11.1.3.Styrene Butadiene Rubber |
| 11.1.4.Others |
| 11.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Packaging |
| 11.2.2.Construction |
| 11.2.3.Consumer Goods |
| 11.2.4.Automotive and Transportation |
| 11.2.5.Electrical and Electronics |
| 11.3. Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.North America |
| 11.3.2.Europe |
| 11.3.3.The Asia Pacific |
| 11.3.4.Latin America |
| 11.3.5.MEA |
| 11.3.6.Rest of MEA |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12.Middle East and Africa (MEA) Styrene Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Polystyrene |
| 12.1.2.Acrylonitrile Butadiene Styrene |
| 12.1.3.Styrene Butadiene Rubber |
| 12.1.4.Others |
| 12.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Packaging |
| 12.2.2.Construction |
| 12.2.3.Consumer Goods |
| 12.2.4.Automotive and Transportation |
| 12.2.5.Electrical and Electronics |
| 12.3. Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.North America |
| 12.3.2.Europe |
| 12.3.3.The Asia Pacific |
| 12.3.4.Latin America |
| 12.3.5.MEA |
| 12.3.6.Rest of MEA |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13.Latin America Styrene Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Polystyrene |
| 13.1.2.Acrylonitrile Butadiene Styrene |
| 13.1.3.Styrene Butadiene Rubber |
| 13.1.4.Others |
| 13.2. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Packaging |
| 13.2.2.Construction |
| 13.2.3.Consumer Goods |
| 13.2.4.Automotive and Transportation |
| 13.2.5.Electrical and Electronics |
| 13.3. Geography Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.North America |
| 13.3.2.Europe |
| 13.3.3.The Asia Pacific |
| 13.3.4.Latin America |
| 13.3.5.MEA |
| 13.3.6.Rest of MEA |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.SABIC |
| 14.2.2.Repsol |
| 14.2.3.INEOS |
| 14.2.4.Chevron Phillips Chemical Company LLC. |
| 14.2.5.Alpek SAB DE CV |
| 14.2.6.Ineos Group AG |
| 14.2.7.Nova Chemicals Corporation |
| 14.2.8.Shell plc |
| 14.2.9.LG Chem Ltd |
| 14.2.10.Dynasol Group |
| 14.2.11.Kraton Corporation |
| 14.2.12.Trinseo |
| 14.2.13.Elevate |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.