Global Market Summary of Styrene
Global Market Summary of Styrene
Styrene (C 8 H 8 ) is a colourless to yellowish oily liquid with a characteristic aromatic odour and a high refractive index. It polymerizes slowly on rapidly and standing on heating into a clear and glossy solid. Styrene is usually available in two grades- Elastomer Grade and Polymer grade.
This report covers the market outlook and growth prospects of the global Styrene market for 2018-2023. The global Styrene market was valued at US$ 43 billion in 2018, growing at a CAGR of more than 2.5 % during 2012-2018. Looking forward, the global Styrene market is anticipated to touch US$ 60 billion by 2023, at a CAGR of 3% for the forecast period 2018-2023.
Styrene monomer is an intermediate product which is used in the production of homopolymer and copolymer of Polystyrene, Expanded Polystyrene (EPS), Styrene Butadiene Rubber (SBR), Styrene Acrylonitirile (SAN), Acrylonitrile Butadiene Styrene (ABS), Unsaturated Polyester Resin (UPR), etc. Amongst these, major growth is coming from consumer appliances, automobiles and consumer durables.
Currently, China is the leading consumer of Styrene as it has capacities for downstream applications. Region-wise, the market has been segmented into Africa, Europe, North America, Middle East, South America, Indian Sub- Continent, South East Asia, North East Asia, China and Australia.
The competitive landscape of the market has also been examined with some of the key players being Hanwha Total Petrochemical, Formosa Chemicals& Fibre Corporation, Lyondell Basell, Cos Mar, SABIC, Shell Petrochemicals, etc.
This report covers the global scenario on Styrene Industry, Region-wise Supply Demand Analysis and Future Demand Projections for above mentioned regions. For Indian scenario this report covers major producers, Supply, Demand, Market Drivers and Future Projection.