Styrenic Polymers Market Size, Share, Trends, Application 2023 - BASF SE, SABIC, Lanxess AG, The Dow Chemical Company, Total S.A., NOVA Chemicals Corporation, INEOS Group AG, Ashland, Bayer CropScience limited, JEC Group, DSM and INEOS Styrolution Group G

Synopsis of Styrenic Polymer Market

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

Segmental Analysis

The Global Styrenic Polymer Market is segmented into Product and End-Use Industries. On the Basis of Product, the market is segregated into polystyrene, expanded polystyrene, acrylonitrile butadiene styrene, styrene butadiene rubber, and unsaturated polyester rubber. The market by end-user is further segmented into automotive, building & construction, consumer goods, electrical & electronics, marine accessories, packaging, and others.

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Intended Audience

Styrenic Polymer Market Manufacturers
Traders and Distributors of Styrenic Polymer Market
Production Process Industries
Potential Investors
Regional Analysis

The Styrenic Polymer Market is segmented across five regions: Europe, Latin America, Asia Pacific, North America, and the Middle East & Africa. Among these, Asia Pacific is the largest market and is expected to grow at a higher CAGR, due to the growing industrialization and urbanization, especially in China and India. Moreover, the increasing production and sales of automotive in the region have propelled the market growth. The Japanese and Chinese electrical & electronics industries consume a majority of styrenic polymer, further driving the market growth. The increasing demand for the product from emerging food and cosmetic packaging industries is likely to surge the market demand.

North America and Europe are expected to showcase considerable growth due to the technological advancements in automotive manufacturing. The lavish lifestyle coupled with high disposable income is the major factor, driving the market growth in this region. The U.S. is the largest automotive market and can be attributed to the growing demand for efficient and lightweight vehicles. Furthermore, the pharmaceutical base located in the U.S. is likely to consume a significant amount of Styrenic Polymer. Developed personal home care industries in the European region is anticipated to drive the European market positively. The major countries attributing to this growth are Germany, Italy, and the U.K among others.

Rising infrastructural activities in the Middle East & Africa are anticipated to propel the market growth, in terms of volume, during the review period.

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