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The Global Styrene Market - Forecast to 2023: Expected to Register a CAGR of ~2% - ResearchAndMarkets.com

November 26, 2018
The “The Global Styrene Market” report has been added to ResearchAndMarkets.com’s offering.According to a recently conducted research about the global styrene market, as an overall, it is projected to reach approximately 33,425 thousand tons by the end of 2023, increasing at a CAGR of around 2% per year in the period 2017-2023.The report focuses on both product and regional breakdown, offering a larger perspective on the market dynamics. Although styrene is predominantly used for the production of polystyrene, the analysis considers the application of styrene across various other fields. In particular, the largest share of styrene consumption is for the production of polystyrene, which accounted for around 36% of the total in volume terms. Meanwhile, the chemical’s application for MBS has been growing with the highest rate of about 5.06% per year. Regionally, the largest global styrene market was North East Asia, which accounted for about 50% of the total in volume terms. In comparison, Africa was the smallest global styrene market during the analyzed period and is expected to remain such in the medium term.The market has observed a significant volume growth in the past few years, despite cost pressures. This was mainly due to the interpolymer substitution that had already occurred in less technically demanding applications. Another emerging trend on the global styrene market is linked with developments in processes, products and applications for styrene polymers. Among the notable trends are customized nanostructured surfaces, weight reduction, improvements in application performance and safety, as well as the tailoring of commodity plastics to customers’ needs and their applications.Regionally, due to China’s investigations against the US much of China’s current styrene import demand is being met by suppliers in the Middle East. Meanwhile, there has been an improvement in US styrene margins, mainly caused by the process of consolidation, which resulted in fewer producers selling the material in the US. As for the European market, it is currently not a demand-driven, but rather a supply-driven one, while the lack of investment is leading to ageing plants.

The analytical research projects that the global production of styrene is likely to reach around 33,186 thousand tons by the end of 2023, expanding at a CAGR of about 2% per year. In addition, some of the main players on the styrene market are planning to open up additional production capacities in different regions. As a matter of fact, the CIS countries are anticipated to witness the fastest-paced capacity increase in the medium term. As far as the balance between supply and demand is concerned, the market is forecast to remain in a state of undersupply in most of the upcoming years.

The increasingly competitive landscape globally forces the chemical companies to focus on innovation and particularly on the development of Green Chemistry, which is becoming crucial for the overall future development of the companies. There are several fast dynamic research areas that can be identified such as nanotechnology, biotechnology, the development of biofuels as a supplement to oil supplies, as well as the expansion of water-based paints and the replacements for chlorofluorocarbons (CFCs). So in order to increase their profit, it is important for manufacturers within the chemical industry not only to cut their costs, but also to ensure that their processes and products conform with the pressing environmental issues.

Key Topics Covered

1. Introduction

2. Executive Summary

3. Characteristics of Styrene

4. State of the Global Demographics and Economy

5. Overview and Analysis of the Global Styrene Market

6. Overview and Analysis of the Global Production of Styrene

7. Characteristics and Analysis of the Global Prices of Styrene

8. Overview and Analysis of the Global Imports of Styrene

9. Overview and Analysis of the Global Exports of Styrene

10. Balance Between Supply and Demand On the Global Styrene Market

Companies FeaturedEgyptian StyrenicsTahrir PetrochemicalsIneos StyrolutionSynthos KralupyTotal PetrochemicalsBASFIneos StyrenicsTrinseoVersalisSynthos DworyIneos StyrolutionShell Canada Ltd.Cnooc And Shell PcCnooc Ningbo Daxie PcDagu ChemicalDaqing Sanju EnergyDaqing Zhonglan PcFujian Gulei PetrochemicalGuangdong Xinhuayue PcGuangxi South Gulf PcNingbo Huatai Wealthy Polymer Mat.Ningxia Baofeng EnergyPetrochina Lanzhou PcQingdao Haiwan GroupRizhao New Sanming Chemical IndustryShaanxi Yanchang PetroleumShandong Huaxing Pc GroupXinjiang Dushanzi TianliZhejiang PetrochemicalZhejiang Satell. PcPampa EnergiaCia Brasil. De EstirenoEdn Estireno Do NordestePetroquimica Innovaand many more...

For more information about this report visit https://www.researchandmarkets.com/research/j6w4w5/the_global?w=4

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Related Topics:Petrochemicals

KEYWORD:

INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 11/26/2018 08:28 AM/DISC: 11/26/2018 08:28 AM

http://www.businesswire.com/news/home/20181126005427/en

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