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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Styrenic polymers are produced by polymerization of styrene monomers and compounds such as acrylonitrile and butadiene. Styrenic polymers are widely used across the automotive industry, packaging, construction, and electronic appliances. These polymers are rapidly replacing metallic parts across various end-user industries.

The global styrenic polymers market is estimated to account for US$ 3,056.2 Mn in terms of value and 1,160.7 Kilo Tons in terms of volume by the end of 2019.

Drivers:

Increasing use of styrenic polymers in place of PVC across the healthcare industry is predominantly fueling market growth. Due to various potential health threats associated with the PVC there is a restriction on the use of PVC materials. This is creating demand for plastic such as styrenic polymers as they exhibit excellent mechanical performance. Moreover, these polymers also offer easy disposability, design versatility, lightweight, and better aesthetics. All these properties of the styrenic polymers are propelling the market growth.

The growing use of styrenic polymers in the medical industry for developing high-performance and miniaturized medical devices is propelling the market growth.  Medical devices can be easily micro-molded by using such plastics.

Figure 1. Global Styrenic Polymers Market Share (%) in terms of Value, By Region, in 2019

Styrenic Polymers  | Coherent Market Insights

North America region dominated the global styrene polymers market in 2019, accounting for 39.9% share in terms of value.

Market Restraints

The high price of the styrenic polymers compared to other thermoplastic materials is projected to hinder the market growth. Polystyrene and ABS are two major materials that have a high price. For example, the average price of ABS is almost three times that of the lowest priced PVC.

The volatile price of crude oil due to the political scenario as raw materials used in the manufacturing of styrenic polymers are derived from crude oil is expected to hamper the market growth.

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Styrenic polymers Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 3,056.2 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 7.5% 2027 Value Projection: US$ 5,442.7 Mn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Africa
Segments covered:
  • By Product Type: Polystyrene, ABS, SAN, MBS, MABS, SMMA, SBS, SEBS and Others
Companies covered:

Styrolution Group GmbH, Americas Styrenics LLC, Styron LLC (Trinseo S.A.), Saudi Basic Industries Corporation, Chi Mei Corporation, Kraton Polymers LLC, INEOS ABS (USA) Corporation, Chevron Phillips Chemical Company LLC, Bayer MaterialScience AG, Nova Chemicals Corporation

Growth Drivers:
  • The growing use of styrenic polymers in the medical industry is propelling the market growth.
  • Increasing use of styrenic polymers in place of PVC across the healthcare industry is predominantly fueling market growth.
Restraints & Challenges:
  • The high price of the styrenic polymers compared to other thermoplastic materials is projected to hinder the market growth.

Market Opportunities

The growing use of styrenic polymers for producing medical devices such as storage of IV fluids, blood bags, dialysis solutions, and tubings is expected to offer lucrative opportunities. Robust demand for thermoplastic elastomers from medical and healthcare industry is creating profitable opportunities for the styrenic polymers market.

Increasing R &D by manufacturers to explore more properties of styrenic polymers is projected to bring new market opportunities over the forecast period. Growing demand for technically advanced and more flexible products are encouraging manufacturers to invest in the R & D to develop for a more innovative product. Thus growing investment in R &D by manufacturer is projected to offer enormous potential opportunities over the forecast period.

Figure 2. Global Styrenic Polymers Market– Opportunity Analysis

Styrenic Polymers  | Coherent Market Insights

Market Trends/Key Takeaways

Continuous product innovation is a key trend in the market and this is expected to propel the market growth. For instance, in June 2019, Versalis, a producer of styrenic polymers owned by Eni, has launched an innovative type of expandable polystyrene (EPS), under the trademark Extir FL 3000.

The increasing focus of the manufacturer on expanding the production capacity of the products is one of the current trend. For instance, in August 2017, Ineos Styrolution announced that it is increasing its compounding capacity for acrylonitrile butadiene styrene (ABS) and acrylonitrile styrene acrylate (ASA) plastics by an additional 34,000 tonnes per annum at its Moxi plant located in Gujarat, India. This expansion involve a capital expenditure of $20 million.

Figure 3. Global Styrenic Polymers Market Share (%) in terms of Value, By Product Type, in 2019

Styrenic Polymers  | Coherent Market Insights

On the basis of product type in 2019, the polystyrene segment has accounted the largest market share of 51.7% in terms of value, followed by SEBS and ABS segment respectively.

Global Styrenic Polymers Market - Impact of Coronavirus (Covid-19) Pandemic

The styrenic polymers market is expected to grow at a significant rate during the forecast period as the demand for medicine and pharmaceutical industry is rising. The demand for pharmaceutical products due to the coronavirus has peaked thereby, increasing the demand for styrenic polymers market.

Competitive Section:

Company Names 

  1. Styrolution Group GmbH
  2. Americas Styrenics LLC
  3. Styron LLC (Trinseo S.A.)
  4. Saudi Basic Industries Corporation
  5. Chi Mei Corporation
  6. Kraton Polymers LLC
  7. INEOS ABS (USA) Corporation
  8. Chevron Phillips Chemical Company LLC
  9. Bayer MaterialScience AG
  10. Nova Chemicals Corporation

Few Recent Developments

In August 2017, Ineos Styrolution announced that it is increasing its compounding capacity for acrylonitrile butadiene styrene (ABS) and acrylonitrile styrene acrylate (ASA) plastics by an additional 34,000 tonnes per annum at its Moxi plant located in Gujarat, India. This expansion involve a capital expenditure of $20 million.

Styrenic polymers are manufactured by polymerization of styrene monomers and is widely used substitute for a number of metallic parts used in various end user industries. Styrenic polymers offers wide range of products across various industries such as construction, packaging, electronic appliances and automotive industries.

Market Dynamics

The growing popularity of the ABS plastic materials across the medical industry is projected to propel the market growth. In addition, increasing R &D by manufacturers to explore more properties of styrenic polymers is projected to bring new market opportunities over the forecast period.

Development of new styrenic polymers with high performace for applications in a number of industries such as medical industries is supporting market growth. Moreover, rapid growth in the medical packaging industry is expected to drive the overall growth of the market over the forecast period.

Key features of the study:

  • This report provides in-depth analysis of the global styrenic polymers  market and provides market size (US$ Million & Kilo Tons) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by key players
  • This study also provides impact analysis of Coronavirus (Covid-19) pandemic on global styrenic polymers market.
  • It profiles key players in the global styrenic polymers  market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study Styrolution Group GmbH, Americas Styrenics LLC, Styron LLC (Trinseo S.A.), Saudi Basic Industries Corporation, Chi Mei Corporation, Kraton Polymers LLC, INEOS ABS (USA) Corporation, Chevron Phillips Chemical Company LLC, Bayer MaterialScience AG, Nova Chemicals Corporation
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The global styrenic polymers  market report caters to various stakeholders in this industry including investors, suppliers, global styrenic polymers  manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global styrenic polymers  market

Detailed Segmentation:

  • Global Styrenic polymers Market, By Product Type:
    • Polystyrene
    • ABS
    • SAN
    • MBS
    • MABS
    • SMMA
    • SBS
    • SEBS
    • Others
  • Global Styrenic polymers  Market, By Region:
    • North America
      • U.S.
        • By Product Type:
          • Polystyrene
          • ABS
          • SAN
          • MBS
          • MABS
          • SMMA
          • SBS
          • SEBS
          • Others
      • Canada
        • By Product Type:
          • Polystyrene
          • ABS
          • SAN
          • MBS
          • MABS
          • SMMA
          • SBS
          • SEBS
          • Others
    • Europe
      • U.K.
        • By Product Type:
          • Polystyrene
          • ABS
          • SAN
          • MBS
          • MABS
          • SMMA
          • SBS
          • SEBS
          • Others
      • Germany
        • By Product Type:
          • Polystyrene
          • ABS
          • SAN
          • MBS
          • MABS
          • SMMA
          • SBS
          • SEBS
          • Others
      • France
        • By Product Type:
          • Polystyrene
          • ABS
          • SAN
          • MBS
          • MABS
          • SMMA
          • SBS
          • SEBS
          • Others
      • Italy
        • By Product Type:
          • Polystyrene
          • ABS
          • SAN
          • MBS
          • MABS
          • SMMA
          • SBS
          • SEBS
          • Others
      • Spain
        • By Product Type:
          • Polystyrene
          • ABS
          • SAN
          • MBS
          • MABS
          • SMMA
          • SBS
          • SEBS
          • Others
      • Russia
        • By Product Type:
          • Polystyrene
          • ABS
          • SAN
          • MBS
          • MABS
          • SMMA
          • SBS
          • SEBS
          • Others
      • Rest of Europe
        • By Product Type:
          • Polystyrene
          • ABS
          • SAN
          • MBS
          • MABS
          • SMMA
          • SBS
          • SEBS
          • Others
    • Asia Pacific
      • China
        • By Product Type:
          • Polystyrene
          • ABS
          • SAN
          • MBS
          • MABS
          • SMMA
          • SBS
          • SEBS
          • Others
      • India
        • By Product Type:
          • Polystyrene
          • ABS
          • SAN
          • MBS
          • MABS
          • SMMA
          • SBS
          • SEBS
          • Others
      • Japan
        • By Product Type:
          • Polystyrene
          • ABS
          • SAN
          • MBS
          • MABS
          • SMMA
          • SBS
          • SEBS
          • Others
      • ASEAN
        • By Product Type:
          • Polystyrene
          • ABS
          • SAN
          • MBS
          • MABS
          • SMMA
          • SBS
          • SEBS
          • Others
      • Australia
        • By Product Type:
          • Polystyrene
          • ABS
          • SAN
          • MBS
          • MABS
          • SMMA
          • SBS
          • SEBS
          • Others
      • South Korea
        • By Product Type:
          • Polystyrene
          • ABS
          • SAN
          • MBS
          • MABS
          • SMMA
          • SBS
          • SEBS
          • Others
      • Rest of Asia Pacific
        • By Product Type:
          • Polystyrene
          • ABS
          • SAN
          • MBS
          • MABS
          • SMMA
          • SBS
          • SEBS
          • Others
    • Latin America
      • Brazil
        • By Product Type:
          • Polystyrene
          • ABS
          • SAN
          • MBS
          • MABS
          • SMMA
          • SBS
          • SEBS
          • Others
      • Mexico
        • By Product Type:
          • Polystyrene
          • ABS
          • SAN
          • MBS
          • MABS
          • SMMA
          • SBS
          • SEBS
          • Others
      • Rest of Latin America
        • By Product Type:
          • Polystyrene
          • ABS
          • SAN
          • MBS
          • MABS
          • SMMA
          • SBS
          • SEBS
          • Others
    • Middle East & Africa
      • Middle East
        • By Product Type:
          • Polystyrene
          • ABS
          • SAN
          • MBS
          • MABS
          • SMMA
          • SBS
          • SEBS
          • Others
      • Africa
        • By Product Type:
          • Polystyrene
          • ABS
          • SAN
          • MBS
          • MABS
          • SMMA
          • SBS
          • SEBS
          • Others
  • Company Profiles
    • Styrolution Group GmbH
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Americas Styrenics LLC
    • Styron LLC (Trinseo S.A.)
    • Saudi Basic Industries Corporation
    • Chi Mei Corporation
    • Kraton Polymers LLC
    • INEOS ABS (USA) Corporation
    • Chevron Phillips Chemical Company LLC
    • Bayer MaterialScience AG
    • Nova Chemicals Corporation

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Mergers and Acquisitions
      • New Product Approvals/Launch
      • Promotion and Marketing Initiatives
    • Cost Tier Down Analysis
  4. Global Styrenic Polymers Market– Impact of Coronavirus (Covid-19) Pandemic
    • Impact of Coronavirus – Overview
    • Impact Analysis, By Region
      • North America
      • Latin America
      • Europe
      • Asia Pacific
      • Middle East
      • Africa
  5. Global Styrenic Polymers Market , By Product Type, 2017 - 2027 (US$ Million & Kilo Tons)
    • Introduction
      • Market Share Analysis, 2017 and 2027
      • Y-o-Y Growth Analysis, 2020 – 2027 (%)
      • Segment Trends
    • Polystyrene
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million & Kilo Tons)
    • ABS
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million & Kilo Tons)
    • SAN
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million & Kilo Tons)
    • Cosmetics
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million & Kilo Tons)
    • MBS
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million & Kilo Tons)
    • MABS
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million & Kilo Tons)
    • SMMA
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million & Kilo Tons)
    • SBS
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million & Kilo Tons)
    • SEBS
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million & Kilo Tons
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million & Kilo Tons)
  6. Global Styrenic Polymers Market , By Region, 2017- 2027 (US$ Million & Kilo Tons)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027
      • Y-o-Y Growth Analysis, By Region, 2020 – 2027 (%)
    • North America
      • Market Share Analysis, By Country, 2017 and 2027
      • Y-o-Y Growth Analysis, By Country, 2020 – 2027 (%)
        • U.S.
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Kilo Tons)
        • Canada
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Kilo Tons)
    • Europe
      • Market Share Analysis, By Country, 2017 and 2027
      • Y-o-Y Growth Analysis, By Country, 2020 – 2027 (%)
        • U.K.
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Kilo Tons)
        • Germany
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Kilo Tons)
        • France
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Kilo Tons)
        • Italy
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Kilo Tons)
        • Spain
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Kilo Tons)
        • Russia
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Kilo Tons)
        • Rest of Europe
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Kilo Tons)
    • Asia Pacific
      • Market Share Analysis, By Country, 2017 and 2027
      • Y-o-Y Growth Analysis, By Country, 2020 – 2027 (%)
        • China
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Kilo Tons)
        • India
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Kilo Tons)
        • Japan
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Kilo Tons)
        • ASEAN
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Kilo Tons)
        • Australia
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Kilo Tons)
        • South Korea
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Kilo Tons)
        • Rest of Asia Pacific
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Kilo Tons)
    • Latin America
      • Market Share Analysis, By Country, 2017 and 2027
      • Y-o-Y Growth Analysis, By Country, 2020 – 2027 (%)
        • Brazil
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Kilo Tons)
        • Mexico
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Kilo Tons)
        • Argentina
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Kilo Tons)
        • Rest of Latin America
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Kilo Tons)
    • Middle East & Africa
      • Market Share Analysis, By Sub-Region, 2017 and 2027
      • Y-o-Y Growth Analysis, By Sub-Region, 2020 – 2027 (%)
        • Middle East
          • Sub-region Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Kilo Tons)
        • Africa
          • Sub-region Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Kilo Tons)
  7. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis (3x3 Matrix)
    • Company Profiles
      • Styrolution Group GmbH
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Americans Styrenics LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Styron LLC (Trinseo S.A.)
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Saudi Basic Industries Corporaion
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Chi Mei Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Kraton Polymers LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • INEOS ABS (USA) Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Chevron Philips Chemical Company LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Bayer Material Science AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Nova Chemicals Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

Frequently Asked Questions

The market for styrenic polymers is estimated to surpass US$ 5,442.7 million by 2027, exhibiting a CAGR of 7.5% between 2020 and 2027.
The growing use of styrenic polymers in the medical industry for developing high-performance and miniaturized medical devices is propelling the market growth.
The styrenic polymers market is expected to exhibit a CAGR of 7.5% during the forecast period (2020-2027).
Major players operating in the global styrenic polymers market includes Styrolution Group GmbH, Americas Styrenics LLC, Styron LLC (Trinseo S.A.), Saudi Basic Industries Corporation, Chi Mei Corporation, Kraton Polymers LLC, INEOS ABS (USA) Corporation, Chevron Phillips Chemical Company LLC, Bayer MaterialScience AG, Nova Chemicals Corporation
The high price of the styrenic polymers Compared to other thermoplastic materials is projected to hinder the market growth.
Continuous product innovation is a key trend in the market and this is expected to propel the market growth.
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