Press release
The Future of Styrenics Market: Emerging Applications and Market Projections, 2030
Key Growth Drivers
The market's growth is fueled by increasing demand in wind energy applications, a surge in automotive industry usage, and growing demand for various plastics in the consumer sector. However, concerns regarding environmental and healthcare impacts pose challenges to market growth. Conversely, rapid infrastructure development in emerging economies presents new growth opportunities in the coming years.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ : https://www.alliedmarketresearch.com/request-sample/A12527
The polystyrene segment to maintain its lead position during the forecast period
Based on polymer type, the polystyrene segment contributed to the highest share in 2020, holding nearly one-third of the global styrenics market, and is estimated to maintain its lead position during the forecast period. The increase in demand for various disposable household products, electronic gadgets, and automobile has increased the demand for polystyrene market. However, the styrene butadiene rubber segment is estimated to register the highest CAGR of 6.5% from 2021 to 2030. The SBR has various applications in automobile industry as a pneumatic tire, in construction sector as a waterproofing, sealing and binding agent. It is also used as a binder in li-ion batteries.
The polystyrene segment to maintain its lead position during the forecast period
Based on polymer type, the polystyrene segment contributed to the highest share in 2020, holding nearly one-third of the global styrenics market, and is estimated to maintain its lead position during the forecast period. The increase in demand for various disposable household products, electronic gadgets, and automobile has increased the demand for polystyrene market. However, the styrene butadiene rubber segment is estimated to register the highest CAGR of 6.5% from 2021 to 2030. The SBR has various applications in automobile industry as a pneumatic tire, in construction sector as a waterproofing, sealing and binding agent. It is also used as a binder in li-ion batteries.
๐๐ฎ๐ซ๐๐ก๐๐ฌ๐ ๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐ฉ๐จ๐ซ๐ญ @ https://www.alliedmarketresearch.com/styrenics-market/purchase-options
Continued Dominance of the Automotive Segment
In the application segment, automotive held the highest revenue share in 2020 and is forecasted to maintain its dominant position during the forecast period. This is attributed to the rising demand for various transportation vehicles, especially personal vehicles and industrial trucks. Conversely, the building and construction segment is expected to exhibit the largest CAGR of 7.5% from 2021 to 2030 due to rapid population growth and increased demand for construction activities worldwide.
Fastest Growth in Asia-Pacific
Regionally, Asia-Pacific, followed by North America, is expected to witness the fastest CAGR of 6.7% during the forecast period. Asia-Pacific accounted for the highest market share in 2020 and is projected to maintain its leadership status by 2030. This growth is driven by investments in various infrastructure developments such as transportation, smart cities, and food storage.
๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ข๐ง ๐๐ซ๐จ๐๐ฎ๐ซ๐ข๐ง๐ ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ข๐ฌ๐ข๐ญ ๐๐๐ซ๐: https://www.alliedmarketresearch.com/styrenics-market/purchase-options
Key Market Players
Leading players in the styrenics market include Royal DSM, Sabic, The Dow Chemical Company, Total SA, Repsol SA, Asahi Kasei Corporation, BASF SE, Bayer Material Science, ENI S.P.A, and Ineos Group AG.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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