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Styrene, alternatively known as cinnamene or ethenylbenzene, is a colorless liquid which evaporates quickly and has a sweet smell. It is insoluble in water and is naturally found in a variety of vegetables and fruits. It is a synthetic chemical that is used extensively in the production of fiberglass, plastic, automotive parts, rubber, and food containers, among others.
The global styrene market stood at a volume of around of 33,500 KT in the year 2023. The market is estimated to grow at a CAGR of 3.0% between 2025 and 2034 to reach a volume of about 43,625 KT by 2032. Polystyrene (PS), expandable polystyrene (EPS), and acrylonitrile-butadiene-styrene (ABS) resins, among other types, are the most significant segments driving styrene consumption. In 2023, these segments together made up nearly 75% of total styrene consumption. Polystyrene is a versatile plastic that has a wide range of applications, including packaging materials, disposable utensils, and consumer products. Its growing demand for various purposes supports the use of styrene. Some of the major application sectors for styrene include packaging, synthetic glycerin, construction, consumer goods, and automotive, among others. In the packaging industry, styrene is highly valued for its properties like lightweight, clarity, impact resistance, versatility, and thermal insulation.
The global capacity of styrene was about 43,500 KT in the year 2023. It is estimated to reach 51,000 by 2032. The plant capacity utilization of styrene remained 79% in 2023.
In terms of demand, the Asia Pacific region leads the market with an estimated 65% share. North America and Europe are the other significant markets. Within the Asia Pacific, the robust growth of the packaging sector, increasing demand for automotive components, and the growing investments in construction projects support the applications of styrene and add to its consumption. China and ASEAN countries are some of the significant regional markets.
Shell plc is the world's leading producer of styrene. Shell produces a range of base chemicals, which include ethylene, aromatics, and intermediate chemicals like styrene monomer, solvents, ethylene glycol, and many more. The company holds approximately 6.8% of the global styrene capacity.
Other major manufacturers of styrene are China Petrochemical Corp, INEOS Group Ltd., Total Energies SE, LyondellBasell Industries N.V., Royal Dutch Shell plc, BASF SE, Chevron Phillips Chemical Company, Trinseo, SABIC, Covestro AG, LG Chem Ltd., and Repsol S.A.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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