The report "Styrenics Market – Polystyrene (Expanded, GPPS), Acrylonitrile Butadiene Styrene, SBR, UPR – Global Trends & Forecasts to 2018" defines and segments the global styrenic market with analysis and forecasting of volume consumed and revenue generated. The styrenic consumption will grow from an estimated 35,007 kilo tons in 2013 to 44,270 kilo tons by 2018, growing with a CAGR of 4.81% during the same period.
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Key content of this market:
The styrenics market is mainly driven by growing demand for end-use industries such as building and construction, packaging, automotive, and consumer goods. Rising need for infrastructure is driving the consumption of Polystyrene (PS) and Expanded Polystyrene (EPS) in the construction industry. Similarly, growing consumer goods demand and tire labeling regulations are expanding the market for Acrylonitrile Butadiene Styrene (ABS) and Styrene Butadiene Rubber (SBR) respectively. Unsaturated Polyester Resin (UPR) is consumed on a large scale in applications such as pipes & tanks, marine accessories, wind energy, etc.
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Asia-Pacific is driving the styrenics polymers market contributing more than 50% of the global demand. The other drivers include high growth in wind energy applications of UPR and increased SBR demand due to tire labeling regulations. Due to cost and performance advantages, UPR is widely used in the manufacturing of wind blades, rotors, ventilators, etc., thus ensuring high growth in wind energy applications. Similarly, tire labeling regulations, being adopted by different countries such as Germany, Japan, etc., has led to an increased SBR demand worldwide, especially in the automobile industry.
Styrene is highly volatile and when exposed, can be hazardous causing irritation to eyes, skin, respiratory system problems, dizziness, nervous system depression, etc. On incomplete combustion, it produces carbon monoxide and emits hazardous vapors on decomposition. The styrene-based polymers are non-biodegradable and need to be burned which can increase the explosion risks. These environmental and health concerns are the major restraints for market. However, absence of competitive substitutes which can replace styrenics is motivating the companies to continuously invest in this market.
Companies producing or planning to produce styrenics polymers in the near future are opting for expansion by introducing new facilities and increase in capacity. The styrenic polymers market is a highly diversified market consisting of different types of polymers, each having wide range of applications. Due to this, there are large numbers of players operating in the market engaged in the manufacturing of different styrene-based products for different applications.
The global market is witnessing high growth on account of the emerging construction and packaging industry. This has resulted from increasing demand for infrastructure facilities and consumer goods, especially in regions such as the Asia-Pacific.