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Styrenic Polymers Market Trends

Report ID: GMI7671
Published Date: Dec 2023
Report Format: PDF

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Styrenic Polymers Market Trends

With growing awareness of environmental concerns, manufacturers are exploring and adopting innovative solutions to enhance the recyclability and biodegradability of styrenic polymers. This involves the development of bio-based and recycled styrenic polymers to reduce dependency on fossil fuels and minimize the environmental impact. Additionally, there is a rising trend in the customization of styrenic polymers to meet specific industry and application requirements, fostering advancements in polymer formulations and processing technologies. The market is also witnessing a surge in research and development activities focused on creating high-performance styrenic polymers with enhanced properties, such as improved heat resistance and flame retardancy, catering to evolving industry demands and regulatory standards.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Styrenic polymers industry was valued at around USD 3.79 billion in 2023 and is estimated to reach USD 6.69 billion by 2032, owing to lightweight and durable characteristics of the product, contributing to fuel efficiency and enhanced performance of automotives.

Packaging segment held a major market share of around 30% in 2023 and is expected to grow at a lucrative pace through 2032, favored by an excellent balance of strength, transparency, and moldability offered by styrenic polymers, especially polystyrene and ABS.

Asia Pacific styrenic polymers industry accounted for USD 1.49 billion in 2023 and is anticipated to expand at a significant pace from 2024 to 2032, attributed to rapid industrialization, urbanization, and a burgeoning middle-class population.

INEOS Styrolution Group, BASF, Dow Chemical Company, LG Chem, China Petroleum & Chemical Corporation (Sinopec), Asahi Kasei Corporation, PTT Global Chemical Public Company Limited, Sumitomo Chemical Company, Limited and Trinseo.