Pune, India -- (SBWire) -- 11/29/2018 --Global Styrenic Polymers Market - Synopsis
Polymerization of styrene in the presence of vinyl group results in the formation of the styrenic polymer. Styrene-based resins are widely used to produce a wide variety of everyday goods, ranging from cups and utensils to furniture, kitchen appliances, hospital and school supplies, boats, sports and recreational equipment, consumer electronics, durable, and lightweight packaging of all kinds.
Moreover, increasing demand from the prominent & already burgeoning end-use industries like automotive, electronics, construction, and healthcare (medical devices) is fostering the market growth to an extent. Increasing scope for Styrenic Polymer in the manufacturing of packaging is likely to boost the market growth. Furthermore, some of the recent developments in the styrenic polymer market, such as Styrolux and Styroflex materials, specially developed for food packaging by INEOS Styrolution are expected to offer significant opportunities in cosmetic and food industries, respectively, during the assessment period.
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On the other hand, increasing environmental and health concerns aroused due to the usage of styrene and uptake of other resins as the substitute to UPR, factors as such are likely to restrict the market growth Styrenic polymers during the review period. Also, volatility of prices & supply of feedstock hampers the market growth to a great deal.
Key Players:
The Global Styrenic Polymers Market is led by some of the fervent key players including SABIC (Saudi Arabia), BASF SE (Germany), Lanxess AG (Germany), Total S.A. (France), The Dow Chemical Company (US), NOVA Chemicals Corporation (Canada), Ashland (U.S.), INEOS Group AG (Switzerland), Bayer CropScience limited (Germany), DSM (Netherlands), JEC Group (France), Alpek S.A.B. de C.V. (Mexico), INEOS Styrolution Group GmbH (Germany), and Asahi Kasei Chemicals Corp. (Japan). Profiling them in its analysis, MRFR finds out their strategies keeping them at forefront of the competition.
Global Styrenic Polymers Market - Geographical Analysis
Globally, Asia Pacific is the largest market for Styrenic Polymers followed by the North America and Europe markets respectively. The growing industrialization coupled with the demand from burgeoning end-user industries in the region such as automotive, electrical & electronics food and cosmetic packaging industry help to bolster the regional market growth. Continuing with the same growth trends, APAC region is likely to retain its dominance in the global Styrenic Polymers market.
While the North America market stands as the second largest market for Styrenic Polymers owing to the presence of leading manufacturers in the region with the superior product offering. The region is estimated to be the major revenue pocket for the global Styrenic Polymers market by 2023.
The Europe market of Styrenic Polymers is rapidly expanding in the global market. Augmented demand for the product, backed by the well-developed industries such as automotive and personal home care industry in some of the European countries like Germany, Italy, France and the UK drives the growth of the regional market.
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Styrenic Polymer Market Share, Application Analysis, Regional Outlook, Competitive Strategies and Global Forecasts 2018 to 2023