Styrene
Monomer Market Size and Growth Rate:
According to the Research Report, the
Global styrene monomer market Size was valued at $41,690 million in 2016 and is
estimated to grow at a CAGR of 1.25% till 2023 to reach $45,280 million.
Browse
details of 130 number of pages research report developed Styrene Monomer Market
@
Styrene
Monomer Market Drivers and Restraints:
Occurring naturally in small
quantities in different foods and plants, styrene monomer is also found in coal
tar. Various types of styrene products such as acrylonitrile butadiene styrene,
expanded polystyrene and polystyrene are used for a wide range of applications
including automotive, construction, packaging and consumer goods amongst others.
The styrene market is highly branched, which includes various types of
derivatives, each having a wide range of applications across various sectors of
the market. The global demand for styrene has been on a high growth on account
of the emerging packaging and construction industry, which has led to an increasing
demand for infrastructure facilities and consumer goods, especially in emerging
regions.
Recent jump in benzene prices have led
to increasing cost of styrene product, which has hindered growth. The hindrance
of seasonally strong demand and low inventories with reduced styrene supply
from propylene oxide/styrene monomer (POSM) facilities has further propelled
styrene prices. Also, increasing health and environmental concerns due to
usage of styrene and acceptance of other resins as substitute to unsaturated
polyester resin (UPR) are expected to the hamper the growth of the market
because when exposed to the atmosphere, styrene can be hazardous, causing
irritation to skin, eyes, respiratory system and nervous system. It emits toxic
vapours and produces carbon monoxide on decomposition.
Styrene
Monomer Market Geographical Insights:
The major markets for this segment are
North America, Asia Pacific, Europe and Latin America. The overall production
of styrene has been relocating to emerging economies while developed
industrialized regions such as Western Europe and the U.S. have substantially
reduced their production capacities over the past few years. Asia Pacific
was the largest consumer for styrene monomer, closely followed by Europe.
Future market growth is expected to be from Asia Pacific on account of the growth
in wind energy applications.
Keyplayers
of the Styrene Monomer Market:
Some of the big manufacturers are
Alpek SAB DE CV, Ashland Inc., Bayer Materialscience, Ineos Group AG, Nova
Chemicals Corporation, Royal DSM, Styron LIC, Styrolution Group GmbH, The Dow
Chemical Company etc.
For
Any Queries Inquire More @ https://www.researchcosmos.com/inquire/styrene-monomer-market/699567257
About Us:
Research Cosmos is a provider of
standard and customized market research, business intelligence and consulting
services across more than 100 domains in different industries of the world. We
host the trending market reports of the world’s top-notch publishing companies,
offering services to a wide range of customers from students to fortune 500
companies and discloses the hidden opportunities in every leading industry of
the world.
Contact:
Kevin Stewart
Global Sales Manager
Research Cosmos
No comments:
Post a Comment