Styrenic polymers are a class of polymers derived from styrene monomer. The market comprises polymers such as polystyrene (PS), acrylonitrile butadiene styrene (ABS), styrene-acrylonitrile resin (SAN), and styrene-butadiene rubber (SBR). These polymers find wide applications in the construction, automotive, consumer goods, electrical & electronics, and healthcare industries. Styrenic polymers have thermoplastic properties and offer advantages like economic pricing, mechanical strength, chemical resistance, and durability. They are preferably used to manufacture a variety of goods from electronic components to disposable cutlery.

The global styrenic polymers market is estimated to be valued at US$59.7 billion in 2024 and is expected to exhibit a CAGR of 7.0% over the forecast period 2024-2031.

Key Takeaways

Key players operating in the styrenic polymers market are BASF SE, SABIC, INEOS Styrolution Group GmbH, Total, LG Chem, Chi Mei Corporation, ENI S.p.A, Bayer AG, Nova Chemicals Corporation, and Formosa Chemicals & Fibre Corporation.

The market is expected to witness growth opportunities due to rising demand for durable, cost-effective, and lightweight materials from construction and automotive industries. The growing electronics and consumer goods sectors are also augmenting the demand.

The Styrenic Polymers Market Demand is estimated to see high in Asia Pacific owing to rapid industrialization and urbanization in developing economies such as China and India. North America and Europe are also expected to present remunerative opportunities for expansion over the forecast period.

Market Drivers

The rapid growth of the construction industry, especially in developing nations, has been a key driver for the styrenic polymers market. Styrenics find widespread application in producing cement products, roofing & flooring materials, insulation panels, pipes & fittings, and other components used in residential & commercial construction. According to estimates, the global construction industry is projected to reach US$15.2 trillion by 2030. Hence, rising construction activities will positively influence styrenic polymers demand.

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