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Styrene Market Revenue, Product Launches, Regional Share Analysis & Forecast Till 2028 |Top Key Players Alpek SAB DE CV, Ashland Inc., Ineos Styrolution Group GmbH, Royal DSM,etc

09-14-2021 04:50 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Reports and Data

Styrene Market

Styrene Market

A comprehensive report on the Global Styrene Market has been published by Reports and Data that offers insightful data about market dynamics, drivers, restraints, current and emerging trends, market size, market share, and revenue growth of the market. The report provides a brief overview of the industry and gives an estimation of growth and revenue for the forecast period of 2021-2028. The global Styrene market is expected to be valued at USD 73.81 Billion by 2028 from 2020 and register a CAGR of 4.2% during the forecast period. The document offers reliable data in reference to key areas of investments and growth patterns of the Styrene market to help clients, stakeholders, investors, and businesses capitalization on the lucrative opportunities and make strategic investment plans.

The report covers market definitions, classifications, manufacturing and production processes, cost analysis, and government policies and plans. It offers details about the key factors that will positively and negatively impact the market growth over the forecast period. The report also provides pictorial representations of current and emerging trends, business scope, regional bifurcation, and key statistical data. For clear and easy understanding, the statistical data is represented in the form of graphs, charts, diagrams, tables, and figures. The report covers SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis to offer a comprehensive overview of the Styrene market.

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SB (Styrene-butadiene) latex finds usage in several applications, such as coating in paper products like magazines, catalogs, flyers, and paperboard products to get improved printability, high gloss, and protection to oil and water. SB Latex increases the binding power of a pigment and makes the paper smoother, brighter, and stiffer. Additionally, it is very cost-effective as compared to other coating materials.

SB (Styrene-butadiene) rubber is a kind of synthetic that has improved processability, abrasion resistance, and heat resistance as compared to natural rubber. In terms of volume, it occupies the largest market share of synthetic rubber, and above 70.0% of it is consumed in the production of tires and related products. Thus, the growth of the automotive industry worldwide is likely to impact the market growth. Also, in comparison to polybutadiene rubber alone, this kind of synthetic rubber has better strength, abrasion resistance, and blend compatibility, and these characteristics can be enhanced with the use of additives.

Key participants include Alpek SAB DE CV, Ashland Inc., Ineos Styrolution Group GmbH, Royal DSM, The Dow Chemical Company, LG Chem, Nova Chemicals Corporation, Bayer MaterialScience, Mitsubishi Chemicals, and Chevron Philips Chemical Company, among others.

Further key findings from the report suggest

By application, polystyrene contributed to the largest market share in 2018 and is expected to witness a growth rate of 3.9% during the forecast period. Applications of polystyrene comprises of general household appliances, cases for CD/DVD, toys, cutlery, electronic housings, housewares, refrigerator liners, containers, and packaging, among others.

By industry vertical, packaging industry dominated the market in 2018 and is likely to grow at a rate of 3.8% in the forecast period. Polystyrene finds extensive application in the packaging industry. Foam packaging peanuts for shipping, CD/DVD cases, food packaging, meat/poultry trays, and egg cartons are usually made with polystyrene to safeguard against spoilage or damage.

By distribution channel, offline channels held a larger market in 2018.

Europe, led by Western Europe, occupied the second-largest market share in 2018 and is estimated to grow at a rate of 3.7% during the forecast period. The high demand for styrene in the region is owing to the growth of the packaging and automotive. Besides, growing investments by market players in R&D of styrene solutions that are recycled and eco-friendly, is likely to drive the market demand in the region.

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For the purpose of this report, Reports and Data have segmented the global styrene market on the basis of application, industry vertical, distribution channel, and region:

Application Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)

Polystyrene

Styrene Co-Polymers

SB (Styrene-Butadiene) Latex

SB (Styrene-Butadiene) Rubber

Composites

Others

Industry Vertical Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)

Packaging

Construction

Consumer Goods

Automotive

Electrical & Electronics

Others

Distribution Channel Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)

Offline Channel

Online Channel

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Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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