The styrene market is valued at US$64.374 billion in 2025 and is projected to grow at a CAGR of 5.57% over the forecast period.
The styrene market is valued at US$64.374 billion in 2025 and is projected to grow at a CAGR of 5.57% over the forecast period.— Knowledge Sourcing Intelligence
NEW YORK, NY, UNITED STATES, February 11, 2025 /
EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the
styrene market is projected to grow at a CAGR of 5.57% between 2025 and 2030.
Styrene is primarily used in the production of polystyrene plastics and resins. It is also used to create intermediate materials for ion exchange resins and to produce copolymers. Styrene is most commonly utilized in the
packaging industry due to its versatility, lightweight nature, good resistance, and thermal insulation properties. These characteristics make it suitable for a wide range of packaging applications.
The packaging market is expanding significantly, driven primarily by the rising demand for pharmaceutical materials, particularly due to the growing need for vaccines in various regions worldwide. This trend is prompting efforts to enhance healthcare systems, while an increasing geriatric population is contributing to higher global medicine consumption.
Additionally, the
food and beverage industry is experiencing high demand as a result of population growth, changing lifestyles, and food habits influenced by rising disposable incomes and urbanization. The cosmetic sector is also thriving; for instance, in 2023, cosmetic retail sales in Europe were valued at €96 billion, according to Cosmetics Europe. Furthermore, in 2023, the leading importers of plates made from non-reinforced polymers of styrene included France, Germany, the United States, the European Union, and Poland.
Access sample report or view details:
https://www.knowledge-sourcing.com/report/styrene-market
Based on type, the styrene market is divided into polystyrene, acrylonitrile butadiene styrene, styrene butadiene rubber, and others. Polystyrene is a very versatile and commonly used plastic that finds applications in packaging, insulation, and consumer goods. Acrylonitrile butadiene styrene is a plastic that is very durable and is prized for its impact resistance. It is suitable for automotive parts and appliances. Styrene butadiene rubber is a synthetic rubber that finds extensive use in tire manufacturing and other rubber products. The "others" category includes smaller segments like styrene acrylonitrile resins and unsaturated polyester resins, each with specific properties and applications within the broader styrene market.
By distribution channel, the styrene market is segmented into offline and online.
Based on end-user, the market encompasses packaging, construction, consumer goods, automotive, and others.
Geographically, the Asia Pacific region is expected to experience significant growth in the styrene market due to increasing applications in consumer electronics and consumer goods. In 2023, India was the top importer of styrene, with imports totaling 1,069,550,000 kg, while China ranked as the third-largest importer with 790,470,000 kg. According to the India Brand Equity Foundation, the Indian appliances and consumer electronics industry was valued at US$9.09 billion in 2022 and is projected to reach US$21.18 billion by 2025.
As a part of the report, the major players operating in the global styrene market that have been covered are Chevron Philips Chemical Company, Covestro AG, Hanwha Group, INOS, and LG Chem among others.
The market analytics report segments the global styrene market on the following basis:
• By Type
o Polystyrene
o Acrylonitrile Butadiene Styrene
o Styrene Butadiene Rubber
o Others
• By Distribution Channel
o Offline
o Online
• By End-User
o Packaging
o Construction
o Consumer Goods
o Automotive
o Others
• By Geography
• North America
o USA
o Canada
o Mexico
• South America
o Brazil
o Argentina
o Others
• Europe
o United Kingdom
o Germany
o France
o Italy
o Spain
o Others
• Middle East and Africa
o Saudi Arabia
o UAE
o Israel
o Others
• Asia Pacific
o China
o India
o Japan
o South Korea
o Taiwan
o Thailand
o Indonesia
o Others
• Companies Profiled
o Chevron Phillips Chemical Company
o Covestro AG
o Hanwha Group
o INEOS
o LG Chem
o LyondellBasell Industries Holdings BV
o Reliance Industries Ltd
o Repsol
o SABIC
o Shell PLC
o Versalis SpA (Eni SpA)
Reasons for Buying this Report:-
• Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, other sub-segments.
• Competitive Landscape: Understand the strategic maneuvers employed by key players globally to understand possible market penetration with the correct strategy.
• Market Drivers & Future Trends: Explore the dynamic factors and pivotal market trends and how they will shape future market developments.
• Actionable Recommendations: Utilize the insights to exercise strategic decision to uncover new business streams and revenues in a dynamic environment.
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Industry and Market Insights, Opportunity Assessment, Product Demand Forecasting, Market Entry Strategy, Geographical Expansion, Capital Investment Decisions, Regulatory Framework & Implications, New Product Development, Competitive Intelligence
Report Coverage:
• Historical data from 2022 to 2024 & forecast data from 2025 to 2030
• Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
• Competitive Positioning, Strategies, and Market Share Analysis
• Revenue Growth and Forecast Assessment of segments and regions including countries
Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)
Explore More Reports:
• Expanded Polystyrene Market:
https://www.knowledge-sourcing.com/report/expanded-polystyrene-eps-market
• Butadiene Market:
https://www.knowledge-sourcing.com/report/butadiene-market
• Solution Styrene Butadiene Rubber Market:
https://www.knowledge-sourcing.com/report/solution-styrene-butadiene-rubber-market
About Us
Knowledge Sourcing Intelligence (KSI) is a market research and intelligence provider that uses a combination of quantitative and qualitative research techniques to deliver comprehensive, in-depth insights to clients. Our approach to market research is centered around the concept of 'Knowledge Sourcing' - the process of gathering data and insights from multiple sources to create a comprehensive and well-rounded picture of the market. KSI's core services include market intelligence, competitive intelligence, customer intelligence, and product intelligence. KSI's approach to market research is designed to help clients make informed decisions, identify opportunities, and gain a better understanding of their target markets. By using a combination of primary and secondary research techniques, we provide clients with detailed insights into current market trends, customer profiles, competitor analysis, and product performance. KSI's market research and intelligence services enable clients to make informed decisions, develop strategic plans, and identify areas of opportunity.
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Knowledge Sourcing Intelligence LLP
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