![Global Styrenics Market](https://res.cloudinary.com/devmoveo/image/upload/v1679918746/skyquest/gallery/Global-Styrenics-Market.jpg)
Report ID: SQMIG15A2118
Report ID:
SQMIG15A2118 |
Region:
Global |
Published Date: April, 2024
Pages:
184
|
Tables:
63 |
Figures:
77
On the basis of region, the global styrenics market is widespread into the regions of North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA). On account of rapid growth in the construction and packaging industries, Asia Pacific was the leading styrenics consumer. Emerging markets such as India, China, and Brazil are expected to witness positive growth over the forecast period due to rise in construction projects and growing automotive and packaging industries. Government initiatives in Asia Pacific are likely to promote wind energy and are expected to have a positive impact on the regional styrenics market.
Market saturation is expected to result in moderate growth in North America and Europe during the forecast period. This is attributable to the growing automotive industry, which uses styrenics for interior and exterior applications, Europe is expected to hold the second-largest market share in the global styrenics market. This is attributed to the rise in per capita income of people in this region and increase in demand for personal vehicles as the population grows. Styrene's increased use in packaging is driving the North American styrene market. Styrene is a suitable material for packaging applications in medical use and critical food, such as organ transplants, fish boxes, and processed food packaging, due to its superior insulating qualities and lack of bacterial sustenance.
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Report ID: SQMIG15A2118