The Global Styrene Market 2019-2023 Research Report provides idealistic and determined details of the Styrene Market, that assist you in promoting ideas with research-based factors. It offers in-depth data, refines variations of the worldwide Styrene market to help you in deciding the final strategy. The report features a thorough outlook of the market considering profitability, attractiveness, revenue, and CAGR.
The Styrene Market Research Report also focuses on leading industry Manufacturer with information such as company profiles, products, and services offered financial information throughout 2019 – 2023
- Americas Styrenics
- Ashland Inc.
- BASF SE
- Bayer AG
- Chevron Phillips Chemicals Company
- INEOS Styrolution Group GmbH
- LG Chem
- LyondellBasell Industries Holdings B.V.
- Mitsubishi Chemicals
- NIPPON STEEL & SUMIKIN CHEMICAL CO. LTD
- Perlite Construction Co.
- Shell Chemicals
- Shuangliang Leasty Chemical
- SINOPEC Qingdao Refining Corp. Ltd
- The Dow Chemicals Company
- Total Petrochemicals
The Styrene Market Report offers an accurate financial assessment of each leading Competitor based on their business data that includes estimation of gross margin, Styrene Market sales volume, profitability, pricing erection, product value, cost structure, revenue, and growth rate.
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Summary of Styrene Market:
The styrene market is expected to register a CAGR of 4.9% between 2019 and 2023. The market is likely to be fueled by increasing demand for expanded polystyrene in the construction industry. Furthermore, increase in consumption of styrene in the automotive industry is projected to boost the demand during the forecast period.
Increasing Demand for Expanded Polystyrene from the United States & Canadian Construction Industry
Expanded polystyrene (EPS) is one of the most popular materials used in the construction industry. One of the major reasons is its cost-effectiveness, along with its ideal physical and mechanical properties for insulation needs. EPS is used as insulation in roofs, walls, and foundations, and serves as an integral component of insulated concrete forms (ICFs), structural insulated panels (SIPs), and exterior insulation and finish systems (EIFS). The United States construction sector is expected to grow at a rapid rate, primarily driven by the residential and infrastructure sector. Few upcoming bridge projects are located at Adams, Beaver, Bedford & Bradford, Clearfield, Clinton, Franklin, Greene, Lancaster, etc., which are scheduled for completion in 2019. This trend is expected to augment the usage of EPS in the country. With the rapid rise of construction activities in the United States and Canada, the demand for expanded polystyrene (EPS) is set to increase during the forecast period.
Packaging is the Dominating Segment
Styrene is widely used in the packaging industry, owing to its properties, such as light weight, durability, flexibility, thermal efficiency, and moisture resistivity. Styrene is used for packing food products, such as fish, meat, fruits, milk products, processed foods, consumer durables, electronics, horticulture, heavy products, and fragile pharmaceutical products, among others. Furthermore, styrene also provides a cost-effective and environment-friendly packaging solution that does not emit chlorofluorocarbons (CFC) or hydro-chlorofluorocarbons (HCFC). Additionally, changing lifestyles and increasing popularity of packaged food are augmenting the growth of the market. Thus, with the growing packaging needs across the globe, the usage of styrene is projected to grow rapidly during the forecast period.
United States is the Largest Market
The United States is also the worlds second largest market for vehicle sales and production. It contributes around 3-3.5% to the countrys GDP. The production of light vehicles in the United States reached 11 million units in 2017. Honda, Ford Motors, and General Motors are some of the major manufacturers in the country. The sales of light vehicles reached 17.5 million units. Moreover, the production of electric vehicles in the country is expected to get a boost. Tesla, an electric vehicle manufacturer, was aiming to manufacture 5,000 units per week by the end of 2017 and increase the same to 10,000 units per week by 2019. Thus, with the rising demand from the end-user industries, the demand for styrene is set to grow rapidly during the forecast period.
Major Players: INEOS Styrolution Group GmbH, BASF SE, Bayer AG, LG Chem, and Ashland Inc., among others.
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Reasons to Purchase the Report:
Analyzing various perspectives of the market with the help of Porters five forces analysisIdentify the segments that are expected to dominate the marketIdentify the regions that are expected to witness fastest growth during the forecast periodIdentify the latest developments, market shares, and strategies employed by the major market players3 month analyst support, along with the Market Estimate sheet
The Styrene Market 2019-2023 Analysis objectives of the report are:
- To analyze Styrene Market regarding growth trends, anticipation and also their participation in the entire sector.
- To equitably share in-depth info regarding the vital elements influencing the increase of industry (growth capacity, probability, drivers and industry-specific challenges and risks).
- To know the Styrene Market by distinguishing its many sub-segments.
- To examine and study the market size (volume & value) from the company, essential regions/countries, products and application, background information from 2013 – 2019 and also prediction to 2023.
- To profile the Leading players in the industry and analyze their growth plans.
- To venture the amount and value of sub-markets, depending on key regions.
- Primary worldwide Antifouling Paints and Coatings Market manufacturing companies, to specify, clarify and analyze the product sales amount, value and market share, market rivalry landscape, SWOT analysis, and development plans next coming years.
- To examine competitive progress such as expansions, arrangements, new product launches and acquisitions on the market.
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The growth of this market worldwide is subjected to various factors; including consumer world-class Styrene Market of many Styrene Market products, inorganic company growth models, price volatility of raw materials, product innovation along with economic prospects in both producer and consumer countries.
In conclusion, Styrene Market report presents the descriptive analysis of the parent market based on elite players, present, past and futuristic data that will serve as a profitable guide for all the Styrene Market competitors.
Mr. Ajay More
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