Styrene Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
MARKET OVERVIEW
Styrene, an organic compound, is used to manufacture plastics, synthetic fibers, and rubber. The worldwide market for styrene is influenced by the growing utilization of styrene-based products in various sectors like construction, packaging, automotive, electrical, and electronics. The forecast period is expected to grow in the market due to the increased demand for styrene-based products. However, certain regions have strict regulations on using styrene, which may hinder the market growth due to its potential environmental and health hazards.
MARKET DYNAMICS
The global styrene market is growing at a significant rate owing to rise in the automotive, packaging and construction industries and increasing demand for expanded polystyrene from the United States & Canada construction industry. Moreover, rising demand for general-purpose and high-impact polystyrene from the Asia-Pacific regions are the factors propelling the growth of the global styrene market. However, adverse health & environmental effects, growing renewable energy use and strict government regulation regulations, especially in Europe, are presumed to hamper the overall growth of the market over the forecast period. Likewise, increasing application in various end-use industries such as construction, packaging and consumer goods in emerging economies presents a significant opportunity for the industry players.
MARKET SCOPE
The "Global Styrene Market Analysis to 2031" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the styrene market with detailed market segmentation by product type, end-user industry and geography. The global styrene market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading styrene market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global styrene market is segmented on the basis of product type and end-user industry. On the basis of product type, the styrene market is segmented into polystyrene, expanded polystyrene, acrylonitrile butadiene styrene, styrene butadiene rubber, unsaturated polyester resins and others. Based on end-user industry, the global styrene market is segmented into, packaging, construction, consumer goods, automotive, electrical & electronics and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global styrene market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The styrene market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the styrene market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors affecting the styrene market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global styrene market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The styrene market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the styrene market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors affecting the styrene market in these regions.
MARKET PLAYERS
The reports cover key developments in the styrene market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from styrene market are anticipated to lucrative growth opportunities in the future with the rising demand for styrene in the global market. Below mentioned is the list of few companies engaged in the styrene market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the styrene market. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last 3 years, the key development in the past five years.
- Alpek S.A.B. de C.V.
- Americas Styrenics
- BASF SE
- Chevron Phillips Chemicals Company
- INEOS Styrolution Group GmbH
- LG Chem
- LyondellBasell Industries Holdings B.V.
- SABIC
- Shell Chemicals
- Total S.A.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
TABLE OF CONTENTS
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Styrene Market - By Product Type
1.3.2Styrene Market - By End-User Industry
1.3.3Styrene Market - By Region
1.3.3.1By Country
2.KEY TAKEWAYS
3.RESEARCH METHODOLOGY
4.STYRENE MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.EXPERT OPINIONS
5.STYRENE MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6.STYRENE MARKET - GLOBAL MARKET ANALYSIS
6.1.STYRENE - GLOBAL MARKET OVERVIEW
6.2.STYRENE - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.STYRENE MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1.OVERVIEW
7.2.PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3.POLYSTYRENE
7.3.1.Overview
7.3.2.Polystyrene Market Forecast and Analysis
7.4.EXPANDED POLYSTYRENE
7.4.1.Overview
7.4.2.Expanded Polystyrene Market Forecast and Analysis
7.5.ACRYLONITRILE BUTADIENE STYRENE
7.5.1.Overview
7.5.2.Acrylonitrile Butadiene Styrene Market Forecast and Analysis
7.6.STYRENE BUTADIENE RUBBER
7.6.1.Overview
7.6.2.Styrene Butadiene Rubber Market Forecast and Analysis
7.7.UNSATURATED POLYESTER RESINS
7.7.1.Overview
7.7.2.Unsaturated Polyester Resins Market Forecast and Analysis
7.8.OTHERS
7.8.1.Overview
7.8.2.Others Market Forecast and Analysis
8.STYRENE MARKET - REVENUE AND FORECASTS TO 2028 - END-USER INDUSTRY
8.1.OVERVIEW
8.2.END-USER INDUSTRY MARKET FORECASTS AND ANALYSIS
8.3.PACKAGING
8.3.1.Overview
8.3.2.Packaging Market Forecast and Analysis
8.4.CONSTRUCTION
8.4.1.Overview
8.4.2.Construction Market Forecast and Analysis
8.5.CONSUMER GOODS
8.5.1.Overview
8.5.2.Consumer Goods Market Forecast and Analysis
8.6.AUTOMOTIVE
8.6.1.Overview
8.6.2.Automotive Market Forecast and Analysis
8.7.ELECTRICAL AND ELECTRONICS
8.7.1.Overview
8.7.2.Electrical and Electronics Market Forecast and Analysis
8.8.OTHERS
8.8.1.Overview
8.8.2.Others Market Forecast and Analysis
9.STYRENE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America Styrene Market Overview
9.1.2North America Styrene Market Forecasts and Analysis
9.1.3North America Styrene Market Forecasts and Analysis - By Product Type
9.1.4North America Styrene Market Forecasts and Analysis - By End-User Industry
9.1.5North America Styrene Market Forecasts and Analysis - By Countries
9.1.5.1United States Styrene Market
9.1.5.1.1United States Styrene Market by Product Type
9.1.5.1.2United States Styrene Market by End-User Industry
9.1.5.2Canada Styrene Market
9.1.5.2.1Canada Styrene Market by Product Type
9.1.5.2.2Canada Styrene Market by End-User Industry
9.1.5.3Mexico Styrene Market
9.1.5.3.1Mexico Styrene Market by Product Type
9.1.5.3.2Mexico Styrene Market by End-User Industry
9.2.EUROPE
9.2.1Europe Styrene Market Overview
9.2.2Europe Styrene Market Forecasts and Analysis
9.2.3Europe Styrene Market Forecasts and Analysis - By Product Type
9.2.4Europe Styrene Market Forecasts and Analysis - By End-User Industry
9.2.5Europe Styrene Market Forecasts and Analysis - By Countries
9.2.5.1Germany Styrene Market
9.2.5.1.1Germany Styrene Market by Product Type
9.2.5.1.2Germany Styrene Market by End-User Industry
9.2.5.2France Styrene Market
9.2.5.2.1France Styrene Market by Product Type
9.2.5.2.2France Styrene Market by End-User Industry
9.2.5.3Italy Styrene Market
9.2.5.3.1Italy Styrene Market by Product Type
9.2.5.3.2Italy Styrene Market by End-User Industry
9.2.5.4United Kingdom Styrene Market
9.2.5.4.1United Kingdom Styrene Market by Product Type
9.2.5.4.2United Kingdom Styrene Market by End-User Industry
9.2.5.5Russia Styrene Market
9.2.5.5.1Russia Styrene Market by Product Type
9.2.5.5.2Russia Styrene Market by End-User Industry
9.2.5.6Rest of Europe Styrene Market
9.2.5.6.1Rest of Europe Styrene Market by Product Type
9.2.5.6.2Rest of Europe Styrene Market by End-User Industry
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific Styrene Market Overview
9.3.2Asia-Pacific Styrene Market Forecasts and Analysis
9.3.3Asia-Pacific Styrene Market Forecasts and Analysis - By Product Type
9.3.4Asia-Pacific Styrene Market Forecasts and Analysis - By End-User Industry
9.3.5Asia-Pacific Styrene Market Forecasts and Analysis - By Countries
9.3.5.1Australia Styrene Market
9.3.5.1.1Australia Styrene Market by Product Type
9.3.5.1.2Australia Styrene Market by End-User Industry
9.3.5.2China Styrene Market
9.3.5.2.1China Styrene Market by Product Type
9.3.5.2.2China Styrene Market by End-User Industry
9.3.5.3India Styrene Market
9.3.5.3.1India Styrene Market by Product Type
9.3.5.3.2India Styrene Market by End-User Industry
9.3.5.4Japan Styrene Market
9.3.5.4.1Japan Styrene Market by Product Type
9.3.5.4.2Japan Styrene Market by End-User Industry
9.3.5.5South Korea Styrene Market
9.3.5.5.1South Korea Styrene Market by Product Type
9.3.5.5.2South Korea Styrene Market by End-User Industry
9.3.5.6Rest of Asia-Pacific Styrene Market
9.3.5.6.1Rest of Asia-Pacific Styrene Market by Product Type
9.3.5.6.2Rest of Asia-Pacific Styrene Market by End-User Industry
9.4.MIDDLE EAST AND AFRICA
9.4.1Middle East and Africa Styrene Market Overview
9.4.2Middle East and Africa Styrene Market Forecasts and Analysis
9.4.3Middle East and Africa Styrene Market Forecasts and Analysis - By Product Type
9.4.4Middle East and Africa Styrene Market Forecasts and Analysis - By End-User Industry
9.4.5Middle East and Africa Styrene Market Forecasts and Analysis - By Countries
9.4.5.1South Africa Styrene Market
9.4.5.1.1South Africa Styrene Market by Product Type
9.4.5.1.2South Africa Styrene Market by End-User Industry
9.4.5.2Saudi Arabia Styrene Market
9.4.5.2.1Saudi Arabia Styrene Market by Product Type
9.4.5.2.2Saudi Arabia Styrene Market by End-User Industry
9.4.5.3U.A.E Styrene Market
9.4.5.3.1U.A.E Styrene Market by Product Type
9.4.5.3.2U.A.E Styrene Market by End-User Industry
9.4.5.4Rest of Middle East and Africa Styrene Market
9.4.5.4.1Rest of Middle East and Africa Styrene Market by Product Type
9.4.5.4.2Rest of Middle East and Africa Styrene Market by End-User Industry
9.5.SOUTH AND CENTRAL AMERICA
9.5.1South and Central America Styrene Market Overview
9.5.2South and Central America Styrene Market Forecasts and Analysis
9.5.3South and Central America Styrene Market Forecasts and Analysis - By Product Type
9.5.4South and Central America Styrene Market Forecasts and Analysis - By End-User Industry
9.5.5South and Central America Styrene Market Forecasts and Analysis - By Countries
9.5.5.1Brazil Styrene Market
9.5.5.1.1Brazil Styrene Market by Product Type
9.5.5.1.2Brazil Styrene Market by End-User Industry
9.5.5.2Argentina Styrene Market
9.5.5.2.1Argentina Styrene Market by Product Type
9.5.5.2.2Argentina Styrene Market by End-User Industry
9.5.5.3Rest of South and Central America Styrene Market
9.5.5.3.1Rest of South and Central America Styrene Market by Product Type
9.5.5.3.2Rest of South and Central America Styrene Market by End-User Industry
10.INDUSTRY LANDSCAPE
10.1.MERGERS AND ACQUISITIONS
10.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3.NEW PRODUCT LAUNCHES
10.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11.STYRENE MARKET, KEY COMPANY PROFILES
11.1.ALPEK S.A.B. DE C.V.
11.1.1.Key Facts
11.1.2.Business Description
11.1.3.Products and Services
11.1.4.Financial Overview
11.1.5.SWOT Analysis
11.1.6.Key Developments
11.2.AMERICAS STYRENICS
11.2.1.Key Facts
11.2.2.Business Description
11.2.3.Products and Services
11.2.4.Financial Overview
11.2.5.SWOT Analysis
11.2.6.Key Developments
11.3.BASF SE
11.3.1.Key Facts
11.3.2.Business Description
11.3.3.Products and Services
11.3.4.Financial Overview
11.3.5.SWOT Analysis
11.3.6.Key Developments
11.4.CHEVRON PHILLIPS CHEMICALS COMPANY
11.4.1.Key Facts
11.4.2.Business Description
11.4.3.Products and Services
11.4.4.Financial Overview
11.4.5.SWOT Analysis
11.4.6.Key Developments
11.5.INEOS STYROLUTION GROUP GMBH
11.5.1.Key Facts
11.5.2.Business Description
11.5.3.Products and Services
11.5.4.Financial Overview
11.5.5.SWOT Analysis
11.5.6.Key Developments
11.6.LG CHEM
11.6.1.Key Facts
11.6.2.Business Description
11.6.3.Products and Services
11.6.4.Financial Overview
11.6.5.SWOT Analysis
11.6.6.Key Developments
11.7.LYONDELLBASELL INDUSTRIES HOLDINGS B.V.
11.7.1.Key Facts
11.7.2.Business Description
11.7.3.Products and Services
11.7.4.Financial Overview
11.7.5.SWOT Analysis
11.7.6.Key Developments
11.8.SABIC
11.8.1.Key Facts
11.8.2.Business Description
11.8.3.Products and Services
11.8.4.Financial Overview
11.8.5.SWOT Analysis
11.8.6.Key Developments
11.9.SHELL CHEMICALS
11.9.1.Key Facts
11.9.2.Business Description
11.9.3.Products and Services
11.9.4.Financial Overview
11.9.5.SWOT Analysis
11.9.6.Key Developments
11.10.TOTAL S.A.
11.10.1.Key Facts
11.10.2.Business Description
11.10.3.Products and Services
11.10.4.Financial Overview
11.10.5.SWOT Analysis
11.10.6.Key Developments
12.APPENDIX
12.1.ABOUT THE INSIGHT PARTNERS
12.2.GLOSSARY OF TERMS
The List of Companies
- Alpek S.A.B. de C.V.
- Americas Styrenics
- BASF SE
- Chevron Phillips Chemicals Company
- INEOS Styrolution Group GmbH
- LG Chem
- LyondellBasell Industries Holdings B.V.
- SABIC
- Shell Chemicals
- Total S.A.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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