Styrenic Polymers Market Size, Share, Growth Analysis, By Product(Polystyrene (PS), Expanded Polystyrene (EPS), Acrylonitrile Butadiene Styrene (ABS), Styrene Butadiene Rubber (SBR)), By Application(Medical, Building & construction, packaging, automotive), By Region - Industry Forecast 2024-2031

Styrenic Polymers Market Driver

• Market expansion is primarily being driven by an increase in the usage of styrenic polymers in substitution of PVC in the healthcare sector. Styrenic polymers are increasingly being used in the medical sector to create high-performance, miniature medical devices, which is propelling market growth. These polymers make it simple to micro-mold medical devices.
• The increased usage of styrenic polymers in the automotive sector is one of the key drivers fueling market expansion. The most common vehicle uses are interior electroplated parts and unpainted external elements including front grilles, radiator grilles, side mirror housings, and rearview mirrors.
• Styrenic polymers kind of plastic are in high demand because of their superior mechanical properties. Additionally, these polymers provide simple disposal, design flexibility, lightweight, and superior aesthetics. These attributes of styrenic polymers are what are driving the market expansion.

Styrenic Polymers Market Restraint

• Due to its high volatility, styrene can be dangerous when exposed, leading to eye, skin, and respiratory irritation as well as difficulties with the nervous system, disorientation, and other symptoms. It produces carbon monoxide after incomplete burning and releases dangerous fumes during decomposition. The necessity to burn the styrene-based polymers increases the risk of an explosion since they cannot biodegrade. These issues with the environment and health are negatively impacting the market growth.
• It is anticipated that the market expansion would be hindered by the high cost of styrenic polymers in comparison to other thermoplastic materials. Among the most expensive materials are polystyrene and ABS. For instance, the average cost of ABS is over three times more than the PVC material with the lowest cost.