Home > Chemicals & Materials > Polymers > Industrial Polymers > Styrenic Polymers Market

Styrenic Polymers Market Size

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

Download Free Sample

Styrenic Polymers Market Size

Styrenic Polymers market was valued at around USD 3.79 billion in 2023 and is anticipated to register a CAGR of over 6.5% between 2024 and 2032. Styrenic polymers, including polystyrene, ABS (Acrylonitrile Butadiene Styrene), and SAN (Styrene-Acrylonitrile), are favored in the automotive and transportation sector for their lightweight and durable characteristics, contributing to fuel efficiency and enhanced performance.

To get key market trends

Download Free Sample

In the building and construction industry, these polymers find applications in insulation, pipes, and various structural components. The packaging industry relies on styrenic polymers for their excellent molding capabilities, contributing to the production of rigid and transparent containers. Moreover, the consumer goods, medical, sports, leisure, and personal care sectors benefit from styrenic polymers' adaptability and cost-effectiveness, driving sustained demand for these materials in a multitude of applications worldwide.

Styrenic Polymers Market Report Attributes
Report Attribute	Details
Base Year:	2023
Styrenic Polymers Market Size in 2023:	USD 3.79 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	6.5%
2032 Value Projection:	USD 6.69 Billion
Historical Data for:	2018 - 2022
No. of Pages:	200
Tables, Charts & Figures:	136
Segments covered:	Product, End Use
Growth Drivers:	Increasing Demand for Lightweight and Sustainable Materials Rising Consumer Goods and Packaging Demands
Pitfalls & Challenges:	Environmental Concerns and Regulatory Pressures

Learn more about the key segments shaping this market

Download Free Sample

A potential pitfall for the styrenic polymers market lies in the growing environmental concerns associated with certain styrenic polymers, especially polystyrene, which is not easily biodegradable. This has led to increased regulatory pressures and consumer demands for more sustainable alternatives. As environmental consciousness continues to rise, manufacturers in the market may face challenges in addressing these concerns and adapting to stricter regulations, potentially impacting market growth.

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.