Styrenics Market to Witness an Outstanding Growth by 2030
According to a report titled "Styrenics Market" by Allied Market Research, the global styrenics industry achieved a value of $76.6 billion in 2020 and is projected to reach $134.9 billion by 2030, with a compound annual growth rate (CAGR) of 5.9% from 2021 to 2030.Key Growth Drivers
The market's growth is fueled by increasing demand in wind energy applications, a surge in automotive industry usage, and growing demand for various plastics in the consumer sector. However, concerns regarding environmental and healthcare impacts pose challenges to market growth. Conversely, rapid infrastructure development in emerging economies presents new growth opportunities in the coming years.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ : https://www.alliedmarketresearch.com/request-sample/A12527
Styrene, an organic compound with a sweet smell that evaporates easily, serves as a precursor to several copolymers including polystyrene and unsaturated polyester. Polystyrene, a synthetic aromatic hydrocarbon derived from styrene monomer, finds extensive use in plastics due to its versatility. Factors such as population growth, rising income levels, and increased awareness of environmental issues contribute to the demand for styrenics. Governments worldwide are also promoting sustainable practices like wind energy to reduce greenhouse gas emissions.
Dominance of Polystyrene Segment
In terms of polymer type, the polystyrene segment led the market in 2020, capturing nearly one-third of the global share and is expected to maintain its dominance throughout the forecast period. The increased demand for disposable household products, electronic devices, and automobiles drives the demand for polystyrene. However, the styrene butadiene rubber segment is anticipated to register the highest CAGR of 6.5% from 2021 to 2030, owing to its various applications in the automotive and construction industries.
๐๐ฎ๐ซ๐๐ก๐๐ฌ๐ ๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐ฉ๐จ๐ซ๐ญ @ https://www.alliedmarketresearch.com/styrenics-market/purchase-options
Continued Dominance of the Automotive Segment
In the application segment, automotive held the highest revenue share in 2020 and is forecasted to maintain its dominant position during the forecast period. This is attributed to the rising demand for various transportation vehicles, especially personal vehicles and industrial trucks. Conversely, the building and construction segment is expected to exhibit the largest CAGR of 7.5% from 2021 to 2030 due to rapid population growth and increased demand for construction activities worldwide.
Fastest Growth in Asia-Pacific
Regionally, Asia-Pacific, followed by North America, is expected to witness the fastest CAGR of 6.7% during the forecast period. Asia-Pacific accounted for the highest market share in 2020 and is projected to maintain its leadership status by 2030. This growth is driven by investments in various infrastructure developments such as transportation, smart cities, and food storage.
๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ข๐ง ๐๐ซ๐จ๐๐ฎ๐ซ๐ข๐ง๐ ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ข๐ฌ๐ข๐ญ ๐๐๐ซ๐: https://www.alliedmarketresearch.com/styrenics-market/purchase-options
Key Market Players
Leading players in the styrenics market include Royal DSM, Sabic, The Dow Chemical Company, Total SA, Repsol SA, Asahi Kasei Corporation, BASF SE, Bayer Material Science, ENI S.P.A, and Ineos Group AG.
๐๐ข๐ฆ๐ข๐ฅ๐๐ซ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ :
High Speed Steels Market : https://www.alliedmarketresearch.com/high-speed-steels-market-A13668
High-temperature Composite Resin Market : https://www.alliedmarketresearch.com/high-temperature-composite-resin-market-A13669
Alpha Lipoic Acid Market : https://www.alliedmarketresearch.com/alpha-lipoic-acid-market-A13701
Composite Doors & Windows Market : https://www.alliedmarketresearch.com/composite-doors-and-windows-market-A13761
Contact:
David Correa
5933 NE Win Sivers
Drive#205, Portland
OR
97220United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Styrenics Market to Witness an Outstanding Growth by 2030 here
News-ID: 3471483 • Views: โฆ
More Releases from Allied Market Research
Luxury Hotel Market Huge Demand, High Growth Rate to Reach $160.4812 Billion by โฆ
According to a new report published by Allied Market Research, titled, "Luxury Hotel Market by Type, by Category: Global Opportunity Analysis and Industry Forecast, 2020-2031". The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends. The global luxury hotel market was valued at $95,113.00 million in 2020, and is projected to reach $160,481.23โฆ
Luxury Hotel Market Huge Demand, High Growth Rate to Reach $160.4812 Billion by โฆ
According to a new report published by Allied Market Research, titled, "Luxury Hotel Market by Type, by Category: Global Opportunity Analysis and Industry Forecast, 2020-2031". The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends. The global luxury hotel market was valued at $95,113.00 million in 2020, and is projected to reach $160,481.23โฆ
Why Invest in Augmented Reality Market Share Reach USD 411.4 Billion by 2031, Gr โฆ
According to the report published by Allied Market Research, Why Invest in Augmented Reality Market Share Reach USD 411.4 Billion by 2031, Growing at a CAGR of 33.2%. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitiveโฆ
Why Invest in Data Extraction Market Size Reach USD 4.90 Billion by 2027
According to the report published by Allied Market Research, Why Invest in Data Extraction Market Size Reach USD 4.90 Billion by 2027. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.
Rise in adoptionโฆ
More Releases for Styrenics
Styrenics Market Booming Worldwide Opportunity, Upcoming Trends & Growth Forecas โฆ
Styrenics Market 2021-2026
Straits Research has recently added a new report to its vast depository titled Global Styrenics Market.ย The report studies vital factors about theย Global Styrenics Marketย that are essential to be understood by existing as well as new market players. The report highlights the essential elements such as market share, profitability, production, sales, manufacturing, advertising, technological advancements, key market players, regional segmentation, and many more crucial aspects related to theย Global Styrenicsโฆ
Styrenics Resin Market to Witness Robust Expansion by 2025
LP INFORMATION recently released a research report on the Styrenics Resin market analysis, which studies the Styrenics Resin's industry coverage, current market competitive status, and market outlook and forecast by 2025.
Global โStyrenics Resin Market 2020-2025โ Research Report categorizes the global Styrenics Resin market by key players, product type, applications and regions,etc. The report also covers the latest industry data, key players analysis, market share, growthโฆ
Global Styrenics Market 2018 - Sinopec, Covestro, LyondellBasell Industries Hold โฆ
Eminent Market Reports, recently published a detailed market research study focused on the โStyrenics Marketโ across the global, regional and country level. The report provides 360ยฐ analysis of โStyrenics Marketโ from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global PP Pipe industry, and estimates the future trend of Styrenics on the basis ofโฆ
Global Styrene Monomer (SM) Market 2018 - FCFC, SADAF, Shell, Americas Styrenics
Apex Market Reports, recently published a detailed market research study focused on the โStyrene Monomer (SM) Marketโ across the global, regional and country level. The report provides 360ยฐ analysis of โStyrene Monomer (SM) Marketโ from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global PP Pipe industry, and estimates the future trend of Styreneโฆ
Styrenics 2018 Global Market Expected to Grow at CAGR 4.81% and Forecast to 2021
WiseGuyReports.Com Publish a New Market Research Report On โโ Styrenics 2018 Global Market Expected to Grow at CAGR 4.81% and Forecast to 2021โ.
The analysts forecast the global styrenics market to grow at a CAGR of 4.81% during the period 2017-2021.
Styrenics belong to the family of plastic products and use styrene as the key building block. Styrenics can easily be processed over a varied temperature range above its softening point. Thisโฆ
Global Styrenics Market Research Report 2017
In this report, the global Styrenics market is expected to reach high between 2016 and 2022.
Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Styrenics in these regions, from 2012 to 2022 (forecast), covering
โข North America
โข Europe
โข China
โข Japan
โข Southeast Asia
โข India
Global Styrenics market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
โข Sinopec
โข Covestro
โข LyondellBasell Industriesโฆ