Global Styrenic Polymer Market was valued at US$ 2.7 Bn in 2019 and is expected to reach US$ 4.93 Bn by 2027, at a CAGR of 7.81 % during a forecast period.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding styrenic polymer market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focus on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies and regional presence. The report also provide PEST analysis, PORTER’s analysis, SWOT analysis to address question of shareholders to prioritizing the efforts and investment in near future to emerging segment in styrenic polymer market.

The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.

Polymerization reaction of styrene with vinyl group results in the formation of the styrenic polymer. Styrene-based resins are mostly used to produce a variety of everyday goods, ranging from cups and utensils to furniture, kitchen appliances, consumer electronics, durable, hospital and school supplies, sports and recreational equipment, , and lightweight packaging of all kinds.

The growing practice in end-use industries with the inclination of customers towards a luxurious lifestyle has propelled the market growth. Moreover, increasing demand for the production construction, electronics, Medical, and other major end-use industries is expected to fuel the global styrenic polymer market growth. Additionally, increasing scope for styrenic polymer in medical devices, manufacturing, and packaging is foreseen to uplift the market growth. The noted developments in the styrenic polymer market is the making a new world-class styrene monomer plant by INEOS Styrolution, which will use low-cost feedstock and energy from shale gas. Moreover, the Novodur and Lunar product launches for cosmetic packaging and Styrolux and Styroflex for food packaging by Styrolution are likely to offer significant opportunities in cosmetic and food industries, respectively, during the forecast period.

Styrenic polymers provide benefits in design and development of medical parts and devices due to their flexibility, hence widely used in the market. Additional properties such as unique bonding polarity, chemical inertness, and aesthetic and physical properties are pushing the styrenic polymers market in medical applications. The fact that styrenic polymers are costly as compared to other medical polymers such as polyethylene and polyvinyl chloride may hinder the market growth.

Based on product, the Polystyrene segment is anticipated to contribute major revenue share to the global market and is expected to maintain its dominance over the forecast period. In terms of product, the market is segregated into polystyrene, expanded polystyrene, acrylonitrile butadiene styrene, styrene butadiene rubber, and unsaturated polyester rubber.

In terms of Application, Automotive industry holds the highest share in the market and expected to remain constant for the forecast period. Automotive was the largest end-use industry in 2017 due to the proliferation of automobile manufacturing units particularly in developing economies of Asia Pacific.

Geographically, North America dominated the market for styrenic polymers for the medical applications and consumer goods in the forecast period. In the forecaster tenure, the market will be led by Asia Pacific due to the rapid developments in the medical field, automotive industry and the growing population. The growth in the infrastructure industry will make the APAC region to become the largest end user of the styrenic polymers market.
The Scope of Global Styrenic Polymer Market:

Global Styrenic Polymer Market, by Product

• Polystyrene
• Acrylonitrile butadiene styrene
• Methyl-methacrylate butadiene styrene
• Styrene methyl-methacrylate
• Styrene ethylene butylene styrene
• Others
Global Styrenic Polymer Market, by Application:

• Medical
• Building and construction
• Electrical and electronics
• Automotive industry
• Others
Global Styrenic Polymer Market, by Region:

• North America
• Europe
• Middle East & Africa
• Asia Pacific
• South America
Key Players Operating in Global Styrenic Polymer Market:

• Total SA
• BASF SE
• Lanxess A
• SABIC
• Dow Chemical Company
• Chi Mei Corporation
• L0G Chem. Limited
• Chevron Philips Chemical Company
• Styron LLC. 

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