What was the estimated global medical styrenic polymer market size in 2019?

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Medical Styrenic Polymers Market Share

Report ID: GMI1821
Published Date: Jul 2020
Report Format: PDF

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Medical Styrenic Polymers Market Share

Capacity expansion is one of the commonly witnessed strategies in the global market. The major companies in the medical styrenic polymers industry are seen to expand their manufacturing capacity to cater to a larger target market. Some of the key product producing companies include:

Styrolution group GmbH
BASF
Trinseo
SABIC
Chi Mei
Kraton
Chevron Phillips Chemical
Bayer MaterialScience
Nova Chemical
LG Chem
ELIX Polymers
Mitsubishi Chemical Holding
Ovation Polymers
Grupo Dynasol
Formosa Chemical & Fibre Corporation

Authors: Kiran Pulidindi

Frequently Asked Questions (FAQ) :

medical styrenic polymer market

The medical styrenic polymer market is likely to register a crcr of 5.7% over the forecast period.

Increasing preference for styrenic polymers as opposed to conventional polymers and metal on account of increasing environmental concerns will push the product demand.

Medical packaging applications held more than 20% of the overall market share in 2019 and will depict appreciable growth ahead, driven by product adoption in packaging for liquids, creams, powders, pharmaceutical capsules, and tablets.

Polystyrene has excellent characteristic such as good resistance to UV light sterilization process & ethylene oxide sterilization process, high flow consistency, etc., owing to which the segment may hold around 50% of the medical styrenic polymer market share by 2026.

High demand for medical instruments such as dry powder inhaler, disposable laboratory ware, medical drip chambers, etc., that use styrenic polymers, will push segment growth, poised to register 6.8% CAGR through 2026.

Medical styrenic polymers will gain heavy traction in North America owing to rising healthcare expenditure and stringent medical care norms. North America held the biggest revenue share of over 38% in 2019.