![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
Global Styrenics Market size was valued at USD 85.8 billion in 2022 and is poised to grow from USD 90.86 billion in 2023 to USD 143.73 billion by 2031, growing at a CAGR of 5.90% during the forecast period (2024-2031).
The thermoplastics derived from styrene are referred to as styrenics. It is a colourless oily organic compound found in small amounts in plants and a variety of foods such as vegetables, fruits, nuts, beverages, and meat, as well as in coal tar. The styrenics is made by polymerizing styrene monomers and compounds like acrylonitrile, butadiene, and others, and is widely used by multiple end user industries such as automotive, packaging, construction, and electronic appliance industries. Additionally, due to their multiple properties such as lightweight, durability, flexibility, thermal efficiency, and moisture resistance, styrenics is rapidly replacing metallic parts across a wide range of end-user industries.
The global styrenics market is expected to expand rapidly due to increased usage in end-user markets such as automotive and construction. Among the most common styrenics are polystyrene (PS), expanded polystyrene (EPS), styrene butadiene rubber (SBR), unsaturated polyester resin (UPR), and acrylonitrile butadiene styrene (ABS). The construction, packaging, and consumer goods industries are the primary users of polystyrene and expanded polystyrene. SBR is used in tyre manufacturing, whereas UPR is used in wind energy applications, pipe and tank manufacturing, and marine accessories. The expansion of the automotive, packaging, and construction industries is expected to boost the global market in the forecast period.
Furthermore, styrenics are efficient plastics that form the foundation of a family of major plastic products. Styrene is a vital building block in many products, including food and drink containers, packaging, rubber tyres, building insulation, carpet backing, computers, and reinforced fibreglass composites (boat hulls, surfboards, kitchen countertops, and others).
US Styrenics Market is poised to grow at a sustainable CAGR for the next forecast year.
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Report ID: SQMIG15A2118