The global styrene market is expected to reach USD 73.81 Billion by 2028, according to a new report by Reports and Data. The growth of the market is attributed to the increasing demand for Styrene Plastics from the end-use industries.
Products made from Styrene Plastics provide exceptional benefits such as high performance, toughness, simplicity of production, flexible design, and economy along with the offering of sanitation, hygiene, and safety features. For instance, Styrene Plastics finds application in the strengthening of military armor, cushioning of bicycle helmets, making of wind power turbines, reduction of coal plant emissions, and improvement of components deployed in making automotive lightweight and fuel-efficient. Moreover, it allows the production of high-performance and economical recreational products, including boats and other watercraft.
SB (Styrene Plastics-butadiene) latex finds usage in several applications, such as coating in paper products like magazines, catalogs, flyers, and paperboard products to get improved printability, high gloss, and protection from oil and water. SB Latex increases the binding power of a pigment and makes the paper smoother, brighter, and stiffer. Additionally, it is very cost-effective as compared to other coating materials.
SB (Styrene Plastics-butadiene) rubber is a kind of synthetic that has improved processability, abrasion resistance, and heat resistance as compared to natural rubber. In terms of volume, it occupies the largest market share of synthetic rubber, and above 70.0% of it is consumed in the production of tires and related products. Thus, the growth of the automotive industry worldwide is likely to impact the market growth. Also, in comparison to polybutadiene rubber alone, this kind of synthetic rubber has better strength, abrasion resistance, and blend compatibility, and these characteristics can be enhanced with the use of additives.
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Market Overview:
The chemicals and materials industry produces a massive variety of products consumed by people across the world on a daily basis. While several products, namely detergents, perfumes, soaps, and others are bought directly by the consumers, the others are used as ingredients to make numerous products. For instance, in Europe, nearly 70% of the chemicals that are manufactured are used to make other products. The industry uses a wide range of raw materials ranging from oil, minerals, air, and others. With growing competition among industry players, innovation remains vital in discovering new paths to meet the needs of sophisticated, demanding, and environmentally conscious consumers.
The competitiveness within the chemical industry and among the chemicals, the chemical industry spends large amounts on research, particularly in the highly industrialized countries, which will foster market size in the coming years.
Competitive Landscape:
Industry players in the Styrene Plastics Monomer market are adopting the strategy of forwarding integration to cater to increasing product demand and to enhance their footprint in the global market.
This market report provides details of new recent developments, import-export analysis, trade regulations, production analysis, value chain optimization, market share, analyses opportunities in terms of emerging revenue pockets, the impact of domestic and localized market players, changes in the market, trends, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. The report offers insights into key factors influencing the revenue growth of the segment and provides information about lucrative investment opportunities to stakeholders, investors, and clients.
Top companies operating in the market and profiled in the report include:
Alpek SAB DE CV, Ashland Inc., Ineos Styrolution Group GmbH, Royal DSM, The Dow Chemical Company, LG Chem, Nova Chemicals Corporation, Bayer MaterialScience, Mitsubishi Chemicals, and Chevron Philips Chemical Company, among others.
Styrene Plastics Monomer Market Segmentation:
The report segments the Styrene Plastics Monomer markets on the basis of product types, end-use industries, technology, and region.
Application Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
- PolyStyrene Plastics Monomer
- Styrene Plastics Monomer Co-Polymers
- SB (Styrene Plastics Monomer-Butadiene) Latex
- SB (Styrene Plastics Monomer-Butadiene) Rubber
- Composites
- Others
Industry Vertical Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
- Packaging
- Construction
- Consumer Goods
- Automotive
- Electrical Electronics
- Others
Distribution Channel Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
- Offline Channel
- Online Channel
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