Styrene Market Size: Opportunities, Current Trends and Industry Analysis by 2025 | ENI S.p.A., INEOS Styrolution Holding Ltd., BASF, among others

A recent report published by QMI on the Styrene market is a detailed assessment of the most important market dynamics. After carrying out a thorough research of Styrene market historical as well as current growth parameters, business expectations for growth are obtained with utmost precision. The study identifies specific and important factors affecting the market for Styrene during the forecast period. It can enable manufacturers of Styrene to change their production and marketing strategies in order to envisage maximum growth.

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Understanding the chemistry and uses of Styrene
Styrene is an organic compound commonly known for ethenylbenzene, vinylbenzene, and phenylethene. The chemical formula of styrene is C6H5CH=CH2 which is a colorless oily organic compound. Styrene is produced by dehydrogenation of ethylbenzene method. It helps in producing latex, synthetic rubber, and other polystyrene resins. Styrene is mostly used in the packaging industry due to its characteristics such as lightweight, durability, flexibility, thermal efficiency, and moisture resistivity.

It helps in packaging products such as fish, meat, fruits, milk products, processed foods, consumer durables, electronics, horticulture, heavy products, and fragile pharmaceutical products. However, styrene is dangerous when subjected to the atmosphere, it emits toxic vapors and on decomposition generates carbon monoxide, and it can irritate the skin, eyes, respiratory system and nervous system.

Segmentation for better understanding of this market and its growth prospects

The global market for Styrene is segmented according to type and application. By type, this market is classified into polystyrene, polystyrene expanded, acrylonitrile butadiene styrene, styrene acrylonitrile, styrene butadiene latex, styrene-butadiene rubber, unsaturated polyester. Styrene is used in many applications in various industries including packaging, construction, consumer goods, automotive, electrical & electronics and others.This market is expected to boom in the automotive industry due to the styrene butadiene rubber (SBR) used in tire manufacturing. The global Styrene market is expected rapid growth in the Asia Pacific region due to the rapid growth of the automotive industry.

Key factors impacting market growth are the increasing demand for expanded polystyrene from the United States & Canadian construction industry and rapid growth of automotive industry

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Insights about regional distribution of market:
Based on region, the styrene market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. North America and Western Europe is some of the major markets are also traditional suppliers of chemicals such as specialty chemicals, bulk chemicals, and so on. Major companies in this market are headquartered in North America and Western Europe. This region has been witnessing the number of transitions in terms of productions of chemicals and respective applications by end-use industries.

The Asia Pacific and the Middle East are expected to register substantial growth in the styrene market during the forecast period. This demand is with regard to the growth of major end-use industries including Industrial, Marine, Automotive, Building & Construction, and others. Eastern Europe has been largely dominated by Russia and Turkey with operations of major chemical giants in the region. Rest the World that includes South America and Africa has a strong potential for the styrene market. There have been an increasing number of investments by global companies in these regions to strengthen their presence and tap the potential market. Major economies in these regions for the styrene market include Brazil, South Africa, Nigeria, Argentina, Colombia, and others.

Companies Covered: Chevron Phillips Chemical Company LLC, ENI S.p.A., INEOS Styrolution Holding Ltd., BASF, IneosStyrenics, IneosStyrolution, Shell Canada Ltd., Saudi Basic Industries Corp. (SABIC) and Total S.A.

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Market Segmentation:

By Type:
o Polystyrene
o Expanded Polystyrene
o Acrylonitrile Butadiene Styrene
o Styrene Acrylonitrile
o Styrene Butadiene Latex
o Styrene-butadiene Rubber
o Unsaturated Polyester

By Application:
o Packaging
o Construction
o Consumer Goods
o Automotive
o Electrical & Electronics
o Other

Region:
o North America
o By Country (US, Canada, Mexico)
o By Type
o By Application

o Western Europe
o By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
o By Type
o By Application

o Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Type
o By Application

o Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Type
o By Application

o Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Type
o By Application

o Rest of the World
o By Region (South America, Africa)
o By Type
o By Application

Reasons To Buy This Report:

o Market size estimation of the global Styrene market on a regional and global basis
o Unique research design for market size estimation and forecast
o Profiling of major companies operating in the market with key developments
o Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:
o By Segment
o By Sub-segment
o By Region/Country

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This release was published on openPR.