(MENAFN- GlobeNewsWire - Nasdaq) Dublin, April 18, 2024 (GLOBE NEWSWIRE) -- The "Styrenic Polymer Market Report: Trends, Forecast and Competitive Analysis to 2030" report has been added to ResearchAndMarkets's offering.
The future of the global styrenic polymer market looks promising with opportunities in the building & construction, automotive, packaging, medical, electrical & electronic, and consumer good markets. The global styrenic polymer market is expected to reach an estimated $6.3 billion by 2030 with a CAGR of 4.4% from 2024 to 2030.
The major drivers for this market are growing demand for lightweight materials, shift towards sustainable packaging materials, and increasing demand from the medical industry.
Styrenic Polymer Market Insights
The report forecasts that acrylonitrile butadiene styrene is expected to witness the highest growth over the forecast period due to its properties, such as good chemical, heat resistance, and high impact strength at low temperatures. Within this market, medical will remain the largest segment due to growing demand for manufacturing high-performance and miniaturized medical devices. North America will remain the largest region over the forecast period due to rising healthcare expenditure, as well as stringent health standards and regulations in the region.
Styrenic Polymer Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies styrenic polymer companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base.
Some of the styrenic polymer companies profiled in this report include:
BASF Lanxess SABIC Trinseo The Dow Chemical Chevron Philips Chemical Chi Mei Nova Chemicals Asahi Kasei Styron
Key Report Features
Market Size Estimates: Styrenic polymer market size estimation in terms of value ($B). Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions. Segmentation Analysis: Styrenic polymer market size by product, application, and region in terms of value ($B). Regional Analysis: Styrenic polymer market breakdown by North America, Europe, Asia Pacific, and Rest of the World. Growth Opportunities : Analysis of growth opportunities in different products, applications, and regions for the styrenic polymer market. Strategic Analysis : This includes M&A, new product development, and competitive landscape of the styrenic polymer market. Analysis of competitive intensity of the industry based on Porter's Five Forces model.
Styrenic Polymer by Segment
The study includes a forecast for the global styrenic polymer by product, application, and region.
Styrenic Polymer Market by Product:
Polystyrene Acrylonitrile Butadiene Styrene Expanded Polystyrene Unsaturated Polyester Resin Styrene-Butadiene Rubber Others
Styrenic Polymer Market by Application:
Building & Construction Automotive Packaging Medical Electrical& Electronics Consumer Goods Others
Styrenic Polymer Market by Region:
North America Europe Asia Pacific The Rest of the World
This report answers the following key questions:
What are some of the most promising, high-growth opportunities for the styrenic polymer market by product (polystyrene, acrylonitrile butadiene styrene, expanded polystyrene, unsaturated polyester resin, styrene-butadiene rubber, and others), application (building & construction, automotive, packaging, medical, electrical& electronics, consumer goods, and others), and region? Which segments will grow at a faster pace and why? Which region will grow at a faster pace and why? What are the key factors affecting market dynamics? What are the key challenges and business risks in this market? What are the business risks and competitive threats in this market? What are the emerging trends in this market and the reasons behind them? What are some of the changing demands of customers in the market? What are the new developments in the market? Which companies are leading these developments? Who are the major players in this market? What strategic initiatives are key players pursuing for business growth? What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution? What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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