Dominated by demand from APAC, global styrenic polymers market estimated to register CAGR of over 4.8% by 2021

08-Feb-17

The global styrenic polymers consumption is estimated to grow at a CAGR over 4.8% during 2016 to 2021, as per Market Research Future analysis. In 2012, global styrenic polymers market was dominated by Asia-Pacific, with a share of 53.2% of the global consumption. Europe accounted for 21.1% of the total styrenic polymers consumption in 2012 and is estimated to grow at a CAGR over 2.5% during 2016 to 2021. North America styrene polymer market is expected to have an above average growth rate

Styrenic polymers are produced through the polymerization of styrene monomers and other chemical compounds such as acrylonitrile, butadiene, etc. Production of styrene-based derivatives is the growing trend in the market due to increasing applications in building and construction, packaging, appliances, and automotive industry. The global Styrenic Polymer Market has been driven by factors such as growth in end-use industries, High growth in wind energy applications of UPR, Asia-Pacific to drive styrenic polymers demand, Increased SBR demand due to tire labeling regulations and few others. On the other hand, Increasing environmental and health concerns due to usage of styrene and Acceptance of other resins as substitute to UPR are hindering the global growth of Styrenic polymers market.

Asia-Pacific is the largest Styrenic Polymers Market due to the rapid development of infrastructure and also due to the presence of fastest growing economies such as China and India. Europe has considerable regulations which constrict the usage of polymers based on the products’ impact on environment.