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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Styrene Market Growth
Acrylonitrile butadiene styrene is increasingly used as a displacement of polypropylene owing to its diverse properties and applications. It is extensively used in consumer electronics owing to its rigid, abrasive, and strain resistant properties. Moreover, it offers excellent surface quality as well as electrical insulating properties. This is also surging its use as an additive in the production of thermoplastics, which are used diversely, therefore augmenting the market growth. In addition, the market growth of styrene can be attributed to the growing use of acrylonitrile butadiene styrene plastic sheeting in various applications. It is used in the thriving automotive industry to reduce the overall weight of the vehicle while enhancing fuel efficiency.
Moreover, it also improves the durability of wheel covers, dashboards, and other body parts, owing to its low temperature resistance and high mechanical strength, hence bolstering the market growth of styrene. Styrene is also used as a raw material in plastic sheeting used for 3D printing as it offers low temperature melting point as well as durability. This, along with its cost-effectiveness, is increasing its use in prototyping in various industries ranging from cosmetics to machines. The heat and chemical resistant properties of styrene are increasing its application in various modern moulding techniques such as the plastic injection moulding process, consequently augmenting the market growth of styrene.
Styrene Market Report Snapshots
*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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Key Questions Answered in the Report
The global styrene market is projected to grow at a CAGR of 5% between 2024 and 2032.
The market is being driven by the growing use of acrylonitrile butadiene styrene owing to its favourable properties and the surging use of polystyrene in the construction and packaging industries.
The key trends of the market include the increasing research and development activities, and the rising demand for bio-based and sustainable styrene.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading product types of styrene in the market are polystyrene, acrylonitrile butadiene styrene, styrene acrylonitrile, and styrene-butadiene rubber, among others.
The significant end uses in the market are packaging, construction, consumer goods, and automotive, among others.
The key players in the global styrene market are Chevron Phillips Chemical Company, Kumho Petrochemicals Ltd., Royal Dutch Shell plc, INEOS Group, LyondellBasell Industries Holdings B.V., and BASF SE, among others.
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