Styrene Market size was valued at US$ 54.02 Bn. in 2022 and the total Styrene revenue is expected to grow at 5 % from 2023 to 2029, reaching nearly US$ 76.01 Bn.
Styrene Market Overview
The global market intelligence firm Maximize Market research has published new Styrene Market report that indicates the fruitful growth in the Styrene market in the forecast period by 2029. The Maximize Market Research have customers globally and has served in than more 34 countries and 600 clients since 2017. The report highlights the common subjects with unique data base which is analysed by industry experts.
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Styrene Market Report Scope and Research Methodology
The Styrene market report provides us and in-depth analysis of the key trends, dynamics and other issues. The key findings of the report comprises of the market sizing, its segmentation and competitive analysis of the industry. It covers the key insights of the market with a detailed regional, demand and competitor analysis. Key players and new entrants of the market are also analysed while researching to draw a competitive landscape. Several factors like revenue generated, production capacity, and products differentiation are taken into consideration while researching. Segment wise analysis of the industry is conducted to understand the behaviour and geographic changes of the industry. SWOT analysis was conducted to provide the strengths, weakness, opportunities and upcoming threats over the market. Porter’s five forces analysis helps one drive deeper into the industry to tweak strategies according to market and current market scenario to increase profit margins and a step ahead of the competitors in the market. PESTLE was employed to understand the actual potential impact of the external factors affecting the Styrene market. Thus the report provides a detailed overview of the Styrene market.
Styrene Market Segmentation
by Type
Acrylonitrile Butadiene Styrene (ABS)
Expanded Polystyrene (EPS)
Others
The sector for Acrylonitrile Butadiene Styrene (ABS) is anticipated to experience the highest CAGR of 7.2% among all segments based on Type over the projection period. ABS is used in the production of several car parts, including the bumper, seats, dashboard, interior trim, headliners, centre consoles, and lighting. ABS accounts for around 12.7% of all automotive polymers used in a passenger automobile.
It is anticipated that as more people become aware of the underlying link between mass and fuel efficiency, the use of ABS in automobiles would increase. Acrylonitrile butadiene styrene is used for vacuum construction as well as pipes and fittings because of its high mechanical strength and low weight. Because ABS is more durable and corrosion-resistant than PVC, it is used to produce garbage collection products.
by Application
Automotive
Construction
Packaging Consumer Goods
Others
Depending on the application On a global level, the automotive industry has been expanding significantly. Global auto sales increased by 7% in 2022 to 110.0 million units, up from the previous year. Demand is anticipated to rise during the forecast period as a result of factors including increased urbanisation, rising interest in electric vehicles, and constant technical advancements.
The automotive sector, which had a revenue share of 22% in 2022 due to increasing use in the automotive industry, is anticipated to grow at the fastest rate over the projection period. A major driver of the market’s expansion is rising car manufacturing, which is concentrated in China, Indonesia, Mexico, the United States, Germany, South Korea, Japan, Malaysia, and Taiwan.
by End Use
Plastics
Paints & Coatings
Packaging
Rubber
Automotive
Others
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Styrene Market Regional Analysis
The study of the market by segmenting it into specific regions provides the main objective market and evaluates the strategies for growth used by keys competitors in the specific regions. It provides identification of regional market trends, restrictions and development areas and new opportunities of the market. The report assists in planning and implementing the new strategies which are suitable and appropriately applicable according to specific countries and regions in the market.
Styrene Market Key Players
1. Chevron Phillips Chemical Company
2. Bayer Material science
3. Royal Dutch Shell plc.
4. Ashland Inc
5. Nova Chemicals Corporation
6. SABIC Co.
7. Ineos Group AG
8. Alpek S.A.B. de C.V.
9. Hanwha Group
10. Eni S.p.A.
11. TotalEnergies S.A.
12. BASF SE
13. Kaneka Corp.
14. Ravago
15. Saudi Basic Industries Corp. (SABIC)
16. LyondellBasell Industries Holdings B.V.
17. Covestro AG
18. Sibur
19. Repsol
20. LG Chem
Table of content for the Styrene Market includes:
1. Global Styrene Market: Research Methodology
2. Global Styrene Market: Executive Summary
2.1 Market Overview and Definitions
2.1.1. Introduction to Global Styrene Market
2.2. Summary
2.2.1. Key Findings
2.2.2. Recommendations for Investors
2.2.3. Recommendations for Market Leaders
2.2.4. Recommendations for New Market Entry
3. Global Styrene Market: Competitive Analysis
3.1 MMR Competition Matrix
3.1.1. Market Structure by region
3.1.2. Competitive Benchmarking of Key Players
3.2 Consolidation in the Market
3.2.1 M&A by region
3.3 Key Developments by Companies
3.4 Market Drivers
3.5 Market Restraints
3.6 Market Opportunities
3.7 Market Challenges
3.8 Market Dynamics
3.9 PORTERS Five Forces Analysis
3.10 PESTLE
3.11 Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• The Middle East and Africa
• South America
3.12 COVID-19 Impact
4. Global Styrene Market Segmentation
4.1 Global Styrene Market, by Type (2022-2029)
• Acrylonitrile Butadiene Styrene (ABS)
• Expanded Polystyrene (EPS)
• Others
4.2 Global Styrene Market, by Application (2022-2029)
• Automotive
• Construction
• Packaging Consumer Goods
• Others
4.3 Global Styrene Market, by End Use (2022-2029)
• Plastics
• Paints & Coatings
• Packaging
• Rubber
• Automotive
• Others
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Key Questions answered in the Styrene Market Report are:
- What factors are affecting the Styrene market growth?
- Who are the key players of the Styrene market?
- Which company held the largest share in the Styrene market?
- What will be the CAGR of the Styrene market during the forecast period?
- What key trends are likely to emerge in the Styrene market in the coming years?
Key offerings:
- Market Share, Size, and Forecast by Revenue|2022-2029
- Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key
- trends
- Market Segmentation: A detailed analysis by Styrene
- Landscape- Leading key players and other prominent key players.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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